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> Property Management
Property Management
1. Property Preparation
Conduct a thorough inspection of the property.
Address any necessary repairs or maintenance.
Clean and declutter the property.
Ensure landscaping is well-maintained.
2. Marketing the Property
Create an appealing property listing.
Take high-quality photographs of the property.
List the property on relevant rental platforms.
Utilize social media for additional promotion.
3. Tenant Screening
Develop a tenant application form.
Conduct background checks on applicants.
Verify employment and income.
Contact previous landlords for references.
4. Lease Agreement
Draft a comprehensive lease agreement.
Include all necessary terms and conditions.
Ensure compliance with local laws.
Clearly outline security deposit requirements.
5. Move-In Process
Schedule a move-in date with the tenant.
Conduct a walkthrough inspection with the tenant.
Provide keys and access codes.
Review property guidelines and policies with the tenant.
6. Ongoing Management
Establish a system for handling maintenance requests.
Conduct regular property inspections.
Communicate regularly with tenants.
Address any tenant concerns promptly.
7. Rent Collection
Set up a rent collection system (online or offline).
Send reminders for upcoming rent due dates.
Enforce late fees as necessary.
Provide receipts for all payments received.
8. Lease Renewal and Termination
Monitor lease expiration dates.
Discuss renewal options with tenants.
Prepare necessary paperwork for lease renewals.
Follow proper procedures for lease termination if needed.
9. Financial Management
Maintain accurate records of income and expenses.
Prepare monthly and annual financial reports.
Budget for property maintenance and improvements.
File taxes related to rental income properly.
10. Legal Compliance
Stay updated on local landlord-tenant laws.
Ensure compliance with fair housing regulations.
Maintain necessary licenses and permits.
Address any legal issues promptly and appropriately.
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