Is your property management business ready for peak leasing season? Whether your properties are vacant or occupied by tenants, making sure you are prepared for move ins and move outs can be challenging. Use these property management tips to keep your properties in great shape and move in ready.
Keep a Regular Home Inspection Schedule
When a tenant moves out and before a new tenant moves in, conduct a thorough home inspection. In addition to taking notes on projects that need to be done or items that should be maintained over time, you can also use photo and video documentation to track the property and its need for repairs. Inspections and regular maintenance complement each other; regular maintenance makes inspections simpler, as there will be fewer problems to note and follow up on, and inspections flag maintenance issues that you can then be proactive about, making your inspection easier next time.
Be prepared to engage in extra maintenance when you are inspecting properties.
Stay on Top of Property Maintenance
Keeping a regular maintenance schedule can save huge amounts of money, time and effort when it comes to managing property expenses and ensuring that all of your properties are move-in ready. According to the About.com real estate blog, maintenance falls into three general categories: "preventive and ongoing maintenance, repairs to correct problems or malfunctions, and construction and remodel." Landscaping or gutter cleaning fall into the preventative maintenance category, while repairing a damaged washing machine falls into the category of prevention, ensuring that your property does not suffer from flooding.
Staying organized with general maintenance and property upgrades also make it less likely that you'll need to be move-in ready since tenants who feel well cared-for are less likely to move. According to Investor Assist, "you will also achieve a higher rental price for a well-maintained property."
Staying organized with your property maintenance helps you avoid unpleasant and costly surprise repairs. Regular maintenance can take the place of these repairs or give you fair warning that a large repair is coming. This gives you time to plan and get organized and makes it possible to avoid the need to scramble during the move-in, move-out process.
Maintain Your Data Management Systems
Behind every exceptionally well-run property is an outstanding data management system. Keep your property management in top shape by maintaining integrated information about each tenant, owner, and property in your system. Maintain information about deposits and lease agreements all in one place. Keep your files up to date so that you know exactly where everything stands when a tenant gives notice. Store tenant information on a tenant portal where you and your tenants can track the payment history of a property, and stay in touch with owners through an owner portal that contains information about repairs and maintenance completed on the property. Maintain a list of vendors and contractors who have worked on the property so that you understand what's been done and who you can call upon when you need to do some last-minute repair work.
"Our owners love the owner portals. Our tenants love the tenant portals. With Propertyware, you can go in, do a direct deposit, create the owner statement, and publish it to their portal, or email it to them." - Michele Fox / Fox Rental Management
Are you trying to upgrade your property management processes to ensure that all of your systems are in top condition? When you're looking for property management software that works for your business, try Propertyware. Sign up for a free trial today.