Over the last couple of months, we have covered several elements of the tenant cycle. We have reviewed tenant qualification, the lease signing, move-ins and the first month. At this point, you have done a great deal of work.
OK, so the next part of the tenant cycle is the accept the rent check and smile part. Right?? Well, not exactly. While this is time the in the tenancy that should be easiest, there are a couple of steps we recommend you take.
The first step is to conduct regular inspections. We recommend having an inspection three times during a 12 month tenancy. We suggest taking pictures and completing a checklist to detail any issues you may see.
The main thing the property inspection does is give you a clear view of how the tenants are treating your property. With this information, you can anticipate repairs that will be needed, take action to fix a problem, or you can decide if you want to extend a lease renewal to the tenants when the time comes.
The regular inspection also sets up a form of accountability for the tenants. It is important that they know that you will be evaluating their performance as a tenant as much as you expect to be evaluated by them.
The next suggestion we will give you is to respond to your tenants requests and concerns in a timely manner. The goal is to keep a good tenant in your property as long as you can.
If your tenant calls you because something is broken, attempt to have your vendor contact them within 24 hrs. If you are responsible for landscaping or pool services, make sure your guys are showing up and doing a good job.
If you implement the above suggestions and you have done a good job with the previous steps of the tenant cycle, this time should be smooth sailing.