Rental Management Process Flow

Ch 5 Property Acquisition — Finding & Evaluating the Right Deal

Property Acquisition

Begins: First serious interest in a rental property · Ends: Title transfer and possession secured

Sub-Process

Purchase of Occupied Unit

Request rent rolls, delinquencies & deposit balances; notify tenants of sale; inspect each unit; assess tenant status & decide retain or terminate

Ch 6 Rental Preparation — Turning Vacant into Move-In Ready

Rental Unit 10-Step Prep

Begins: Unit becomes vacant · Ends: Completely rent-ready. Never show during prep.

1Clear all debris & trash

2Remove light globes & shields

3Replace all burned-out bulbs

4Door, window & lock repairs

5Mechanical: electrical, plumbing, HVAC

6Inspect & repair appliances

7Patch drywall & paint prep

8Remove & clean electrical covers

9Re-install fixtures & mini-blinds

10Cabinets, backsplash & floorcovering

Ch 7 Marketing & Pricing — Attracting Quality Tenants Fast

Marketing to Attract the Top 10%

Begins: Unit is rent-ready · Ends: Approved application and move-in funds collected. Stand apart from competition; quality product attracts quality tenants.

Ch 8 Showing the Property & Closing the Deal

Sub-Process of Marketing

Showing Your Vacant Rental

Begins: Pre-screening prospective tenants · Ends: Application received. Schedule showings (group or individual); standard walk-through presentation; no negotiating until after application approval.

Ch 9 Tenant Screening — Separating the Top 10% from the Rest

Sub-Process

Inherited Tenants

Run same full checks as new applicants; decide retain or issue notice of termination

Sub-Process

Substitution, Removal or Addition

One-page addendum referencing original agreement; background check on any new person

Rental Application Approval

Begins: Completed application submitted · Ends: Approval, denial, or request for additional docs. Process applications in order received.

Credit report Personal finances Employment / income Housing history Civil & criminal courts Sex offender registry Landlord references Social media Pet screening Final determination

Approved →Continue to Rental Agreement Denied →Return to Marketing

Ch 10 The Rental Agreement — Locking In the Relationship

Rental Agreement Review & Signing

Begins: Assembling full documents package (agreement, Lead Paint notice, Vehicle & Pet registrations, ESA policy, Move-In/Out Condition Form) · Ends: All adult tenants and PM sign. Review paragraph by paragraph with tenant.

Move-In

Begins: Shortly before or after signing and receipt of all initial funds · Ends: Both parties agree on and sign Move-In/Out Condition Form. Walk tenant through property idiosyncrasies; color-code main shutoffs; review trash, yard, and after-hours service procedures.

Ongoing Tenancy — Ch 11

Ch 11 Tenant Relations & Basic Processes

Late Rent

Begins: Rent not received by due date in agreement · Ends: Full payment plus late fees; eviction; or written payment plan for balance due. Charge late fees without exception from the first occurrence.

Rental Agreement or Rules Violation

Begins: Observation or notification of a violation · Ends: Breach cured; eviction; or negotiated written agreement. Send written notice with specific section reference and photos. Escalate: warning → fine → notice to cure → eviction.

Sub-Process

Unauthorized Guest

Treat as rules violation; agreement must limit long-term visitors to 2–3 weeks; require written approval for extensions

Renewal Inspections

Begins: Prior to expiration of current rental term (allow time for legal notice requirements) · Ends: New agreement executed or Non-Renewal Notice sent. Walk through unit with tenant; verify financial status; negotiate rate adjustment.

Renew → New 6-month, 1-year, or month-to-month term Non-Renew → Proceed to Move-Out

Ch 10 Move-Out

Move-Out

Begins: Notice given or received · Ends: Access gained, conditions photographically documented, security deposit reconciled. Always rekey locks immediately. Obtain forwarding address.

1Proper notice given — schedule inspection, compare to Move-In form

2Under eviction — court officer present; locksmith and handyman on standby

3Abandonment — document thoroughly; follow local abandonment requirements

4Death, incapacity, or disappearance — verify legal authority of any "relative" claiming access

5Constructive eviction — unit uninhabitable due to fire, flood, or windstorm

6Unit locked, no contact — post inspection notice; follow local holdover law

↑ New tenancy cycle begins — return to Rental Unit 10-Step Prep (Ch 6) ↑

Each move-out restarts the rental cycle