Did you know 60% of moves in the United States take places between May and September? Now's the time to get ready for the busy moving season! Here are some general tips and tricks to help you through it:
Set your budget. You’ll want to make sure your unit is rent-ready and in excellent shape. It’s important to have funds set aside to help make any repairs or maintenance such as painting or updating appliances. You may also want to consider hiring a cleaning service.
Make sure to provide proper notice for your current tenants. If you’re not renewing the lease, you must give your tenants a certain amount of notice depending on how long they’ve resided in your unit:
- 60 days if the tenant has resided in the unit for more than six (6) months but less than three (3) years.
- 120 days if the tenant has resided in the unit for more than three (3) years.
Once proper notice has been given, establish a move-out date with your tenant.
Conduct a move-out inspection. Make sure to thoroughly evaluate each room in the unit. This will help you assess if any repairs need to be made before your new tenant moves in.
Review your lease. See if any changes or updates are needed before starting a new tenancy.
Finalize your application. The rental application is essential to the tenant screening process! This will help you collect important information such as rental or employment history, references and pet details. The rental application can help with finding a tenant that’s suitable for you.
Marketing. Property marketing is key to making a good impression on prospective tenants! Mention as many property details as possible such as the rental price, property type, total amount of bedrooms and bathrooms, square footage and amenities. It’s also helpful to include neighborhood information as well such as nearby schools and public transportation.
Schedule showings with qualified applicants. Be prepared to answer questions about the unit. If your unit is occupied, make sure you’re giving your tenants proper notice regarding showings so that they have time to clean and secure pets, if applicable.
Sign the lease. After you’ve selected a suitable tenant, schedule a time to sign the lease. This will allow you to talk through the lease terms and conditions. This is also where you’ll want to discuss preferred communication methods (i.e., phone call, texting, email) throughout the lease term. |