On our blog today we are discussing the move in and move out process that rental property owners need to follow. You’ll want to have detailed procedures in place before a tenant moves in and after that tenant moves out like a property management company would.
Move In Process
After you have marketed your property and finding a tenant for your rental property, you need to prepare the home for move in. Before that tenant gets the keys and starts moving in, you must determine the quality of the home’s condition. At Park Management & Realty Services, we take hundreds of photos of the entire property. This helps us document what your house looks like and it provides a standard for the tenants. They know that we expect the property to come back in the same condition at move out. We also take video to backup those photos. As a rental property owner, you will receive a report after the video is taken as well as the photos.
Move Out Process
When your tenants move out, we follow the same process all over again. We return to the property and we take hundreds of photos and we do our video. You want that property to be in rent-ready condition and prepared for next tenant to move in. The tenant’s security deposit is withheld if for any reason that property is not in the same condition. It’s critical to handle the security deposit according to state laws. You have to return it within a certain amount of time and you have to explain why any portion of it might be withheld.
Periodic reviews are very important for rental property owners. Most owners don’t want to wait the full term of the lease to discover that something has gone wrong at the house. We recommend that in addition to the inspections you conduct at the move in and move out points, you also do periodic reviews to ensure your great tenants are maintaining the property correctly. When we do them for you, we provide detailed reports.
If you have any questions about this topic or anything related to property management, please contact us at Park Management & Realty Services. Keep us in mind when you need help or solutions for your rental property.