Checklist Tags

These are the checklists related to Tenants.

These tasks are related to Tenants.

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  1. Create Tenant Process
    Write out your own process for screening and approving tenants.

    Plan ahead by considering all possible what-if scenarios you can think of and what you'd do in each situation before it happens. Write this out.

    Mark this task complete when you have your process written out.

    Prepare to be a LandlordTenant ScreeningTenantsUltimate Nomad ChecklistWeek 43

  2. Class Watch "Tenant Screening" Recording of Live Class
  3. Class Watch "Mock Tenant Screening" Recording of Live Class
  4. Get or create "Tenant Evaluation Criteria"
    Get or create your own written "Tenant Evaluation Criteria" to be in compliance with Fair Housing Laws.

    This is the written standards and approval process for whether a Tenant or Tenant-Buyer qualifies to rent your property.

    Remember that you are about to loan someone an asset that is probably worth hundreds of thousands of dollars (the value of your property), so you should screen Tenants and Tenant-Buyers thinking that you're loaning them something that is worth hundreds of thousands of dollars to you. Personally, I'd even tell them that to set the right tone.

    Mark this task complete when you have written "Tenant Evaluation Criteria".

    PaperworkPrepare to be a LandlordTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 46

  5. Read through "Tenant Evaluation Criteria"
    Read through your "Tenant Evaluation Criteria" and highlight sections you have questions about. Write down your questions.

    Mark this task complete once you've read through the "Tenant Evaluation Criteria" and documented your questions.

    PaperworkPrepare to be a LandlordTenant ScreeningTenantsUltimate Nomad ChecklistWeek 46

  6. Class Watch "The $5,000 Lease Demystified" Recording of Live Class
  7. Class Watch "The Lease Option – The Lease Part II" Recording of Live Class
  8. Write script for Tenant or Tenant-Buyer call
    Write out what questions you're going to ask when Tenants or Tenant-Buyers are calling in on your marketing.

    Mark this task complete when you've got a written script of questions.

    Prepare to be a LandlordScriptsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 54

  9. Practice Tenant or Tenant-Buyer script
    Practice your script for incoming calls from Tenants and/or Tenant-Buyers.

    "Professionals practice off the field." The time to learn your script is not when you have a fully qualified, Tenant-Buyer with a large down payment on the phone.

    Mark this task complete once you've run through your script enough times so that you feel comfortable with it.

    Prepare to be a LandlordScriptsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 55

  10. Class Watch "Marketing for Tenants" Recording of Live Class
  11. Class Watch "Property Management Mastery" Recording of Live Class
  12. Class Watch "Solving Tenant Challenges" Recording of Live Class
  13. Review "Marketing for Tenants" Recording of Live Class
  14. Review "Marketing for Tenants" Recording of Live Class
  15. Take Tenant/Tenant-Buyer calls
    As calls come in on your marketing, field Tenant and Tenant-Buyer calls and answer questions about the property, complete initial telephone screening and schedule showings.

    Do your screening early... in this first call... don't meet unqualified people at the property.

    Some people prefer to ask Tenant or Tenant-Buyer for permission using something like this:

    "I’d be happy to answer any questions you have about the property."

    "Then, if you don’t mind… if it seems like a property you'd be interested in... I’d like to ask you a few questions to see if you qualify for the property and… if you qualify… then we can schedule a time for you to see the property. Will that work for you?"

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  16. Write down answers to Initial Screening Questions
    Write down the answers to these initial screening questions that you'd ask the prospective Tenant/Tenant-Buyer on the first phone call.

    Remember, we're trying to determine if the Tenant/Tenant-Buyer is qualified to borrow something worth hundreds of thousands of dollars and whether you're going to meet them at the property to show it.

    • What's your name? Phone number? Email?
    • Who will be living there besides yourself?
    • Do you have any pets? How many? What breeds? What size? Neutered/spayed?
    • Do you have good landlord references?
    • Are you renting now? How much do you pay? Why are you moving?
    • What is your approximate gross monthly income?
    • Any felonies or other convictions?
    • Any evictions?
    • How is your credit?
    • How long are you looking to stay?
    • When are you looking to move in?

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  17. IF THEY SEEM TO QUALIFY: Pre-schedule showing with prospective Tenant/Tenant-Buyer
    If the Tenant/Tenant-Buyer seems to qualify based on asking the Initial Screening Questions on your initial phone call then let them know you're going to send over a video tour of the property along with a copy of the application.

    Ask them to watch the video and look at the application and then confirm a time to meet them at the property for a showing.

    If they don't reply back confirming they've watched the video, looked at the application and will be there for the showing time, do not go to the showing.

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  18. Send application and video tour to Tenant/Tenant-Buyer
    Before confirming the showing, send the Tenant/Tenant-Buyer an email with a link to a video tour of the property that you've made and posted on YouTube along with a copy of the application.

    They will need to confirm with you that they've seen the video and will be there at the showing before you drive out to meet them.

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  19. Confirm Tenant/Tenant-Buyer has watched video, read "Application" and wants to meet for showing
    After your Tenant/Tenant-Buyer confirms they have watched the video tour of the property, read through your "Application" and wants to still meet at the property for a showing then confirm with them the date and time of the showing.

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  20. Advertise showing
    If you're already going to be out showing the property to one Tenant or Tenant-Buyer you might as well show it more people on the same trip. So, advertise that you're going to be showing the property around the time of your scheduled showing to maximize exposure and showings.

