Now that your tenant has moved into the property, your life can go back to normal. Not so fast. The first 45 days are crucial to ensuring that your customer/tenant is having an enjoyable experience in your property.
Learn how to start the relationship with a bang by adding an easy to follow system to your onboarding process. The way you begin this relationship may impact how long the tenant stays in the property.
Five days after your tenants move in, you want to collect the walkthrough inspection report. You’ll need this when the tenants move out. By this point, your tenants have lived in the property a few days and should have noted any issues they pick up on at the walkthrough.
Midway through the first month touch bases with your new tenants. See how things are going for them so far. Find out if they have any questions or concerns. Your tenants are your customers, so if you want repeat business (a lease renewal), you want to show them that you are a landlord that cares.
Confirm Payment Instructions
Sure, you stated how and when the rent would be paid when the lease was signed, and it’s still a good idea to confirm this with the tenant before the next payment is due. If they are paying by check make sure they knew who to make the check out to, is it your name or should it be made to a trust or LLC? Whatever the case, make sure they know. Where do you want the payment sent, your home address or a P. O. Box? Have you set up the means to pay electronically? To avoid any delays in payment, clear up any confusion before there is any.
Verify Payment Received
Five days after the first payment is due check your account to make sure payment has been received.
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Leasing a property without a professional agent or property manager doesn’t have to be hard; but you need to have a plan in place. I hope you found this article helpful. Don’t forget to check out our Ultimate Guide to Renting Your Home Without an Agent. If you’re thinking about renting your investment property and want to enlist the help of a professional give, me, Abraham Walker, a call at 703-539-2053 or email me.
About the Author
The above article was written by Abraham Walker, Your Northern Virginia Real Estate Agent, helping clients market their homes to achieve high sales with a quick closing time is my main priority. He’s the co-founder of Ask A Walker and can be found on YouTube, Facebook, and HERE on this blog.