Almost 6 years ago (after 9/11 when people could not fly into the area to view rental homes), I started e-Leasing properties to incoming military and medical school families and over the years, fine tuning of the process has become a great boon for my clients and I continue to tweak the process.
One of my New Year's resolutions is to start the leasing process EARLIER with properties where I will not be renewing the current residents' lease. For various reasons, these residents are at the limit of their budget to pay an increased rental rate; have been late three times in their current lease cycle (this is cautioned in their Resident Handbook so it will not be a surprise); or they have been uncooperative * not paid utility bills so that the owners have been notified or not responded to repair requests.
My process is fairly simple http://vahomes4rent.com/?page=rplistings
* Prospects preview homes on my website with interior photos and floor plans. I have added neighborhood or area photos such as pools, lakes, beaches, etc.
* Newer condo or townhouse properties usually have the floor plans somewhere in their original builder/developer information or on the MLS listings. I use them where possible; otherwise, my husband does them when the property is vacant.
* My 2-page application can be downloaded from my website * the first page is the application and the second page contains our guidelines and instructions for returning the application to our office via fax or e-mail.
* When I receive the applications, I review and screen them and then e-mail the prospects how much move-in monies to send me via FedEx (#11) or UPS (#6) to my office address marked NO SIGNATURE REQUIRED (I don't have to be there to get the package and they slip it under my door). I require a date/time certain to receive these funds * usually noon 3 days forward/4 days if a weekend.
* When their move-in monies are received, I prepare the lease packet which contains 2-copies of their 6-page (3 pages front to back) which I sign; 19 page Resident Handbook, lease transmittal memo and SASE to return a copy of their signed lease. The transmittal memo instructs them to sign the signature page and scan/fax just that page back to my office AND send a signed copy of their full lease to me in the SASE I provide. I'll be tweaking this process to provide the documents PDF if time is a factor.
Since my move-in monies include the first months rent (FMR) and security deposit (SD), I will place the property keys under the front door mat of the property for their move-in arrival and they don't have the hassle of finding my office during our office hours.
....and YES, there is wording in the signed lease that they are taking it sight-unseen and accept that responsibility. I have never had an issue with this process and have actually had new residents thank me for providing this method of renting their new home
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
Wallace- This is awesome. Thanks for sharing. I have a few question. I think this is something that we would like to adopt. Since we are surrounded by multiple bases. Do you know what percent of your lease are executed as a e-lease? What is/was you biggest obstacle to over come to get his to work?
I see this as a great benefit to possible tenants!
THanks
Wallace,
Fantastic info in this post. I do a lot of executive home leasing in Atlanta and haven't done any exclusively on-line. Most of my tenants come in for a house finding trip. Although, I love this concept and will work on giving it a try.
I am also impressed by your process.
All the best, Michelle
Once in awhile we do a lease totally out-of-town. We have our rentals online, as well as our applications. The only other management company in town doesn't even have up to date properties online- can't figure out why.
BJ * about 70% of my leases are sight unseen. There are LOADS of applicants who APPRECIATE not having to get on a plane and preview properties. They REALLY have taken to the process.
Michelle * if properties were available online and publicized as such * I post 2X on our local CL * then they would preview the properties and NARROW DOWN their choice.
Leslie * keeping content from getting STALE is a problem; however, since I am the only one in CHARGE, I can add and remove properties easily!
I think adding the floorplans is critical. I get asked for them a lot.
all the best to you in 2010
Charles
Charles * my husband does them using HomePlan Pro * he was a framing contractor for 30+ years and knows how to make the angles WORK.
Wallace you are the BEST! Appreciate you sharing this in the property management group! We ROCK!