When managing a lease agreement, with one tenant moving out and another moving in, it is a challenge to stay efficient. During this busy time of the tenant cycle, there are lots of details to keep in place. Most tenants will be looking forward to getting their security deposits returned to them. They may even be depending using it as a deposit for their next home. This being the case, it is rare for a tenant to step forward and admit to damage that they caused. As a business owner, one of your most important tasks is ensuring that you are being reimbursed for damages left by the tenant. Don’t lose sight of the specific steps that you can take to make this process easier. Be more efficient, and be sure that you are getting the money that you are owed.
Lease Agreement Move-In Paperwork
Maybe it seems counter-intuitive to begin the paperwork that will ultimately be used for the move out when your new tenant has not even unpacked their boxes. But move in paperwork will be your key to assessing the condition of the property when your new tenant eventually moves out. Don’t let your optimism and good vibes about your new tenant distract you from your responsibilities. Be sure that the move in paperwork is thorough, and that it is completed by you and the tenant.
Ensure that the requirements for your move in paperwork are included in your lease. Typically a landlord will give a tenant five days to return the confirmed receipt. The tenant will complete a condition report, verifying that included structures and amenities are in good working order. They should make note of any damage they see in the house or any repairs that must be made.
If you are feeling overwhelmed at the thought of completing this inventory, check out ezLandlordForms’ Move-In / Move-Out checklist. Even if you have a form that you have used in the past, our form may include items you hadn’t thought of. You can even include these documents as part of your lease package, and you’ll have a record that the tenant received it.
Before the tenants’ move in walkthrough, make your own documentation and take your own photos and videos. These photos will record the condition of the unit at the time of move in. Even in the absence of the tenant’s paperwork, these documents will be important evidence of damage or stains that were not there when the renter took possession of the home.
The move in report sets the stage for the moving out process. The same inventory is completed when the tenant leaves your property. When you find damage, document it with photos or video.
You collected a security deposit from the tenant. You followed state rules to decide how much to collect and where to keep that money during the tenancy. As you move forward with repairing any damage, be sure to collect receipts and keep any quotes for labor. These can then be used to calculate the amount you will retain from the security deposit. ezLandlordForms provides a simple security deposit accounting sheet to help you keep track. Be sure to act quickly. Scheduling the contractor for the needed repairs can take time, and your state or municipality will govern how long you have to return your renter’s deposit, whether as a full or partial refund.
All about the lease agreement paperwork
There is a finite period of time in which to complete each step of the move in and move out process. To stay on track and be sure you are holding the tenant responsible for his or her part in any damages. You must be organized, know the steps ahead of time, and have your documents ready to go. These documents will help you support your case if a tenant tries to contest the damages. Being prepared will help you give the appearance of a seasoned professional.