let’s talk: I HAVE SIGNED LEASES – NOW WHAT?!
Over the past couple of weeks, we have talked about the tenant search process! We touched on searching for tenants, landlord references and thoughts on cosigners. After the vetting process is finally over, the hopes are that you ended up with a great tenant and sent out leases to be signed! But just because you have a signed lease, does not mean the work is over just yet.
So, as we do, let’s talk Real Estate, let’s talk I HAVE SIGNED LEASES – NOW WHAT?!…
I want to start by taking a beat to make sure you give yourself a pat on the back because getting leases finalized for your rental is SO exciting! Congratulations!! Woo! Take a second to celebrate.
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Okay, now that that is over we can get back to work. Once you have your signed lease its important to do the following…
#1 Collect Security Deposits
#2 Collect Proof of Renter’s Insurance
Every landlord is different on what they require. My basic requirements states that each tenant must carry a minimum of $100,000 of liability insurance.
#3 Provide Property Information to your Tenant(s)
One thing you may not know about me is that I LOVE A GOOD POWERPOINT. I seriously use powerpoint for everything… when I wanted to get a dog I made a Powerpoint…when I got my parents a little thank you staycation for them throwing PK & I the best wedding ever, I presented it via Powerpoint…when I worked in financial services my job was to essentially build Powerpoints… I seriously LOVE Powerpoint. So it is only fitting that I leaned towards Powerpoint when sending over property information to my tenants.
SO, once I have a signed lease, I send the tenants over a “Welcome” deck that contains the following information:
Welcome Note
Utility Information
– Instructions on how to set up their gas account
– Instructions on how to set up their electric account
– Information on local cable providers
– Information on regarding their local trash & recycle schedule
How to Pay Rent
– Instructions on how to pay rent – we use http://www.cozy.co for all of our properties
How to File Maintenance Requests
– Tenants can also use http://www.cozy.co to file any maintenance requests. We do this so that we can track when a request is filed, and how it is remediated.
Now, besides the essentials, I have seen other landlords also include the following information in their “Welcome” packs!
– Local Coffee Shops
– Local Restaurants
– Local Dry Cleaning Services
– Local Transportation hubs
For all my Landlords on here, am I missing anything? Do you send your tenants a welcome pack?! If so, what do you include in yours?! Is a welcome pack “too extra’?! Let us know your thoughts!
Erin
p.s. LET’S CONNECT ON SOCIAL MEDIA
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p.p.s. if you are looking for an online class to help boost your social media presence – check out http://www.gogosbootcamp.com I have personally done this class and found it super helpful!
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OpinIons stated here are my own and not the views of eXp Realty.
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Me – this is based on my own personal experience!
