Whether your contract is headed for termination or you are emptying your single-family property for personal reasons, a tenant move-out process can be overwhelming. Quite often, it feels like a rush to the finish line, considering the number of tasks and ordeals one has to go through to check the property’s fitness in a short span. Although it might seem like a one-way-through process, there are ample opportunities to introduce improvements while getting the next tenant lined up without any gap. Our West Side property management experts share a few tips in this blog to maintain a cash flow with a smoother moving out for your existing tenant:
AN EARLY TWO-WAY COMMUNICATION
Before your tenancy agreement is up for renewal, reach out to your tenant at least two months early to learn about their intention to stay or move from the property. Follow up till the penultimate month of renewal to avoid any last-minute surprises.
KEEP A CHECKLIST READY
Ideally, landlords and property owners should have a tenant move-out checklist to keep intentions and expectations of both sides clear and honest. The checklist must include items and their condition, you expect your tenants to keep them from moving out. It must also involve a list of activities that your tenant needs to fulfill before moving out. Here’s a sample for you:
- Call 3-14 days before your move-out for inspection
- Vacuum/ clean carpets
- All walls must be cleaned and painted
- The kitchen and bathroom must be clean
- No trash should be left behind
- All kitchen appliances, window treatments, and phone jacks need to be left behind
- All light fixtures need to be working
- Leave all utilities on till the inspection is complete
- Inform the landlord regarding any issue or damage
GET ON THE MOVE-OUT PREP EARLY
Do a pre-move-out inspection about 14 days before the move out while reminding them of the items that are eligible for deduction from the deposit if left in an existing state. Walk the unit together once the packing is done and your tenant is ready to move. It is important to discuss the deduction amount at move-out and provide tenant options to reduce the deduction amount, and get a verbal agreement.
TEMPLATIZE YOUR SECURITY DEPOSIT
This is one area where you need to seek professional assistance and legal advisory. Every state has different prerequisites and laws in keeping and distributing the security deposits in escrow accounts over the lease term. Make sure you remain compliant with your local and state laws. For documentation, use acceptable professional templates for submission and record the time when your tenant receives them.
TRACK ALL VITAL KPIs
This includes vacating notifications, tracking tenant referral fees, terminated lease reason, pre-move-out and move-out inspections, time of transfer of security deposit to former tenants, date of move-out, and date of listing on the market.
It’s important to note this article is an overview of the leasing and move-out process that captures aspects at the bird’s eye level. If you are looking for specific input and seek reliable west side property management services, connect with our experts at (310)-928-9728 or browse our website to learn more about our services.