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1. Property Preparation

Inspect the property for any maintenance or repair needs.

Clean common areas and ensure landscaping is well-maintained.

Check security systems and ensure all locks are functioning.

Verify that all appliances are in working order.

2. Tenant Screening

Create a rental application form.

Conduct background checks on potential tenants.

Verify employment and income information.

Check references from previous landlords.

3. Lease Agreement

Prepare a comprehensive lease agreement.

Review lease terms with the tenant.

Ensure all legal requirements are met.

Obtain signatures from all parties involved.

4. Move-In Process

Schedule a move-in date with the tenant.

Conduct a walk-through inspection with the tenant.

Document any existing damages or issues.

Provide keys and access codes to the tenant.

5. Rent Collection

Set up a system for rent collection (online, in-person, etc.).

Clearly communicate rent due dates and late fees.

Track rent payments and follow up on late payments.

Provide receipts for all rent transactions.

6. Maintenance Requests

Establish a process for tenants to submit maintenance requests.

Prioritize and address maintenance issues promptly.

Keep records of all maintenance requests and actions taken.

Conduct regular property inspections to preemptively identify issues.

7. Communication with Tenants

Maintain open lines of communication with tenants.

Provide updates on property management policies and changes.

Address tenant concerns and feedback in a timely manner.

Schedule regular check-ins or meetings if necessary.

8. Lease Renewal and Termination

Notify tenants of lease expiration and renewal options.

Review and adjust lease terms as needed.

Conduct move-out inspections for departing tenants.

Handle security deposit refunds according to state laws.

9. Financial Management

Create and manage a budget for property expenses.

Track income and expenses meticulously.

Prepare regular financial reports for stakeholders.

Plan for long-term maintenance and improvement costs.

10. Compliance and Legal Issues

Stay informed about local, state, and federal housing laws.

Ensure all leases and practices comply with fair housing regulations.

Keep records of all legal documents related to property management.

Consult with legal professionals when necessary.

This checklist can be adapted to fit the specific needs of any property management organization.

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