The move-in and move-out process is one of the most critical parts of Winter Park property management. Today, we’re talking about the things you need to know and what you need to do when a tenant is moving in or moving out. This will help you determine how the security deposit will be distributed at the end of the lease. If there is damage, you need to be compensated.
Orlando Property Management: Documenting Condition
Before a tenant moves in, document the condition of the property thoroughly. You want to take a move-in/move-out checklist, and walk through the property with your tenant. Look at each room, including the windows, doors, sinks, faucets, and floors. Document the condition of the whole property. Your asset is worth $100,000 or $200,000, and you’re turning it over to someone else. You want to make sure you have proof of its condition at the time you gave it to your tenant. Your tenant will understand that you want it back in the same condition, otherwise the security deposit will be used to cover repairs. It’s your responsibility to document the condition before, during, and after the lease term. Keep all repair documents and be able to demonstrate how it looked at move-in and move-out.
Property Management Orlando: Move-Out Condition
You cannot charge for normal wear and tear to your Orlando rental property. But you can charge for holes to walls, carpet stains, and other damage that was created by your tenants. There are bound to be accidents, even with good tenants. Use a thorough checklist and take pictures. When a tenant moves out, do the same thing you did during the move-in process. If your tenant is not renewing the lease, walk through the property with them so they’ll know what they are going to be charged for. This gives them the opportunity to remedy the problem. Then, once their furniture is moved out and the keys have been turned in, go through the property again, on your own. Compare the before and after pictures. A picture really is worth a thousand words.
Property Management Orlando: Security Deposit
Send an itemized sheet to your Orlando tenants that lists what you’ll charge them for. You have to tell them what was damaged and how much it will cost. Send that to yourWinter Park tenants within 30 days of the end of their lease. Then, they have 15 days to dispute it. At that point, you can use the security deposit to make the necessary repairs.
If you have any questions about this process or property management in Winter Park, please contact us at MoreHouse Realty.