Filling vacancies with promising tenants provides a sense of relief for any property owner, as prolonged vacancies can have detrimental effects on profits. Still, moving tenants in is a process, and there are certain activities that must be completed to get a new renter legally and securely settled in. Leasing, completing move-in inspections, and collecting first months’ rent and security deposits are vital components. To guarantee that no stone is left unturned and each of the above mentioned steps are taken, many property owners hire trustworthy rental management. Columbia property managers are adept at providing superior leasing and inspections services and handle dealings with new tenants, so their clients are not forced to neglect other demands.
Reviewing the Terms
After a probable tenant passes a rigorous background screening and is selected for residency, your property manager will draw up a lease for the new tenant and go over its terms and conditions with them in great detail. They will inform the tenant of what their rights, responsibilities, and restrictions are as well as answer any questions they may have. Reviewing a rental agreement with a tenant is important, as it is necessary to stress what the monthly rent is, when it’s due, and how late payments are dealt with. Lease addendums can also be added prior to move-ins which typically add new provisions into a lease. For example, if a landlord prohibits smoking, they may add an addendum to a tenant’s lease stating they must also prevent their guests from smoking in the unit.
Once the lease has been signed, a move-in inspection will be completed. Move-in inspections are done with the tenant present, so they can look over the property in detail. Typically, managers will ask the new tenant to sign a verification report stating the property is in good condition. Verification reports help prevent discrepancies after a move-out, as a tenant loses the ability to claim certain damages were present when they moved in. After the move-in inspection is concluded, your agent will collect the rent and security deposit on your behalf and send the funds along to you. Rental management is an excellent way to ensure vacancies are filled, tenants know what is expected of them, and rent is collected steadily.
Real Property Management Columbia is a firm with extensive experience in handling leasing, move-in inspections, and rent collections in their clients’ stead. To learn more about how RPM can help your investment flourish, visit http://www.columbia.realpropertymgt.com/.
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