Finding a new tenant for your rental property is very exciting. You’ve probably done quite a bit of work to prepare, market, and show your property for rent. (Or, even better, you’ve had a property management company doing it for you!) But now, the work has finally paid off and you’ve got a great tenant lined up.
What now? Here are some steps you should take to make sure the process of welcoming your new tenant goes smoothly and quickly.
Have the property thoroughly cleaned. Whether you’re having this done professionally or doing it yourself, make sure it’s done quickly and well. If you have an old tenant moving out, they may be responsible for having this done, depending on your lease agreement.
Perform any needed maintenance or repairs. Ideally, you have already discussed what specifically needs to be done with your incoming tenants. Take care of any and all repairs right away to make sure you have sufficient time to fix everything.
Change the locks. This is important when it comes to security, especially if your property has been previously occupied. This will not be too costly and will give your new tenant peace of mind.
Paint, if needed. New paint is often a huge draw for a tenant. If you agreed to have the home painted before move in, make sure it’s done professionally and quickly.
Transfer utilities. If your property is unoccupied for any period of time, your utilities should be in your name during that time. Once your new tenant moves in, make sure you transfer utility accounts to their name (unless otherwise stated in your lease). This will help avoid confusion down the road.
Review lease language. Make sure both you and your new tenant understand the terms of the lease, including payment due dates and maintenance responsibilities. It is definitely beneficial to have a lawyer or property management company to help you out with this step. You might want to give your tenant a sheet with the most important terms of the lease summarized and clearly stated.
Don’t be a stranger. Nice gestures won’t go ignored and will gain you a lot of goodwill with your new renter. Leave a welcome packet on move-in day, or send a small housewarming gift or card. At the very least, make sure your tenant knows how to get a hold of you or your property management company should they have any questions or problems.
If you’ve found a tenant for your property, you are well on your way to turning your investment into profit! If you want help maintaining your property or your relationship with your tenant, or you have more vacancies to fill, contact Real Property Management. We’re your consultant for all your property management needs, and can help you make the most of your investment home. Contact us easily through our website, or call us at (480) 719-1243.