Renting & managementAll terms starting with R
Rent-ready
The condition a unit must reach before it can be marketed: clean, functional, safe, and legal to occupy.
Rent-ready means cleaned, repaired, with working systems, smoke and carbon monoxide detectors in place, and no habitability defects. It is the point at which photographs and showings are worthwhile.
Listing before a unit is rent-ready tends to cost more than the delay saves: weak photos and disappointing showings extend vacancy.
Related terms
- TurnoverThe work and vacancy between one tenancy and the next: cleaning, repairs, marketing, and re-leasing.
- Vacancy rateThe share of time or units sitting empty, budgeted as a reduction to expected rental income.
- Maintenance reserveMoney set aside monthly for routine repairs, so ordinary problems do not become cash-flow emergencies.
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