At RPM West Valley, we manage hundreds of rental properties. We have a great staff and advanced software systems that help us do this. However, perhaps what has helped the most is that we have implemented consistent systems and procedures regarding most management aspects we tackle.
We have a defined and detailed process for items like leasing, tenant behavior and maintenance. Because we have done this, most management ambiguity is answered we are set up to function quickly and efficiently. As an owner, having a consistent system and process is something you can do whether you have 1 or 100 properties.
Developing a repeatable process will take some time to start off with. However, once you have the process in place, you will find that the whole management process will be quicker, easier and less variable.
Let’s outline some of the items in the cycle of the rental process to get you started with your system. We have included some links to some of our material and recommendations that should help.
1. Tenant Qualification- Being consistent and correct on this will give you a good start on having a successful tenant experience. http://bit.ly/ZD31Kd
2. Move In – Making sure this is done correctly will save you a possible headache down the line. http://bit.ly/1rYqfBd
3. Maintenance- Have a consistent policy at all properties regarding as is items, items you will fix, items that the tenant will be held responsible for and emergency items. Make sure your vendors are skilled, responsive and comfortable with tenants. Institute a process with your vendors regarding tenant communication, response time and payment.
4. Move Out – Along the move-in a consistent process here will save you when it comes to security deposit disputes. http://bit.ly/1r267Pf
5. Turnover – Being consistent with this at all of your properties will not only save you time but also allow you to forecast expenses with more accuracy. http://bit.ly/1Dthojv