If you offer Property Management services, it is important that you keep a file of the personal data of the tenants that you serve. This will help you to manage the property correctly. Before the tenant signs the lease, it is necessary to have valid and current identification documents, which you should organize in a file for future use. This is especially important if you are managing several tenants in multiple units.
This has two main purposes: to ensure that the identity of the tenants is real and to have personal and financial information at hand in case any clarification is needed. Some data that can be included in this format are:
- Full name of the tenant
- Telephone number (both cell phone and landline)
- Place of employment
- Signed lease or contract
- Full name of the guarantee
- Contract start date
- Contract termination date
- Pay date
The lease is a document that legalizes a real estate rental transaction and gives rights and obligations to the parties who sign it. Its writing and revision is of utmost importance to protect the interests of all those involved and avoid falling into contractual issues. The lease is what the landlord can use, in the event the tenant leaves the property and does not want to pay.
This step is one of the most important and influential when managing rental properties since it is in this document where a landlord sets the rules of the game and the tenant agrees to follow the established guidelines.
To avoid falling into abusive clauses, it is necessary to seek the advice of a notary public who reviews the document and authorizes all the sections that are included in it, always seeking the benefit of the two parties who will sign it.
Handling Tenants Efficiently
The Denver Property Management Company and its representative must have the temperance and character to get rid of tenants who can no longer afford the rent or stopped paying or even vandalizing the place by having loud parties, which the neighbors may already be complaining about. The firm actions carried out by a property manager to calm situations like these can save the landlord a lot of money in court costs and attorney’s fees in the event that an unwanted tenant is evicted. Don’t stop an investment just because you live miles away! Consider rental property management tips above and achieve your financial goals by making the most of your real estate investments.