Rental property owners have access to residual income by finding the right tenants. Unfortunately, these owners may face difficulty finding the time to manage these tasks along with a regular job. A Rental Apartment Manager helps these owners by performing these services for them.
Screening Applicants for the Property Owner
The property manager places an ad for the rental property and accepts applications from potential tenants. They evaluate these tenants based on their credit-worthiness and ability to pay timely rental payments. This could require them to acquire a copy of the applicant’s credit report.
The property owner may choose to conduct a criminal background check. These measures are taken to determine if the applicant was convicted of a dangerous crime. Rental properties in which children are present require these additional measures.
The manager evaluates all requirements outlined by the property owner. This helps them identify the tenants who are stable financially and won’t create an issue for the owner or other tenants. The manager acquires the proper documents for all background and credit checks from the tenants.
Setting Up a Lease Agreement
Once the manager finds the right tenant, they set up a lease agreement. This agreement outlines the payment structure set forth by the owner. They also outline the rules in which the tenant must follow when living in the property. This may include policies for pets and visitors.
Collecting Rental Payments
The manager collects all rental payments from the tenants. They could deposit these payments in the owner’s bank account. The manager will also apply late charges for any rental payments that are up to five days late.
Maintaining the Property
The manager must coordinate efforts with repair services identified by the owner. The owner is responsible for any structural and utility-based repairs that are required during the lease. The manager could help them acquire accounts with these providers if needed.
Rental property managers provide invaluable services for property owners. They conduct the application screen process as specified by the owner. They also follow local laws that apply to renting properties in their area. Property owners who need a Rental Apartment Manager should contact Amber Pointe Apartments for more information. You can follow them on Google+ for more information.
