You’re tenant has given notice that they are leaving at the end of the lease.  Now what? It always seems like more work than you think it should be to turn over the property. Let’s walk through some steps for an easy and harmonious transition.

First, pull out the paperwork for the tenant and review the specifics such as the actual last date of the lease, how much you’re holding for the security deposit, the Inventory and Condition Checklist and any notes you have from your last walk through.

If you’re not already aware, check the particulars of paying out interest earned on the deposit, what you can deduct and when you have to returned the final amount to the departing tenant. Check state and local laws in your area for details.

Second, schedule a time to walk through the property after the tenant has moved everything out (remember to collect all of the keys!)  Nothing like a strategically placed box to hide a hole in the wall or major stain in the carpet! Using the Inventory and Condition Checklist from the move-in, document any damage with notes and photos or video, whether you think you might charge the tenant or not.

After you’ve done the walk through from the perspective of returning the security deposit to the tenant, do a second walk through from an owner’s perspective.

  • Test every light switch and outlet, locks and latches.
  • Make sure all of the sinks and shower/tubs flow and draining properly.
  • Change the batteries in the smoke detector and carbon monoxide detector.
  • Check the fire extinguisher expiration date. If it’s set to expire during the term of the next lease, replace it now.
  • Open and close all of the doors, windows, closets and cupboards, making sure they work properly, especially if it is a point of exit from the property. Lubricating any squeaky or sticky hinges will help sell the home to a prospective tenant.
  • Test the heating and cooling systems. Change any filters.
  • Walk around the outside of the structure, looking for any weather-related damage.
  • Make a list of items that may not need attention now but may next time around.  Take photos or video if you want to see how much something may deteriorate between tenants through ordinary wear and tear.

And finally, check the curb appeal of your rental. Does the landscaping need sprucing up? New paint inside or out? Will blinds or curtains help the place rent faster?

Now that you’ve completed your checklists and evaluated your rental property, it’s time to get to work! Schedule yourself or your contractors to do any necessary painting or cleaning and get that next tenant moved in.

By following these or similar steps, you can help minimize the current and future hassles of being a landlord. Sound overwhelming? 8z Rentals can manage your property and tenant transitions.  Ready to get started? Give us a call today! 888-613-8832

Posted by: 8zrentals on July 18, 2012
Posted in: Owners