The process for moving a tenant into your property is not terribly different from the process of moving a tenant out. Inspecting and documenting the condition of the property will be the most critical part of both procedures.
However, there are several nuances that you need to be aware of at each stage of the leasing process. If you want to successfully carry out the tenant move-in and move-out process for your Denver rental property, pay attention to these tips.
Make Sure Your Property is Ready for your Tenants
First, you have to provide a great home for your tenants. You should have done a complete inspection to make sure everything is working, safe, and habitable. Any last-minute repairs must be made, and the home should be professionally cleaned. Your inspection report should include photos, videos, and detailed descriptions. Make sure your tenants sign the condition report so everyone agrees on how the home looks when you hand over the keys.
It’s also a good idea to introduce the property to your tenant. Once the lease has been signed and your tenant is preparing to move in, walk through the property and show your tenants what they need to know about the home. Demonstrate how to turn off the water in case there’s a problem and point out where the air filters should be changed. Show them which keys are for which doors. Answer any questions they have about how the home functions.
Review the Lease Agreement
Another important part of the move-in process is collecting the security deposit and the first month’s rent and signing the lease agreement. Many landlords and property managers find it’s easier to email the lease and have the tenants sign it electronically. This can certainly keep your move-in process efficient and paper-free. However, meeting in person with your tenants will allow you to answer questions they might have and discuss the most important parts of your lease agreement, such as the rent collection policy and how you expect maintenance to be reported.
Provide Clear Move-Out Instructions
When your tenant provides the required written notice that they plan to vacate the property, you need to let them know what they should do before they leave. This information should also be in the lease agreement, but a reminder at the end of the tenancy will yield better results. Put the instructions in writing, and let the tenants know that you expect to receive a property that resembles the one you provided. If you want to see documentation that it was cleaned or that the carpets were steam-cleaned, provide that reminder. Refer them to their lease and make sure they know what you’ll be looking for when you’re evaluating the home’s condition and returning the security deposit.
Returning the Tenant’s Security Deposit
After a tenant has moved out, immediately visit the property so you can conduct an inspection. Compare the condition of the property at move-out to the condition the home was in before the tenants took possession. Remember that normal wear and tear is to be expected, and you cannot hold the tenants accountable for it. Those small nail holes in the walls and scuff marks from furniture are normal.
Damage, however, can be deducted from the security deposit. Schedule your repairs and take care of your turnover maintenance. In the meantime, send your tenants their deposit to the forwarding address they left, and if you made any deductions, explain why.
These are some of the things that will ensure you have a successful move-in and move-out experience with your Denver tenants. Contact us at Walters & Company for more information.