Landlord’s Property Checklist For New Tenants

Landlord’s Property Checklist For New Tenants

In this article, we will be going through the landlord’s property checklist for new tenants. This list is very important as it allows you to handle everything correctly for your new occupants.

Prepare and Sign Lease Agreement:

Firstly, you need to have a template of the lease agreement already prepared for your tenant/tenants. Once the agreement has been overviewed, send your tenants a copy to go through. Set a date and meet with your new occupants, go through together and sign the lease agreement. However, all this should be done before you hand the keys over to the tenant.

Conduct a Moveout Inspection:

Secondly, a moveout inspection is important because it allows you make necessary repairs and renovations from the previous tenant. Moreover, if you kept the security deposit from your previous occupant, you can deduct from it to cover the costs.

Collect Security Deposit and Three Months Rental Payments

Thirdly, always collect the security deposit before the three months rental payments. It is advisable to keep the security deposit, so that you do not need to make any repairs with your own money. Therefore, once security deposit has been collected, collect three months worth of rental payments. However, this may vary from landlord to landlord, as some may only require 1 or 2 months rental payments.

Schedule a Move-in Day

Schedule the best day for your new occupants to move in. Ideally, it would be once the move out inspection has been completed and repairs made. Moreover, you want to ensure that the property is in the best condition for your new occupants.

Send a Welcome Letter:

Lastly, welcome letters do not only consist of you welcoming the tenant. It includes several information such as:

  • Rental payment dates
  • How to pay rent
  • How to set up utilities
  • Any problems in the property
  • Move-in day checklist
  • Contact details
  • How to report maintenance issues

 

 

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