Is it time to look at your onboarding process and make sure you are up to date with your policies and processes?
I have to admit I am not a social media guy. I have Twitter, Facebook, Linked in, and Instagram accounts, but I rarely log in. In fact, I only login a couple times a year which causes me much frustration because I can never remember my passwords. The fact is when we do not perform something on a day to day basis, like passwords, it’s easy to forget steps, processes, and policies. How often are you turning a property? Are you a little rusty or new?
Turning a property is not easy. It is calculated and a step by step procedure. Many landlords I meet do not realize your rental portfolio is a business. We participate in a regulated industry whether we like it or not. I personally have the attitude, “It is my property and I will do what I want.” My attorney constantly tells me…”Good luck with the Judge.” So though I kick and scream a little, I make sure I spend the appropriate time and have the appropriate policies to do it right.
AZREIA’s August meeting will be intense. We are going to cover the complete process of turning a property from one tenant to the next. We will start with the dreaded phone call…”We are moving out” all the way through to your new tenants paying their first month’s rent.
Below are the topics that will be covered, but I want to spend some time right now on one of the steps – Rental Verifications and the Struggle in Today’s Litigious World
Here are the specifics on what will be covered during the August meetings. There will be several handouts provided that will help freshen up your policies and run your properties correctly, as well.
-Physical aspects of turning a property.
-Strategic ways to get your house rented quickly
-The condition of your home says what type of Landlord you are and what type of tenant you will attract.
-Understanding your demographic
-Different market conditions will decide how hard you have to work at advertising
-How much do I rent for?
-Taking the phone call from a tenant…Do’s and Don’ts
-Showing the property
-What questions to ask and what questions to stay away from
-Application- specific questions, online, paper, fees
-Rental Verifications and the struggle in today’s litigious world
-Criminal Background Investigations and quick overview of HUD
-Lease and the protections you need
-Move In/Out Inspections
-Online Rent Pay
-Evictions/Notices: how you should process.
I meet all sorts of landlord/investors every day. Some have big smiles, and others are ready to cry. This is the best business in the world and we want to make sure you are smiling all the way to the bank.