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How to Take the Fear Out of Renting Your Property in Orlando Part 3 Lease Signing Process

Pamela McNab-Syvertson - Tuesday, December 09, 2014

The Lease Signing Process  Read More

How to Take the Fear Out of Renting Your Property in Orlando Part 2 Application Procedure

Pamela McNab-Syvertson - Tuesday, November 04, 2014

So you've marketed your property optimally and found someone who wants to apply for your investment – great job!

Now what?  Since this is one of the most important steps, you want to be thorough and not swayed by ANYTHING other than the facts of the potential tenant’s qualifications.  This is NOT a personal decision and you must maintain complete professionalism and be clear that you will be judging their application’s merit on the facts that you can VERIFY only.  Be mindful not to engage in personal discussions about anything, rather remain professionally courteous which shows that you are a business-person who is only interested in retaining a qualified resident for your investment. 

The Resident Selection Criteria that you provided the potential applicant up-front, prior to showing the home made it clear as to what you will be judging in order to consider them a qualified tenant.  Make sure to stick with that criterion without deviation so that you are treating every applicant equally and fairly. 

Review the application for accuracy and completeness.  A ‘red flag’ sign to a professional property management company that there may be problems with an application, is when we see that they are not complete, and there are many bits of information completely left out. 

Once you've reviewed the application and feel certain you've gotten all of the information you've requested, you’ll want to start to process the application.  Make sure that your application gives you specific right to pull an applicant’s credit, criminal, employment and eviction history.  Make certain that the application is signed by all parties over 18 who are applying to live in the home!

You can find and vet several credit reporting agencies to employ to pull a thorough report for you.  Make sure that you have been trained to understand the credit scoring system and can read the entire contents of the report accurately so that you can make a sound decision.  We require our applicants to provide their pay stubs as well as providing us a letter on their company’s letter-head confirming that they are employed at the company and at the rate of pay that their application states.  Make sure that everything they've stated is verifiable by you; do not take short cuts, they can prove costly!

Once you've decided that the applicant is qualified, make sure to complete an Application Approval Letter stating the agreed rental amount, security deposit amount and when they’re due.  Also, how will you accept those payments?  A certified check is a good option, especially if an applicant wants to move-in quickly.  Also, make sure to spell out what if anything will be done to the home in terms of maintenance or repairs, and have all parties sign-off on these agreements to reduce any mis-communication!

Look for Part 3 in this series – the Lease Signing Process!

  Read More

How to Take the Fear Out of Renting Your Property in Orlando Part 1 Showing Procedure

Pamela McNab-Syvertson - Monday, October 06, 2014

In Part 1 of this series we’ll examine the marketing and showing of rental property in Orlando, Florida.  Let’s face it; we all want the best possible tenant for our rental property.  How can you ensure that YOUR property will attract and end in an approved application for your property?   Read More

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Because not All Property Management Companies are Created Equal, and Our Company is Committed to 'Standardizing' the Professional Property Management Industry! We Realize that we are being Hired to Manage one of our Clients’ Largest Investments. So What does that Really Mean to Us?

At its Core, this means that we must be able to Manage Ourselves in order to Manage Our Clients' Investment.

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The Result was a Company-Wide Effort that has Resulted in a Standardized Way to Measure our Performance for Ourselves AND Our Clients. Starting in 2009, our Company set out to Create an In-House Customized Software System (M.P.M. – Managing Property Management) to Manage all of our Company’s and Property Manager’s Duties to Ensure Full Accountability, Consistency, Compliance and Best Practices. We have Created the Ultimate Management Tool for our Company which Ensures YOU have hired the Ultimate Property Management Company!

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