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A simple checklist for keeping occupancy rates high

A simple checklist for keeping occupancy rates high
Even as property owners add units to the national tally of rental properties, rents and occupancy rates are enjoying a steady climb. While filling vacant units might not seem like an issue at the moment, here’s a simple checklist for attracting and keeping those long-term tenants every landlord wants. Perform your due diligence before leasing. Get started on the right foot with every potential tenant by performing a thorough background and credit screening. Don’t ever go by what you see in just the face-to-face or solely by documentation presented by the applicant. Check references. Keep things running smoothly. When a complaint or request for repairs comes in, don’t let it sit unaddressed. Get it fixed in a reasonable amount of time. This will show your existing tenants respect and help keep the property maintained and looking its best for potential renters. Play fair. Don’t make special concessions for some tenants while not making the same for others. To avoid this situation all together, have rules and guidelines (such as when the rent is due) be the same for every tenant. Communicate your expectations clearly. This builds a good business foundation and retains consistency to avoid any misunderstandings. Focus on curb appeal. Keep the property clean and maintained, plain and simple. An unkempt property is only going to hurt chances of getting new, serious applicants in the door. It could also cause current tenants to begin their search for another complex. Show respect. Treat applicants and tenants with respect in every situation. Just as with......
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8 Essential Elements of Effective Walk-Through Checklists

8 Essential Elements of Effective Walk-Through Checklists
Documentation is the first step toward protecting the interests of all parties involved in rental transactions. The walk-through checklist is a great way to protect a renter and a landlord both when entering into a lease and when a tenant moves out. When it comes to using security deposits for repairs and cleaning, a checklist is a legal necessity. Here are 8 of the most important facets of a great walk-through checklist: Every space – bedroom, bathroom, dining, living and kitchen area – needs its own area on the list. Outbuildings, attached storage or utility rooms need their own space, too. Condition score notes can be a generic notation of condition, such as “good,” or detailed repair needs, but every feature needs a score. Each space needs custom feature condition scoring. A kitchen needs a list of all features and appliances. A bathroom requires scoring areas for the bathtub, toilet and sink, as well as lighting fixtures, walls, floors and doors. Bedrooms require closet and flooring condition inventories, in addition to the fixture, door, window and wall ratings. A general comments section allows for any notes not covered anywhere else on the form. This could include something like an odor or unknown pipe noise in the walls. Both the tenant and landlord should initial each page to indicate that the walk-through was done together and that both parties agreed to what's written in the document. Wrap up with a full signature and date line at the end of the checklist. A stipula......
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