Once you’ve decided to lease your property you’ll have a number of things you need to accomplish:
- Initial Consultation with Property Manager
- Initial Inspection of House
- Agent Provides an estimated rental rate for the Property
- Set the Rental Rate
- Complete the Management Contract
- Complete the Required Disclosures
- Make Necessary Repairs & Improvements to ensure maximum competitive advantage over other properties on the market
- Prepare the House for Showings by De-Cluttering, De-Personalizing, & Staging
- Clean the Property
- List the Property for Rent
- Market the Property to Attract Qualified Tenants
- Show the Property
- Screen Tenant Applications
- Create the Lease and Property Specific Addendums
- Sign the Lease
- Obtain Deposit form the Tenants
- Complete the Move-In Inspection
- Move-In the Tenants
- Go over the Lease and Property Policies with the Tenants
- Obtain a copy of the Tenant’s Move-In Inspection Form
- Ensure Rent is Paid in Full on Time Every Month
- Respond to Tenant Requests & Questions
- Perform Preventative and Corrective Maintenance as Required
- Conduct Periodic Property Inspections
- Receive or Give Lease Termination Notice
- Schedule Move Out with Tenants
- Ensure Tenants Understand Move-Out Requirements & Procedures
- Conduct Move Out & Move Out Inspection
- Charge Tenants for any Damages or Cleaning Required
- Process Tenants’ Security Deposit
- Repeat steps 3-31 as Necessary
Property Management is one of the most difficult real estate specialties. A good Property Manager will protect the property, respond to tenants in a timely manner, and ensure all local laws and regulations are adhered to on behalf of the Landlord.