LEASE & MANAGE
Evaluate the property for an accurate rental rate
- Offer recommendations on repairs and cosmetic improvements that maximize monthly rent while providing good ROI.
- Gather data on rental rates in the area and work with owners to determine the optimal rental rate.
- Discuss with owners the pros and cons of different policies such as accepting pets, allowing smoking etc.
Market the property for rent
- Prepare property for rent:
- Cleaning and optimizing the interior appeal
- Manicure landscaping to increase curb appeal
- Create ads tailored to the property and advertising mediumss; Some of the mediums commonly used are:
- Paid and free rental listing websites
- Print publications
- Signs
- social medias
- Work with other leasing agents to find a tenant asap.
- Field calls from prospects for questions and viewings.
- Meet prospective tenants for showings throughout the week and weekend.
- Provide prospective tenants with rental contract that is legally compliant with fair and updated laws.
Tenant Screening and Selection
- Perform a background check to verify identity, income, credit history, etc.
- Grade tenant according to pre-defined tenant criteria.
- Inform tenants who were turned down.
Tenant Move In
- Draw up leasing agreement.
- Confirm move in date with tenant.
- Review lease guidelines with tenant regarding things like rental payment terms and required property maintenance.
- Ensure all agreements have been properly executed.
- Perform detailed move in inspection with tenant and have tenants sign a report verifying the condition of the property prior to move-in.
- Collect rentals and security deposit (if any).
Rent collection
- Receiving rent.
- Hunting down late payments.
- Sending out pay or quit notices.
- Enforcing late fees ( if any).
Tenant Move Out
- Inspect unit and fill out a report on the property's condition when the client moves out.
- Provide tenant with a copy as well as estimated damages.
- Return the balance of the security deposit to the tenant ( if any).
- Clean unit and perform any needed repairs or upgrades.
- Re-key the locks.
- Put the property back on the market for rent.