What does “Rent-Ready” mean?

Rent Ready Defined

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Our Property Management Agreement states that the Owner shall “provide the Property to Company in movein, rent-ready condition at the beginning of the Term” and, if the home is NOT in rent-ready condition, “Owner understands that Company may take steps to make sure home is presentable, at Owner's expense, or to terminate this Agreement.”

A property is “rent-ready” when it meets the following conditions (as applicable):

• Property is well-maintained
  • Paint needs to be new or look new
  • Flooring needs to be new or look new
  • Window coverings need to be new or look new
• All appliances and systems are working as originally designed
• Property has been professionally cleaned before turning over property to Cornerstone
• Carpets have been professionally cleaned and deodorized by a truck-mounted stream cleaner
• Landscaping (lawn, edging, flower beds, bushes, etc.) maintained before turning over property to Cornerstone
• Smoke detectors installed in each sleeping area, in hallways outside sleeping areas, and on each floor as required *
  • Many smoke detectors are required to be replaced every ten (10) years. This will be checked during the initial property assessment and monitored throughout the management term.
    Smoke detectors will be replaced if necessary
• Carbon monoxide detectors installed on each floor as required *
• Fire extinguisher installed in kitchen *
• Deadbolts on all exterior doors (except sliding glass doors)
• Exterior sliding glass doors require a security bar in addition to a functioning door lock
• New HVAC filters;
• Garage door opener and remotes function properly
• Locks will be change or re-keyed by Cornerstone, after owner departs and between each tenant, at owner’s expense

* Although many municipalities have a grandfather clause for properties when building codes are updated, we don’t believe it is ethically responsible to endanger tenants when a simple safety device can prevent harm or even death. We are by no means building code experts; however, when we can we take the necessary steps to ensure the tenant’s safety – which reduces our client’s liability and protects our client’s investment properties.

Owners have the option to make their property rent-ready by the date agreed to in the Management Agreement, Cornerstone will coordinate the property preparation if not completed by agreed upon date. If Cornerstone coordinates the property preparation, owner will provide funds prior to scheduling any work so we can pay the vendors.

Presenting your property in excellent condition set the example and expectations for how we expect to receive the property back from the tenants at the end of their lease.