What actions does Alcove take as each tenant's lease comes to an end?

Our team reaches out to the current tenant to determine whether they plan to renew their lease or move out at the end of the term. 

N/A

If tenants choose to renew, our support team guides them through the process, and they must submit a new application at the current price to proceed.

If the tenants choose not to renew, our leasing team begins remarketing the property at the 60 day mark*. We handle everything from syndication to lease-up and communicating with potential leads. Our goal is to find qualified tenants to fill the vacancy as quickly as possible.

In either case, there are no action items required from the owner

*The property listing will only be reopened if there are 3 or more months remaining before a decommission date.

N/A

The property is re-listed on the market. You can verify this by visiting Manage Listings -> Dashboard -> Occupancy Chart.

Dashboard view

N/A

If the previous tenant is confirmed to be moving out, a turnover service is automatically to prepare the property for the next tenant.

You can monitor this process through the Service Portal, and a jobs report will be generated and made available for download within the shift. Our vendor team will review the report and provide any necessary follow-up actions.

Alcove Service portal view

N/A

The vendor will complete the following tasks at the property:

1. Perform a standard clean of the bedroom and bathroom (if private).
2. Remove the old access codes and install new ones for both the bedroom and front door. These new codes will typically be accessible to you within 1 business day of the change.
3. Note any painting, deep cleaning, or further repairs that may be required.
4. Since Alcove operates its own vendor marketplace, owners do not have to pay the typical costs associated with a turn. Typically, the cost of the service is between $45 - $65, depending on the region and availability. Prices are dynamically calculated.

You can view the exact price before the shift under the shift details. To access this information, visit Service Request -> Select the ticket -> Click to expand shift.

Scheduled Services detail 

(Optional) If you prefer to manage the turnover service yourself, you have the option to cancel the Alcove tenant turnover service and conduct your own turnover service instead.

The team will assess the inspection report and offer high-level guidance on potential reimbursements or deductions*.

From here, you'll receive an email with this information. You also have an option to conduct your own inspection. To do so, please provide notice by: 

1. Go to service request

2. Select 'Schedule a service' -> 'Select property' -> provide your own service -> 'Landlord or Property Manager inspection'

Scheduling a service on Alcove

*Please be aware that it is your responsibility to verify this information. Alcove does not guarantee the accuracy of this process.

1. Approving any required painting tasks.

2. Carrying out any necessary repairs as indicated in the reports.

3. Completing your deposit returns on Alcove. (See details here)

The tenant operations team sends an email to the tenant containing a comprehensive move-in checklist. This checklist includes:

1. Move-in information.

2. A video demonstrating the vendor typing in the correct access code.
3. Images showcasing the cleanliness of the property after the turnover service.

If there are any issues, the operations team will escalate to the landlord or address them internally if it is a service provided by Alcove.

N/A