Every rental property manager has encountered the problem of tenants leaving your property in what you would consider less than ideal shape. A good way to avoid this issue would be to create a checklist for your residents to know what condition the rental should be left in after their departure.
When Tenants Move Out
If your tenants never complete a move-in inspection sheet then you lose out on any money required to fix whatever gets damaged. Because you cannot prove what condition the unit was in before it was rented out, your previous renters will not have to pay for any of it. All parties should sign an inspection sheet in order to maintain there is no confusion as to how the property looked at the start of the rental agreement, meticulous documentation never hurts.
New Tenant Move-In Process
Failing to document the unit adequately can cause some issues in the future if you aren’t careful. Be sure to do a personal inspection of the unit before going through the inspection process with the prospective renters and then go ahead with the lease signing. Your lease should ask for and state the following
- Every person who will occupy the property
- The amount of rent and what will be accepted as payment
- Receipt for security deposit
- Terms of the lease
- All rules as per state and agency that pertain to the property
- If pets are allowed and whether there is a fee, refundable or not
Be sure to lay out everything possible in the lease agreement or something could come back to cause a problem later down the road.
Screening your Tenants is Vital To the Rental Move In Process
Screening prospective tenants leads to a higher possibility of renters who are financially stable. You can have whatever kind of screening criteria you wish so long as it is not discriminatory and complies with state rental laws. You may be as lenient with your restrictions as you please so long as you stay consistent and possible tenants understand the criteria. Some rental property managers use criteria such as:
- Credit score; 650 or higher; or, lately, excellent rental and job history
- No criminal history
- Gross income is at least 3 times the rental amount
- One year of good rental history
- No more than 2 individuals per bedroom
Maintaining consistency in your rental move in process and putting in the time to keep it that way will help you move in the type of renters you want to keep.