Bigger Pockets

The Landlord’s Ultimate Property Management Checklist

• Attracting Tenants

• Determine ahead of time your “rental rates” (establish high and low rates)

• Create an unique rental ad that stands out.

• Take pictures with a great camera (not just with your phone).

• Create flyers with unit information and your contact information.

• Market your unit online (Craigslist, Postlets, vFlyer, local area websites).

• Market your unit offline (“For Rent” signs, etc.).

• Schedule showings or open houses

• Screening Tenants

• Complete phone screen questionnaire (prescreen BEFORE showing unit).

• Complete showing of unit.

• Follow up with interested parties.

• Have prospective tenants complete Rental Application & Application Fee

• Process a criminal, credit, and background check.

• Reach out to previous landlord to ask questions about prospective tenant.

• If landlord will not answer questions over the phone, send a landlord verification form for them to fill out and fax back to you.

• Make decision based on your rental standards (be consistent).

• If accepted, reach out to new tenant to schedule move in date/lease signing meeting.

• 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!).

• New Tenant Orientation

• The lease: signed & initialed on each page (always a good idea to have two people reviewing this document to ensure nothing has been missed)

• A copy of Driver’s Licenses of all occupants of the unit

• Security Deposit or Move in Fee

• First month’s rent

• Signing of the “Utility Transfer Agreement” (tenant agrees to move over the utilities before move-in)

• Initialing a “Lead Based Paint Notification” & providing a “Lead Based Paint Booklet” to tenant

• Initialing “Move Out Charges” document

• Filling out a “Tenant Emergency Contact Information” document

• Signing a “Pet Agreement” if applicable & collect yearly Pet Fee

• Providing “Property Management Team” contact information

• Signing W-9 form (form that is sent to bank along with security deposit)

• Handing over keys

• Office Process & Checklist

• Enter all tenant information into your rental management system

• 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

• Create a tenant file in the office

• Create a Tenant Appreciation Program

• Create a work order for every property maintenance and repairs

• Conduct preventative maintenance each quarter

• Create a collection of rent & eviction process

• Create a tenant renewal process

• Document all tenant communication

• Create template letters for example, lock out, lost keys, noise violations, tenant renewals (90, 60, 30 days), etc.

• Move Out Process

• 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.

• After assessing repairs, determine what normal “wear and tear” is and what will be charged to the tenant and subtracted from their Security Deposit.

• Mail security deposit check and letter to forwarding address within 30 days of move out.

• Unit Turn Around Process

• 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.

• Once complete, have someone clean the unit and do a “final walk-through.”

• 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.

• Now you are back to the “Attracting Tenants” part of this process!