When many people talk about what to do when a lease ends, they normally focus on what tenants should do. Few focus on the landlords themselves, though they have quite a few things to look after. Having a landlord checklist for when a lease ends is a vital part of getting through this.
That’s primarily because of the multiple factors you’ll need to look after. If you’re managing multiple properties, that can be even more complicated. By having this checklist, however, you can make things much easier than you thought you would.
At a minimum, the end of a lease and start of another will be more straightforward.
Landlord Checklist For When A Lease Ends: 3 Important Steps
1. Perform An Inspection
Before your tenants move out, you’ll need to get an inspection done. In doing so, you can determine whether any damage has been done to the property and make any appropriate deductions. It could be worth hiring a professional to do this, as they could spot things you might miss.
You should check for any missing or broken items and damage to the property itself. A house meth test can also be recommended if you think any illegal behaviour took place on the premises.
2. Settle All Bills
Your almost former tenants will have used up a certain amount of utilities before moving out. There’s a decent chance that their move-out date may be before the next time the bills come due. You mightn’t be able to keep their rental deposit that long to deduct the bills from it.
In these cases, you should check the meter readings and inform the utility providers. With a bit of effort, you can find out how much utilities your former tenants used up until their move out date. You can then use that for the deduction from their security deposit.
3. Get To Renting Again
Once the above has been taken care of – alongside a few other things – you can rest easy knowing that almost everything has been taken care of. By this point, the apartment will already be in a rentable state, so it’ll be time to get renting again.
Since you’ll already have been through the process before, you should know what it’s like. To make sure it’s simple, however, you should have some go-to sites to advertise your rental. While these often come at a cost, they should get you quite a few rental applications.
Having a system in place for these is recommended, as you could have more than you know how to deal with.
Landlord Checklist When A Lease Ends: Wrapping Up
By having a landlord checklist when a lease ends, you make sure things go more smoothly than they otherwise would have. You’ll already have quite a few things to look after, after all. There’s not only making sure the property is in good condition, but finding new renters.
Making it as straightforward as possible can be vital to ensuring you don’t overlook anything. What’s stopping you from making sure that’s the case?