Your Property is Rented-What to Expect
Congratulations are in order...your property has been rented, and The Team at TouchPoint PM wants to let you know what to expect moving forward.
At this point, our Team has completed the following:
1-Tenant Application has been Approved
2-Holding Deposit has been Collected
3-Lease Contract has been Executed
4-Move in date has been Scheduled
Please see below for an explanation of what to expect in each stage of the rental process.
Prior to Move in:
1-Tenant shall provide proof of Tenant Liability Insurance
2-Tenant shall provide Confirmation that all Utilities have been activated in their name.
3-TouchPoint will perform a "Pre Move-In Property Condition Report" alongside the Tenant to document the property's current condition with pictures and some cases, videos. We will compare this report to the Post Move-Out Condition Report after the tenant leaves.
4-TouchPoint will collect the First Months rent from Tenant and provide the tenant with 2 Sets of Keys, remotes, and Fobs.
1-Tenants' Rent is due on the 1st day of each month and they have until the 5th of the month to pay.
If, for any reason, the rent is late. TouchPoint will send the Tenant a "10-day notice to quit" and provide a “Demand for payment of rent” Letter. In most cases, rent is collected before the 10-day period. If not, we will be in contact with you to discuss options.
2-Once rent has been collected: Property Management Fees and Maintenance Invoices will be deducted from rental income accordingly. Owner disbursements will be processed on the 2nd Friday of the Month. Please allow 3 business days for the electronic transfer to hit your bank account.
Owner Packets will be emailed to Owners, which include Detailed Income and Expense Statements and Invoices. Owners can Access the Online Owner Portal to view this information in Real-Time.
Ongoing Maintenance and Compliance:
Our team will handle all communication with the tenants
Tenants must notify our team if there are any issues with the property. We have a 24/7 maintenance hotline and online portal to submit requests to.
In addition, we will be making a formal visit to the property in the middle of the lease to perform a "Mid Term Property Evaluation Report"
We will always email you to inform you of any maintenance or compliance issues and let you know in detail what we will do to mitigate anything that comes up.
70 days before the tenant's lease expiration date, our team will contact you via email to confirm if you would like to continue renting your property or if you would like our team to sell the property for you.
We will also review the tenant's maintenance and payment history to confirm if renewing the tenant's lease makes sense.
Based on the above and the time of year, we may offer the tenant another full-term lease renewal, allow the tenant to go month to month, or end the lease and place a new tenant.
If we do not renew or extend the tenant's lease for any reason, we will begin the tenant Move-Out process. The tenant will be reminded of their lease requirements of how the property should be turned over to us.
Within a few days of the Tenant moving out, we will perform a detailed "Move-Out Condition Report" documenting the property's condition with pictures and, in some cases, video. This report will be compared to the "Pre Move-In Condition Report". Any discrepancies we find above and beyond normal wear and tear will be documented. We will hold back a portion or all of the tenant's security deposit to cover the correction costs.
Our team will work on getting your property rent ready and start marketing to place a new tenant.
If you have any questions or concerns along the way:
Email is our preferred method of contact so that we can document everything in an organized manner and reply accordingly.
Our Team looks forward to making this a smooth process for you and your tenant.