Rental Agreements Is A Presentation Tool

NOTE: The links in the below article are exclusively for our Real Estate Investor Bronze Members and link to specific resources in the Real Estate Investor Wiki.

For many tenants the first time a Rental Agreement is actually read is when a dispute comes up with the Property Management. This is not the way that a Rental Agreement should be used and its mostly the fault of management that this happens.

Here’s how it really should go: you prepare the property for rent, market the property properly and get a good number of applicants applying to rent the property. You select the best applicant by thoroughly screening the tenant. Once they are approved and you have offered the property to them, you need to have the formal lease signing ceremony. No, I am not joking.

This is the time that you sit down with the tenant and go over the lease or rental agreement in detail. Either you are going to spend the time now establishing what you expect and going over the agreement now or you’ll spend the time with late payments, property upkeep issues and likely evictions.

I strongly recommend that you take the time in advance to go over your expectations with your tenants using the rental agreement as a presentation tool to explain what you expect from them as tenants and what they can expect from you as the Property Management.

For more information view my entire filling vacancy checklist which includes how I use the Rental Agreement as a presentation too for our Real Estate Investor Bronze Members.

Until my next post,

James

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