How should regional managers set make-ready cost targets?

Use your portfolio's median (not average) make-ready cost as the baseline, since the median is less skewed by outlier heavy turns. Set targets at or slightly below the current median for underperforming properties, and at the 25th percentile for top performers to maintain discipline. Adjust targets annually based on vendor pricing trends and portfolio performance.

What is the best way to share make-ready best practices across properties?

Identify your lowest-cost, fastest-turn property and document their exact process: vendor relationships, scheduling workflow, scope decision criteria, and pre-move-out inspection process. Then implement that process as the regional standard. Monthly calls where property managers compare turn metrics and discuss specific challenges create accountability and peer learning.

How does property age affect make-ready cost benchmarking?

Older properties (1970s-1980s) typically run 20-30% higher make-ready costs than newer properties (2000s+) due to outdated materials, more wear and tear, and the need for system updates during turns. Regional managers should benchmark within age cohorts rather than across the entire portfolio. A 1975-vintage property at $1,600/turn may be well-managed, while a 2005-vintage at the same cost has a problem.

When should regional managers change vendors for make-ready work?

Consider vendor changes when a property consistently exceeds cost benchmarks despite process improvements, when turn times are chronically above target, when quality callbacks exceed 5-10% of completed turns, or when the vendor cannot scale to handle seasonal turnover spikes. Always have backup vendor relationships in place before making a switch to avoid gaps in turn capacity.

How to Use Make-Ready Cost as a Regional Manager

Role Context

For regional managers, make-ready cost is a benchmarking tool that reveals cost discipline (or lack thereof) across properties. You cannot be on-site for every unit turn, but you can compare per-unit make-ready costs across your portfolio to identify outliers, share best practices from top performers, and standardize processes that reduce cost and turn time.

For the complete formula and benchmarks, see our Make-Ready Cost guide.

Benchmarking Across Properties

Regional managers should compare make-ready cost per turn across all properties monthly, controlling for property class and unit size:

Regional Make-Ready Benchmark (Q1 Average)

Property A (Class B, 1970s): $1,450/turn | 6.2 avg days | 14 turns/month

Property B (Class B, 1990s): $1,180/turn | 5.8 avg days | 9 turns/month

Property C (Class B, 1980s): $2,100/turn | 11.3 avg days | 11 turns/month

Property D (Class B, 1980s): $1,320/turn | 7.1 avg days | 8 turns/month

Action: Property C is a clear outlier on both cost and time. Investigate vendor pricing, scope creep, and process inefficiency.

The variance between the best and worst performers in a regional portfolio is often 40-60%. Closing even half of that gap represents significant annual savings. On a property with 100 annual turns, reducing average make-ready cost from $2,100 to $1,500 saves $60,000 per year—directly impacting NOI.

Identifying Cost Outliers

Make-ready cost outliers fall into two categories, and the fix is different for each:

Consistently high cost: The property's average turn cost is above the regional benchmark month after month. This usually indicates vendor pricing issues, lack of standardized scope, or a property manager who approves too much work per turn. The fix is process and vendor negotiation.
Occasional spikes: The property's average is reasonable but individual turns spike to $4,000-5,000+. This may indicate deferred maintenance surfacing during turns, residents leaving units in poor condition, or emergency repairs being coded as make-ready. The fix is better pre-move-out inspection and proper expense coding.

Standardizing Turn Processes

Regional managers drive consistency by implementing standard processes across all properties:

Standard scope packages. Define light, standard, and heavy turn scopes with itemized cost targets. Every property manager uses the same framework to classify and scope turns.
Preferred vendor lists. Negotiate regional or portfolio-level contracts with painting, cleaning, and flooring vendors. Volume pricing across multiple properties produces rates 10-20% below individual property negotiations.
Turn-time standards. Set property-specific targets (e.g., 5 days for light, 7 for standard, 12 for heavy) and track compliance. Properties consistently missing targets need process redesign or vendor replacement.
Pre-move-out inspections. Require property managers to inspect units 2-3 weeks before move-out date. This enables pre-ordering of materials and advance vendor scheduling, cutting 2-4 days from the turn timeline.

Common Mistake

Comparing make-ready cost across properties without normalizing for unit mix and turnover profile. A property with mostly 3BR units and high long-term resident turnover (where residents lived for 5+ years) will naturally have higher average make-ready costs than a property with 1BR units and short-tenure turnover. Compare like to like, or adjust for unit size and tenure at move-out.

The Total Cost of Turnover

Regional managers should frame make-ready cost within the total cost of turnover: make-ready expense + vacancy loss + concessions on the new lease + administrative costs. A property with $1,200 make-ready cost but 18 days of vacancy has a much higher total turnover cost than one at $1,500 make-ready completed in 6 days. The total cost perspective shifts the conversation from "spend less per turn" to "optimize the entire turnover process."

See how BubbleGum BI supports regional management workflows on our solutions for regional managers, or explore the AI toolkit for regional managers.

Benchmark Make-Ready Costs Across Your Portfolio

BubbleGum BI tracks make-ready cost and turn time per unit across all your properties—with automated benchmarking that highlights outliers and helps you standardize processes that reduce total turnover cost.

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