Q:

What information does a landlord's checklist include?

A:

Quick Answer

A landlord's checklist includes information related to tenant screening, lease procedures, financial considerations, preparing the property and any extra requirements. Each landlord can modify the checklist based on specific rules associated with the property.

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Full Answer

A landlord checklist is necessary when purchasing rental property, when a tenant lease expires and when evicting a tenant. Some of the basic information to include on the checklist are tenant names and the relevant property address. The list should then display each specific task related to the given scenario. For instance, when considering new tenants, the checklist can include an item for receiving the rental application, starting a digital folder, performing a credit check and making copies of relevant tenant identification.

Other information on a landlord checklist relates to inquiring about a separate phone line so that tenants do not have to contact a landlord through his personal line. A post office box, dedicated bank account and legal entity are also items to consider. These measures help separate all personal accounts from business accounts. In addition, a marketing strategy to attract tenants is an appropriate checklist item. Landlords should consider this marketing plan prior to putting the house on the market, and they should utilize online marketing, fliers and newspaper advertisements.

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