I've been plagued recently by tenants who have misplaced/LOST their lease agreement. Now, I provide a 19+ page Resident Handbook in 3-ring binder with back pocket where they SHOULD keep their copy of the lease.
When I present my 6-page/8.5x11 lease printed front to back (went GREEN when postage went UP) I present the original and copy both signed by me WITH the Resident Handbook - they read the lease and the Resident Handbook AND then sign 1 copy of the lease for me - I usually already have their move-in monies...so really just want them to read the lease, ask me questions, sign and I'll hand over the keys....They keep the Resident Handbook * it has the utility turn on information * and they FAIL to put the lease in the back pocket for safekeeping.
Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.
Central Virginia
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I wish people would keep there condominium info also ! Great idea to give them a folder.
How about providing an emailed PDF copy as well?
I have had tenants lose there lease as well and need a copy on short notice.
Jane * I put the HOA website IN the lease and the coversheet of my Resident Handbook provides the HOA websites AGAIN.
Charles * I have a $25 "forms fee" for replacing leases/documents or providing landlord verification via e-mail
WHEN do they read the lease? For most it is NEVER. That's why we go over it with them, so thay at least hear it once.
Unfortunately I rent many properties sight-unseen so when I send out the lease packed, I urge them to read, sign and fax the signature page back to me and to put one signed copy in the mail to me in the SASE I provide...
We normally sign leases with the tenants in the units after doing the move-in walk through. We then designate a specific drawer (in the kitchen) and SAY..."Remember to keep your lease, receipts, welcome letter, and move-in information here for handy instructions!)
They still lose it..... and sometimes along with their KEYS....
Diane
In VA, we can do walk-through OR give residents 5 days to perform self-walkthrough AND submit a move-in inspection report * I prefer the latter as it is done 1) without me; 2) is usually more complete; 3) I know that it gets done....I don't want to be answering questions AND doing the walkthrough......I might miss something.
I give 2 keys at move-in. Many of my competitors only give 1; however, I have a key box at the property so that if they get locked out, I can give them the combination.
I don't look at their gaining entry to the property as a profit-center as some local PMs do...
Great idea I may incorporate something similar to my toolbox.
Wallace, did I see you mention in another blog/comment that NARPM originally created this "resident handbook", and you've added to it over the years? Do you know if that's still available for NARPM members?
Eric * I got my original one from Rachel Lindsey at Seattle NARPM convention and have massaged it since....e-mail me and I'll send you mine in .doc format for you to adapt....my way will be FREE!!!
Thanks for the resident handbook idea.