Are you new to the property management game?
Managing a residential or commercial property can be difficult, especially when you don’t have the skills to do so. You could hire a property manager, but it doesn’t mean you’ll stop worrying about the company.
Choosing a property management solution can help you stay at ease. What better way to start is by creating a property management startup checklist?
To start your property management firm, follow this checklist.
Adveritsing and Marketing
You’ll want to make sure your property is well-advertised. This means creating attractive listings on popular rental platforms like Zillow, Rent.com, and HotPads.
It would help if you also considered using targeted ads on Facebook and Google to reach potential renters in your area.
Tenant Screening
This is a process that you will want to go through to determine if a potential tenant is someone who will be a good fit for your property.
There are several different factors that you will want to consider when you are screening tenants. These factors include the applicant’s rental, credit, and employment history.
You will also want to make sure that you are comfortable with the applicant’s rental references. The tenant screening process is important because it will help you determine if a potential tenant is someone who will be a good fit for your property.
Tenant Orientation
An orientation program for new tenants should cover the following topics:
- An overview of the property rules and regulations
- A tour of the rental unit and common areas
- Introduction to the property manager and other key staff members
- Explanation of the rent collection and payment process.
The orientation should also allow new tenants to ask questions and get to know their neighbors.
Tenant Retention
Using a property management startup checklist ensures that you take the necessary steps to keep your tenants happy and keep them from moving out.
This checklist can help you identify problem areas, make changes to your policies and procedures, and keep track of your progress.
Rent Collection
Rent collection can be difficult and time-consuming, but it’s crucial to stay on top of it.
A checklist can help you track when rent is due, who needs to pay, and how much rent is owed. It can also help you track any late payments or fees owed.
Maintenance and Repairs
A startup checklist can help you create a system for tracking property maintenance and repairs.
A checklist can include setting up a schedule for regular check-ups, creating a database of repair records, and assigning responsibility for each task. It again highlights the importance of a checklist of how their service is invaluable to property management.
Move Out Process
As a property manager, you will need to ensure that you have a solid move-out process.
This will help you avoid legal issues arising from not correctly handling a tenant’s move-out. A good way to start this process is to create a checklist you can use each time a tenant moves out.
This checklist should include all the necessary steps to release the unit properly.
Property Management Startup Checklist: Achievement Complete
When it comes to property management, it’s important to have a property management startup checklist to help you get started. This will ensure you have all the necessary tools and information to begin.
Once you have your checklist, stick to every last word to avoid any issues.
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