While filling vacancies as quickly as possible is essential, most landlords understand the need for quality tenants. Accepting the first rental application you receive will fill the vacancy quickly, but could lead to more unneeded gaps in revenue. It’s important to evaluate a prospective tenant carefully before drawing up a rental agreement. With the backing of a property management company, you’ll have access to the resources necessary to always choose tenants wisely, thereby preventing issues involving late rent, disruptions, and violated leasing terms. Property management services include investigative screenings, interviews, and reference checks of potential tenants to produce a picture of what the manager and owner can expect from them as a renter. Management companies also give clients the option of selecting tenants personally or leaving the task to their manager.
To ensure tenant quality, property managers typically enact background screenings to prevent illegal activity on premises and to protect the safety of other tenants. An individual’s work history, income, and credit are also investigated to determine whether or not they’re in a suitable financial position. In many cases, property managers will conduct interviews and look into any references the applicant may have provided. Protecting a client’s investment and helping to guard against unnecessary revenue gaps is the first and foremost concern of any good property manager. Ensuring that a potential renter meets the criteria before a lease is signed is one of the many ways property managers assist their clients with fortifying their investments.
Once an applicant has passed all necessary screenings, your property manager will handle the step-by-step process of moving in the new tenant. Typically, property management services include leasing, which involves drawing up a lease for a new renter, and going over the terms and conditions with them. After the rental agreement has been read and signed, your manager will then complete a walk-through, move-in inspection with the new renter and ask that they sign a statement attesting to the condition of the rental property. The signed statement is kept for future reference after the tenants have moved out to resolve any discrepancies that may arise involving the security deposit.
Real Property Management has over two decades of experience with assisting investors in areas involving tenant selection, leasing, and inspections. Visit to find a property manager near you.
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