Don’t forget the MOVE IN – MOVE OUT process when leasing your investment property!

June 13, 2011Leave a reply

Move In:

Lease it the way you want it returned!

Does the property need another quick clean? It’s summer… has the lawn started to grow a bit? You may be ready to close, but you need to make sure the house is. We always tell our landlords, let’s lease it up the way you want it returned! Hire a cleaning service or local kid to mow the lawn. Fix those loose cabinets, replace burnt out bulbs and touch up the paint if need be. Get it in a condition you want it returned.

Engage them to take pride in the property!

We always tell tenants, don’t call the landlord for every little thing that may be wrong. Fix it! Take care of the property as if it were your own. Take pride in this home, we want you to feel comfortable and stay a long time. (Of course, we want proper notice if anything is not working properly or needs a professional to assist with.)

No…changes without Landlord approval!

No! You cannot paint an accent wall or build a deck! Well, not without approval, that is. Sometimes you will rent to a handy man, artist or someone who wants to improve your property. Keep an open mind, but never give the impression that anything goes! Make sure you have all negotiations in writing. You may get busy and forget that you said ok to the RED kitchen and TEAL bathroom.

Leave an Incentive!

We always make the security deposit, pet deposit and cleaning fees refundable. Why? Because we want them to work as hard as possible to get every dime back from you. They hire the carpet cleaners, they scour the tubs and mow the lawns. If they don’t, it comes out of the deposits. If they do and you have a clean property, it means less vacant days on market. That’s what we want YOU cash flowing, fast!

Sign, Sealed & Delivered!

You can take your time and sign the lease contract well before you move them in. But, when it’s time for the move in inspection, be ready to wrap up the transaction. Time is money! If it’s clean and ready to go this process shouldn’t take long. Bring your RHA Inventory Inspection Checklist and mark it up accordingly. Address any missed items or blemishes that the tenant should not be held responsible for. Give them the keys (ALWAYS followed up with a high-five) and you are good to go!

Move Out:

Start talking early – Listen to their response!

Hopefully, you have kept in touch with your tenants and the fact that they are moving is not a shock to you. Start asking them questions such as “When exactly is your last day?” “Have you already scheduled the carpet cleaners?” “Don’t forget that the lawn needs to be returned the way you rented it!” Go ahead and plant the seeds of your expectations. Right away you will get honest feedback such as, “What! I have to do that?” or “Yep! It’s all lined up and ready to go.”

Bring your original Move in/out Inspection form.

Surface inspection is one thing, but did they get the crumbs out of the drawers? Soap from the bathtubs (ewe)! Your next tenant may catch these things, so take a look and be prepared, unless you personally like cleaning other people’s hair from under a cabinet. If it’s not in the condition you leased it, talk about it and come up with a solution. Do it themselves, hire a professional or forfeit the money!

Be ready to complete within 14 days, it’s the law!

You are required by law to inspect, deduct and refund any monies within 14 days of move-out and inspection. If you are too busy or just don’t want to deal with it, it doesn’t matter. Be fair, come up with solutions and refund the difference. Period.

Hire a Pro!

Hate dealing with timing, scheduling, cleaners, contractors, negotiating or possible confrontation? Simply hire a pro. That’s what they do day in and day out. Property management companies or independent consultants are standing by!

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