Have new tenants moved into your commercial property? I have some tips that can help you stay organized throughout this busy process.
Preparing for new tenants is a big responsibility. From tenant screening to financial transactions, there’s a lot of moving pieces. Add in all the paperwork and property preparations to the mix and landlords are facing a to-do list that never seems to end.
Fortunately, a landlord checklist can help you streamline the new tenant transition. Here’s what you need to know about this incredibly useful strategy:
What Is a Landlord Checklist?
A landlord checklist is a to-do list that outlines everything landlords need to do when preparing for new tenants. These lists also contain all pertinent information about the new tenant and their lease so landlords have it all in one easy to access location.
The landlord checklist can help landlords tackle new tenant integration one step at a time. It ensures that nothing is skipped over and everything gets done on time. Use this list as a reference for everything related to your new tenant preparation.
Create a readable, concise, and organized bullet point list that outlines everything that needs to be completed before a new tenant can officially move into the property.
Things to Include on Your List
Your landlord checklist should include all the outstanding to-do’s revolving around a new tenant.
It’s a good idea to start the list off with the tenant’s general information, including:
- The full legal names of all prospective tenants.
- The listed property’s address and details.
- The date that their tenant application was received.
Include tenant screening details, such as:
- Background check completed on (insert date).
- Credit check completed and passed on (insert date).
- Copied tenant IDs on (insert date).
- Reviewed employer and previous landlord’s recommendation.
This will help keep you organized as you check-off all these tasks.
Next, you can include some general to-do’s and details about their lease, such as:
- Get the lease agreement and addendums signed by the tenant.
- Lease beginning and end dates.
- Expected move-in date.
- Explain all property rules and policies to the tenant.
- Received security deposit on (insert date).
- Give tenants all landlord contact information.
Now that you’re ready to rent out your property, don’t forget to give your new tenants a warm welcome!
For more property owner tips, explore the Cardinal Realty Blog.
If you’re looking for commercial real estate assets for lease in Missouri, visit our website. I’d be happy to help you take the first steps towards your next commercial real estate investment.