    As an example, if your scheduled showing is at 4 PM, you might advertise an open showing window of 4:30 PM to 5 PM as well.

    Take Calls from TenantsTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 56Week 57Week 58Week 59Week 60

  21. Review "Tenant Screening" Recording of Live Class
    If you have not done so recently, review the recording of the live presentation of "Tenant Screening" available on:

    https://RealEstateFinancialPlanner.com/tenant-screening/

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 41

  22. Review "Mock Tenant Screening" Recording of Live Class
  23. Call Tenant/Tenant-Buyer references
    Call your prospective Tenant or Tenant-Buyer references.

    Mark this task as complete when finished.

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  24. Evaluate prospective Tenant/Tenant-Buyer
    Using your written Tenant Evaluation Worksheet, evaluate your prospective Tenant or Tenant-Buyer and determine if they qualify.

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  25. If you haven't already, conduct a pet visit
    If you have not already done so and they're going to be staying in the property with a pet, you should conduct a pet visit to make sure the pet is friendly with strangers.

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  26. Approve or decline Tenants/Tenant-Buyers
    If your Tenants or Tenant-Buyers pass your written Tenant Evaluation Criteria, approve them.

    If your Tenants or Tenant-Buyers fail your written Tenant Evaluation Criteria, decline them.

    Mark this task as complete when finished.

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  27. IF DECLINED BASED ON CREDIT: Provide Tenant/Tenant-Buyer with letter stating they were declined based on credit
    If your Tenants or Tenant-Buyers fail your written Tenant Evaluation Criteria based on their credit, you are required by law to send them a letter stating they were declined.

    Here's one sample, but you should have it reviewed by your own attorney prior to using it:

    https://www.free-legal-document.com/rejection-letter.html

    Mark this task as complete when finished.

    Process ApplicationTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  28. Give Tenant/Tenant-Buyer copy of "Lease"
  29. Explain "Lease" to Tenant/Tenant-Buyer
    Go over the "Lease" in detail, section by section explaining it to your Tenant or Tenant-Buyer.

    Encourage them to seek advice from their attorney.

    LeaseLease Signing and Lease ReviewTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  30. IF TENANT-BUYER: Explain "Option" to Tenant-Buyer
    If you're doing a Lease-Option, go over the "Option" in detail, section by section explaining it to your Tenant-Buyer.

    Encourage them to get the advice of their own attorney.

    LeaseLease Signing and Lease ReviewTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  31. Have Tenant/Tenant-Buyer sign "Lease"
  32. IF TENANT-BUYER: Have Tenant-Buyer sign "Option"
    If you're doing a Lease-Option, have your Tenant-Buyer sign the "Option".

    LeaseLease Signing and Lease ReviewTenant-BuyersTenantsUltimate Nomad ChecklistWeek 60

  33. Give Tenant/Tenant-Buyer a copy of signed "Lease"
  34. IF TENANT-BUYER: Give Tenant-Buyer a copy of signed "Option"
    If you're doing a Lease-Option, once your Tenant-Buyer has signed the "Option" give them a copy.

    LeaseLease Signing and Lease ReviewLease-OptionTenant ScreeningTenant-BuyersTenantsUltimate Nomad ChecklistWeek 61

  35. IF ROOMMATE: Review their liability and renter's insurance policy
    If you're getting a roommate (renting out part of the home you're living in), remember to review their liability and renter's insurance policy.

    Your homeowner's policy covers YOUR STUFF and the house, but your roommates each need their own insurance policy to protect THEIR STUFF and liability if they do something and are liable.

    Insist they get and provide a copy of the policy to you. It is usually very inexpensive to get.

    Lease Signing and Lease ReviewTenant-BuyersTenantsUltimate Nomad ChecklistWeek 61

  36. Review "Property Management Mastery" Recording of Live Class
    If you have not done so recently, review the recording of the live presentation of "Property Management Mastery" available on:

    https://RealEstateFinancialPlanner.com/property-management-mastery/

    Prepare to be a LandlordProperty ManagementSolving Tenant ChallengesTenant Move-InTenantsUltimate Nomad ChecklistWeek 45

  37. Give Tenant Access to the Property
    Give tenant access to the property:

    • Meet tenant to collect cashier's check and give them keys
    • Have a lock-box and text them the code late the night before/early that morning
    • Note: One key in the lock-box and the other keys/access cards/garage door openers in a drawer inside
      Note: Only do this if you have received certified funds ahead of time

    Property ManagementSolving Tenant ChallengesTenant Move-InTenantsUltimate Nomad ChecklistWeek 45

  38. Check-In with Tenant
    Check-In with Tenant later in the day with a text/call to:

    • Build rapport
    • Ask how the move-in is going
    • Ask whether the property is in the condition they expected
    • Remind them to complete Move-In form and email back within 7 days

    Property ManagementSolving Tenant ChallengesTenant Move-InTenantsUltimate Nomad ChecklistWeek 45

  39. Replace fire extinguishers
    Replace fire extinguishers to prepare for the next Tenant/Tenant-Buyer.

    They have limited lifespans and it is probably cheaper to just buy new ones than to have them serviced.

    Property ManagementSolving Tenant ChallengesTenant Move-InTenant Turn-over PreparationTenantsUltimate Nomad ChecklistWeek 45

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