Much like the life cycle of a donkey is from A to Z, understanding the life cycle of a tenant from A to Z will give you a big advantage in running your rental business very efficiently.
If point A for a donkey is the conception of the egg and sperm, and point Z is the death of the donkey, we can apply this same basic concept to the life cycle of a tenant.
What is point A in the life cycle of your tenant? You might say when they get keys to your rental unit or when they sign your lease. Not true.
Point A is the moment you get notice of any upcoming vacancy of your rental unit.
What is point Z for the life cycle of your tenant? Many investors believe this is when they have moved out or when you get the keys from them. Not true.