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In this video, Greg Doering, owner/broker of GDAA Property Management, talks about the important information owners need to know when placing tenants in their rental properties. By following these few simple tips, you not only get happy tenants but possibly save time, as well as money on court costs at the end of the lease.
The first thing you need to do is complete a thorough background check. This includes the prospective tenant's credit, criminal and rental history. Stick with your standards regardless, as it is better to decline an applicant rather than accept one that is less than your standards.
Next, make sure you always have a firm written lease. We use Texas Association of Realtors leases that have specific dates, times and terms and conditions that protect you, the landlord and your tenant.
Always provide an inventory condition report to the tenant upon move-in. With our company, we require that it be returned within two days from the move-in date. Under Texas law, the property is assumed to be in pristine condition, unless the tenants make specific notes in the inventory condition report that they turn in. It's very important to give that to the tenant and receive that back since you're going to use that when they vacate the property.
You also need to take photo documentation prior to the tenant moving in. You can ideally take about 100-150 photos of both the interior and exterior of the property because you want to be able to state in court exactly what's going on. This also prevents any problems down the road, and this is also for the tenant's protection.
Lastly, take photo documentation again after the tenant moves out. Before-and-after photos are clear documentation. Remember as well that you have 30 days from the time the tenant vacates to give a full accounting of the security deposit.
We hope these tips are helpful. Thanks for watching and if you need excellent property management services, sage property management advice or want to check out our available #HousesforRentinGeorgetownTexas, please don't hesitate to give us a call or visit our website.
Experience only the best and professional property management in Georgetown TX with us at #GDAAPropertyManagementLLC! Learn more about us and our services at http://www.gdaapm.com/georgetown-property-management.
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