When it comes to property management, organization can help keep you moving steadily and smoothly forward.
Whether you’re in the middle of tax season or simply keeping up with files on tenants, it’s best to have a steady protocol that you follow throughout the process.
Start with your screening process.
Once you’ve placed your add for your rental you’ll start to receive calls and emails that show interest in the property. While there is certain information that you cannot choose your next tenant based on, there are plenty of details you can look into that will help you choose.
Have each applicant fill out the same application for you so that you are not asking different groups of people different questions.
Once you receive these applications you can begin your pre-screening process to weed out the applicants that will obviously not fit with your property.
Is your rental non-smoking? You can deny any applicant that says that they smoke on their application.
After you run a tenant screening report on them, did you find that their credit score is below what you’re willing to accept?
Make sure to have a list of requirements already written down so that no one can claim discrimination.
If you own multiple properties and/or have another job on top of being a landlord/property manager, you’ll probably find yourself hoping to save time where you can.
Driving all over town to meet with a new tenant to sign paperwork can be troublesome, especially when you find that either you or the new tenant have forgotten a piece of the paperwork and you’ll have to meet again.
You may wish to invest in a service that provides access to electronic signatures so that you can simply email the lease or any other paperwork to the tenant and they may email it back.
This saves time and money in gas and printing costs.
You’ll want to keep detailed files on each tenant that passes through your property.
While they’re there, you’ll be building the file.
Hopefully they’ll come in, live peacefully, and leave without any need to use it in any sort of legal action against them, but should you need to file an eviction you’ll want to be ready.
Choosing to store files securely online is becoming increasingly more popular the obvious reasons in that it saves space and it makes those files easier to search.
You may have the name, but shifting through draws of papers for your tenant may become tiresome.
If you have it files online you may simply click the search tool to find what you’re looking for quickly and easily.
As you continue on in your career you’ll learn your own tricks and pick up on those of other landlords and property managers.
Use these to your advantage to make sure you are not wasting your time needlessly.