TENANT CHECKOUT LISTS

 

You’ve scrutinized your new tenant’s background and credentials and they look good. But things can happen in or on your rental property that you won’t find out about until that tenant leaves. And if you haven’t covered your bases, you could be stuck with repair or replacement bills that aren’t your responsibility.

This is why it’s important that you make sure your tenants fill out an inventory and premises checklist when they move in and when they move out. The checklist simply verifies the condition of the rental unit at the beginning and end of tenancy. You should actually be present when your renters fill it out so you can both make sure that it’s accurate.

The document itself typically contains an itemized, room by room inventory of the whole apartment. Following is a partial list of the things of which it should take note:

• the floor, ceiling and walls
• carpets, drapes and/or blinds
• electrical outlets
• cabinets, windows and doors
• kitchen appliances
• bathroom plumbing and fixtures
• locks

The checklist should also provide space where a tenant can make comments regarding the condition of the items and where you, as the landlord, can initial the observations as you go over them.

At the end of a tenant’s lease, you can compare the move-in to the move-out checklists to determine if anything in the rental requires repair and replacement above and beyond normal wear and tear. If so, you can then figure out what needs to get subtracted from a tenant’s security deposit.

As straightforward as this process may seem, it’s one that can be very time-consuming, especially if you own more than one property. Herman Boswell understands the needs of busy landlords like you. Our team of property management experts is here to help you manage your real estate investments the right way. When you need the know-how of industry professionals, contact us!