this is a page for
Daily Archives: October 12, 2022
When you lease your rental property to a new tenant, information overload for them is real. They may be preoccupied with moving and all the fun stuff that comes with that monumental task. Even if you review move-in details in person, consider creating a “New Tenant Welcome Binder” for them to reference. Undoubtedly, there will be an instance when they try to remember something you mentioned. This welcome binder will keep them from having to make phone calls to you, saving you from having to repeat yourself. Here are 10 things new tenants need to know from landlords when they move in.
Our welcome binder includes all of the following:
1. A copy of their signed lease.
Yes, an electronic copy is great. However, we also include a physical copy so that tenants can do a quick reference on dates and amounts or look for the information we noted on an addendum that they can’t remember about the washer and dryer repair.
2. How they pay rent?
Make sure they have the link to the app you use, an address to mail it, or instructions on when they should expect an invoice from you (if using accounting software). If there are any specifics regarding fees or payment methods related to paying online, this is where you can remind them of it. For example, we use accounting software for invoicing our tenants on the 15th of the month before the next due date. Because it can take five business days for us to receive the rent (it gets deposited into our account), we always remind tenants to pay it by the 25th of the month before the due date so it will not be considered received late by us. This reminder is because we account for rent paid when it is in our hands, not when the system emails us letting us know the tenant paid their invoice and money is on the way.