Today we are talking about some of the work that a property manager does to look after your investment and ensure it stays protected while a tenant is in place. The first item to address is marketing. We search for a qualified tenant by placing ads on our own website and on other Internet sites where potential renters are looking. We take the calls that come in from those ads and we spend some time assessing those callers and establishing feasibility for showing the property. Once someone applies to rent the home, we will conduct a thorough screening that includes a credit check and a criminal background check. After we gather all the information, we call the property owner and talk about the potential tenant. We provide our opinion and if the tenant is approved by the owner, the tenant signs a lease and a deposit is given to be placed in escrow. At this time we prepare the home for the tenant to reside at the property. After the tenant moves in we conduct periodic inspections of the property. During those inspections we look at both the interior and the exterior. On the exterior of the home we check for trees that may be hanging too low on the house, full gutters and exterior wood rot. On the interior of the home, we check for issues that the tenant may need to address. If we see a carpet that needs to be cleaned or a wall socket plate that has been cracked we address those issues with the tenant at that time. Every time we begin working with a property, we consider what it will take to keep the property maintained and prepared for rental or sale. When it’s time for a lease renewal, we talk to the tenants about their plans. It’s important to review the previous year and review the lease. There is an increase in the rent if the tenant is going to renew so we address that with the tenant. If the tenant decides not to stay and vacates we then prepare the security deposit in accordance with Florida Statutes. It’s critical to follow the rules that are set out for landlords regarding security deposits. This is a brief summary of what we do to look after your investment. If you’d like to discuss further, please contact us at JML Realty Investments, LLC.
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- JML Realty Investments