Coming into rental check-in/check-out season, having clear procedures is important. Having procedures from the START of the landlord/tenant relationship is IMPERATIVE!!
I do not show occupied properties without first receiving completed rental applications for all of the adult applicants. If prospects want to view a property, they can "preview" it on my website as I have interior photos and floor plans along with neighborhood information and mapping capability. Most prospects appreciate this convenience.
Sort of like blogging, they can do their rental search in their PJs at o'dark thirty and not be limited to getting property information during EST weekday work hours.
If they are coming into town to view rental properties, after I receive their applications via fax or e-mail, I schedule a weekday viewing of the property with the current occupants. I do not schedule viewings during the weekends out of courtesy to my residents and I try to schedule viewings when residents are at work or school and pets can be penned or put in a crate or garage.
I don't collect credit check fees or move-in monies unless they elect to rent the property and want me to proceed with verifying their application information.
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
Central Virginia
LandlordWhisperer
View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans
"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous
Whatever works for you and your clients is the way to do it. Property managers need to remember who is calling the shots during this process. Many prospective residents try to run the show and that can be a real problem.
Agreed - nothing worse than showing a property, qualifying applicants, preparing a lease only to be told they do not have the move in monies!!
I take the FMR so that they can e-mail me their arrival date and I'll put keys under the front door mat rather than them having to come to my office to pick them up.
Hello. Do either of you handle long term rentals as well? We charge an application fee because we also do a criminal background check and look for judgments. But, vacation rental and long term rental I am sure have significant differences. For example, we have a formal move in process in which the new resident and the agent will go through the home together taking photos and noting anything that needs attending.
I only do long term - min 12 months. VA allows a tenant to do a self-move in inspection and submit it within 5 days of taking occupancy. I do a pre-move-in inspection the day I deliver the property keys for pick up.
When I did mutual move-in inspections there were ALWAYS additions after the inspection was finished which sort of negates the reason to do it together.
Good stuff there Wallace.
Great advice Wallace. It will save anyone who is in the rental aspect of real estate lots of time and aggravation by doing it your way. Thanks for sharing what works for you. I've got to figure something out for myself or I'm going to drive myself to insanity! :)
Julie - agents segueing from sales to property management don't often realize that they need to know what they don't know. Shadowing a property manager for a few days helps; however, working with a really good property manager for a few years REALLY HELPS!
Having "inherited" the property management part of the business due to my property manager quitting right before the summer (heavy) season, I was clueless in the beginning and absolutely detested the business. I've been in sales for over 20 years and love that part of our industry. After the initial acquaintance period, I've learned that property management is indeed an art and when performed correctly it can be quite satisfying. You certainly are a good role model for me and I will subscribe to your blog, having already learnt so much from you by reading the posts on the FOR RENT group.
Thank you for being extraordinary in your job!
Join other PMs in the area and share information. Get a GOOD national website - do NOT share rental and sales website for rentals - get a good PM software * PROMAS is good and charges by the # of units * get good vendors/service personnel and review your your procedures and policies often!!!
I'm reviewing mine now in anticipation of FACTA becoming the rule in August