Being investors and owners ourselves puts us in a unique position to understand what an owner needs. Through years of learning and adapting how we manage our growing portfolio, we can help other real estate investors. We manage properties like we want ours managed.
· Answering questions about the property
· Scheduling a professional real estate photographer
· Selling the property’s features
· Distributing and accepting applications
· Screening tenants
· Calling former landlords
· Verifying prospective tenants’ income
· Running background and credit checks
· Approving great tenants
· Denying tenants who aren’t great tenant material
· Ensuring compliance with Fair Housing Laws
· Accepting the deposit to hold
· Scheduling a lease signing
· Signing the lease and addendums
· Inspecting the condition of the rental before a tenant moves into the property
· Setting up the payment method for the tenant
· Accepting rent and depositing rent into the bank
· Making sure utilities were properly transferred
· Once rented, remove rental from multiple websites
· Getting copies of the lease to all parties
· Creating a tenant file to house their information
· Accepting phone calls from tenants
· Dealing with maintenance requests
· Settling disputes between tenants
· Raising the rent when appropriate
· Ensuring tenants comply with their lease
· Ensuring tenants keep the property in good condition
· Scheduling inspections of the property
· Finding and maintaining a list of reputable contractors
· Managing contractors to make sure the work gets done
· Checking the progress on any repairs and ensuring task are completed
· Paying contractors and dealing with the paperwork
· Collecting late rent
· Evicting bad tenants
· Making sure the property is always operating up to code
· Preparing a property to rent
· Collecting forms needed for the business
· Placing rental ads on multiple websites
· Placing signs in the yard
· Determining fair market rent
· Determining the security deposit amount
· Setting minimum qualification standards
· Taking phone calls from prospective tenants
· Scheduling appointments to show properties
· Meeting with prospective tenants
· Firing tenants, if needed
· Accepting notice to vacate and overseeing the transition
· Bookkeeping to keep track of income and expenses
· Keeping a record of tenant communication
· Reconciling accounts each month
· Producing monthly reports on the financials of the property
· Responding to legal threats against the landlord
· Performing a move-out inspection of the property after a tenant vacates
· Handling the repairs or repainting after a tenant moves out
· Getting the tenant’s security deposit returned or applied toward repairs
· Scheduling a carpet cleaner
· Staying up to date on rental-related local, state, and federal laws
· Keeping the tenants happy as possible
· Keeping owners happy as possible
· Keeping the property running at peak performance
· Starting back at the beginning of this list and doing it all over again for each property
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