I have briefly outlined some items that could be incorporated into the tenant process, if not already in place, that could make getting through the tenant process simpler and more complete.
Application
1. Having a clause that requires the tenant to disclose if any of the information on the application has changed. For example; if additional occupants move in, if there has been a criminal conviction, etc.
Tenant Screening
1. This step is a must if our want to keep yourself from playing the part of the fool. Rentec Direct provides easy to use tenant screening. Rentec's tenant screening includes; credit, criminal, FICO score, SSN verification, and sex offender search to name a few
Move In/Out
1. A thorough move in and move out report will take out of question the condition of the property when it comes time to determine how much of a security deposit is due back to the tenant when they move out.
Lease Agreement
1. Keep the lease updated with current state and federal laws. I recommend checking annually for new laws at a minimum. Be sure to include the usual addendums: pet rules, HOA regulations, lead based paint disclosures, mold disclosures, and that the property is to be drug and crime free.
2. Make sure your expectations of your tenants and how you expect them to maintain the property are clear and concise.
3. Have your lease reviewed by an attorney every couple years to ensure you are incorporating language that provides you with the maximum protection against lawsuits.
I'm sure that many of these items are already part of your tenant process but even if you walk away with a slight improvement to your own process each year it will become easier and your lease agreements and process will be rock solid which is very important in this litigious country.
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Dulcey is a member of Rentec Direct who provides Property Management Software, tenant ach payment processing, Rentec's tenant screening, and criminal reports for property managers and landlords. The information in this post is just that, informational and should not be used as a substitute for legal consult or advice.
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