Alcove tenants sign long term leases with you, and the platform takes care of re-filling and re-marketing of any vacant bedrooms.
The most common initial lease length is 12 months, and tenants will renew for an average of 16 months. Depending on the lease length, bedrooms are marketed 3-6 months before the end of their leases. Our leasing team takes care of the touring of any incoming applicants.
Housemates will be given the opportunity to renew as long as they have met our community standards and have fully abided by house rules. Homeowners retain final approval and have to sign a new lease for any extension.
Alcove has made room turnover services seamless when a tenant moves out. Every month, the Alcove vendor marketplace receives orders for more than 700 services.
On tenant move-out, Alcove will automatically order the set of services required to turn the bedroom, such as a move-out inspection, room cleaning, general maintenance or repairs, and paint touch-ups. Generally the move-out inspection will occur 1 business after move-out. The costs of these services are deducted from the homeowner's ledger.
Rooms are available to apply for typically 72 hours after the previous lease end date to allow enough time for these Alcove services to be performed and confirm that the room is move-in ready for the next tenant.