The Landlord’s Ultimate Property Management Checklist
Use this checklist to improve your internal processes of managing property; that way, you’ll have the right processes in place to support your growth.
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Attracting Tenants
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Determine ahead of time your “rental rates” (establish high and low rates)
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Create an unique rental ad that stands out.
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Take pictures with a great camera (not just with your phone).
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Create flyers with unit information and your contact information.
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Market your unit online (Craigslist, Postlets, vFlyer, local area websites).
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Market your unit offline (“For Rent” signs, etc.).
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Schedule showings or open houses
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Screening Tenants
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Complete phone screen questionnaire (prescreen BEFORE showing unit).
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Complete showing of unit.
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Follow up with interested parties.
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Have prospective tenants complete Rental Application & Application Fee
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Process a criminal, credit, and background check.
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Reach out to previous landlord to ask questions about prospective tenant.
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If landlord will not answer questions over the phone, send a landlord verification form for them to fill out and fax back to you.
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Make decision based on your rental standards (be consistent).
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If accepted, reach out to new tenant to schedule move in date/lease signing meeting.
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If declined, send a standard letter declining them. File the application and denial letter in a safe place in case they ever apply again (which does happen!).
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New Tenant Orientation
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The lease: signed & initialed on each page (always a good idea to have two people reviewing this document to ensure nothing has been missed)
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A copy of Driver’s Licenses of all occupants of the unit
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Security Deposit or Move in Fee
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First month’s rent
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Signing of the “Utility Transfer Agreement” (tenant agrees to move over the utilities before move-in)
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Initialing a “Lead Based Paint Notification” & providing a “Lead Based Paint Booklet” to tenant
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Initialing “Move Out Charges” document
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Filling out a “Tenant Emergency Contact Information” document
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Signing a “Pet Agreement” if applicable & collect yearly Pet Fee
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Providing “Property Management Team” contact information
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Signing W-9 form (form that is sent to bank along with security deposit)
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Handing over keys
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Office Process & Checklist
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Enter all tenant information into your rental management system
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Make a copy of all Lease Signing Documents and mail to tenant within a week, so they have a copy of everything they initialed and signed
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Create a tenant file in the office
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Create a Tenant Appreciation Program
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Create a work order for every property maintenance and repairs
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Conduct preventative maintenance each quarter
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Create a collection of rent & eviction process
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Create a tenant renewal process
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Document all tenant communication
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Create template letters for example, lock out, lost keys, noise violations, tenant renewals (90, 60, 30 days), etc.
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Move Out Process
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Fill out a thorough Move Out Inspection, and then create a “scope of work” on what will be needed to turn around the unit. Take pictures during the walk through.
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After assessing repairs, determine what normal “wear and tear” is and what will be charged to the tenant and subtracted from their Security Deposit.
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Mail security deposit check and letter to forwarding address within 30 days of move out.
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Unit Turn Around Process
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Once the “scope of work” and work orders have been created, set a schedule and get your team (in house or sub-contractors) quickly turning around the property.
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Once complete, have someone clean the unit and do a “final walk-through.”
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Once “tenant ready,” we take pictures to use for marketing purposes, put baking soda in refrigerator, and put an air freshener in the main room.
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Now you are back to the “Attracting Tenants” part of this process!
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