Owner Turns FAQs

Asked & Answered: Common questions about your home's turnover

We understand that when your home is vacant, it's costing you money. That's why Great Jones has designed an efficient process to ensure your home's turn is as seamless and thorough as possible, so you can start earning rental income again. Plus, you have maximum visibility into progress on your home's turn directly in your Owner Portal.

Read on for answers to common questions about the turnover process and what kinds of expenses to expect.

--

General Turn Questions

How long will it take for my home to be ready for marketing?

In most cases, a typical turn will last 2-4 weeks before it passes final QA inspection and can be listed online. Click here for more detail.

Does Great Jones manage my home’s turn?

We do! Most Owners prefer it that way so they can stay hands-off. Click here for more detail.

Can I manage the turn for my own homes?

You can! Please review these details before choosing this option.

Is there anything I need to do to prepare for my home’s turn?

We highly encourage Owners to start saving if they have a vacancy coming up. Click here for more detail.

Why would Great Jones not be able to scope my home?

In most cases, this is due to not having proper access to the home or utilities not being on. Click here for more detail.

Why would my home not pass the final QA inspection?

Great Jones cannot legally market your home until it meets habitability standards, which vary by geography. Click here for more detail.

What is a change order?

These are additional work items not initially identified in our original scope due to the hidden nature of certain conditions. Click here for more detail.

Are there special requirements for my home’s turn if I want to allow Section 8 housing?

There is a separate inspection process conducted by the city to be aware of, but otherwise, our typical turn and habitability requirements will meet Section 8 requirements as well. Click here for more detail.

--

Turn Budget Questions

How is my turn budget determined?

Your turn budget breaks down into 3 main categories intended to ensure your home is legally on market and will rent at the highest possible rate in the least amount of time. Click here for more detail.

How do I fund a turn?

Typically, you must make an Owner Contribution in one of 3 payment methods. If you have additional homes under management with us, you may also fund your turn with rents collected from those homes. Click here for more detail.

What are habitability expenses?

These are required work items that need to be resolved to make your home legally rentable. Click here for more detail.

What are recommended renovative expenses?

These are optional work items that will both get your property rented at or near market rent in the least amount of time and help you lower your monthly maintenance and repair expenses over the rental lifecycle. Click here for more detail.

What are vacancy expenses?

Vacancy expenses are inclusive of the costs Great Jones expects your property to incur while your vacant home is being prepared for leasing. These expenses are tailored to your specific property but may include utilities, utility deposits, lawn or pool care, and HOA fees (for about three months). Vacancy expenses will appear on the turn scope for the property and are estimates based on Great Jones' experience with turns in the area.

Any unused portion of the amount you pay for vacancy expenses will be returned to you within two disbursement cycles after the home becomes occupied. 

Remember, you can keep an eye on the progress of your home by logging into the owner's portal and heading to the Homes section. 

What gets classified as Resident-caused damage?

Typically, damages that get charged back to a Residents' security deposit include painting or wall repairs, carpet or floor repairs, and cleaning fees. Click here for more detail.