Using Checklists for Rental Property Management

Aug. 5, 2012 - PRLog -- http://www.inventivepm.com/blog

Checklist are one of the most important documents, in my opinion that can be used in just about anything you do.  Everyone has so much going on in their lives that you have to write information down, in a central location to keep your thoughts together.  In this blog we will discuss how to properly use your checklist and implement it to make sure you rental files are complete.

The benefits of using checklist in Property Management are endless, which leaves us wondering why more people do not use such a simple tool.  In the busy world of Property Management, as you are focusing on leasing, moving people in and out of the unit, and making sure the accounting is accurate, it is extremely easy to miss information that could be very vital to how profitable your asset will be for you.

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The checklist itself should be contained inside the rental file, typically under the notes sheet where you keep notes and conversations held with your customer.  As you are completing the different tasks in both the application process, and the actual signing of the lease, these items will be checked off the list to ensure accuracy.

Furthermore this checklist can be used to create uniformity in your leasing files.  Especially if you have multiple people spread out over a few properties, each of your files will be laid out the same.  This will help in any auditing, or checking behind your employees or yourself.

In the next blog, we will layout a checklist that we would use specifically for Rental Property Management, however a checklist for a Homeowners Association would be just as useful.  The checklist could cover specific tasks such as taking over a property, or losing a property.  These are items that you want to make sure you are doing right the first time, and checklists will help with that.

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