Rental services company Valet Living announced a new service this week that is designed to speed up and simplify the process of turning over rental units between tenants — and save property owners money along the way.
The service, called Quick Turns, is geared toward properties that already have their own existing management, but could also benefit from assistance when preparing for new tenants. According to a Valet Living statement, the service provides housekeeping, carpet cleaning, painting and maintenance when one tenant moves out and before another moves in.
In addition, Valet Living promises to complete all that work within five days. If the company misses that target, it pays the property owner rent for every day that it’s late. According to the company, this turnaround time is considerably faster than normal, with averages across the industry running between 15 and 25 days.
Valet Living also argues that a faster turnaround time between tenants translates to between 2 and 3 percent in revenue growth per year.
Jim Collins
“Drawing from Valet Living’s expansive network of premium contractors, our turn service is exactly what busy property management teams need: quick, consistent, and reliable year-round,” Jim Collins, Valet Living’s vice president of Quick Turns, said in a statement.
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As of this week, Quick Turns is available in nine metro areas including Dallas, Los Angeles, Denver, Phoenix and Orlando, among others.
It was not immediately clear Friday how much Quick Turns costs to use, or what types of landlords are eligible for the service. Inman has inquired about these aspects of the service and will update this post if it receives additional information.
Valet Living was founded in 1995 and provides things such as garbage collection and recycling, pet grooming, dog park design and concierge services for rental communities. The company has a proprietary app that residents use to request assistance.
Services such as the newly announced Quick Turns are not meant to entirely replace property managers. Rather, these services are meant to supplement the efforts of managers so that they “avoid unexpected budget surprises” and can “focus on their core business,” according to the company’s statement.
In that regard, Valet Living falls into a growing category of service providers that zero in on individual parts of the management experience without fully taking over properties.
Earlier this month, for example, startup Latchel announced that it had raised $2.3 million, which it plans to spend expanding its 24-hour emergency maintenance hotline. Property managers who sign up to use the hotline get to delegate their most pressing maintenance requests, while still handling most other responsibilities themselves.
Shawn Handrahan
In Valet Living’s case, the company says that it operates in 40 states and provides services of one kind or another to 1.3 million rental units. In a statement, CEO Shawn Handrahan described the new Quick Turns service as a “step forward” for the company’s vision.
“We’re excited to introduce new ways to depend on Valet Living as a trusted partner for property managers and to help deliver a quality experience for existing and future residents,” Handrahan said.
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