Achieving a Smooth Lease Management Transition
There are different ways a property management company handles transition in lease management. Here at Green Ocean Property Management, we make it as smooth and as efficient as possible. In this article, we share with you how we ensure a smooth transition of the management of properties and tenants during the duration of…
There are different ways a property management company handles transition in lease management. Here at Green Ocean Property Management, we make it as smooth and as efficient as possible. In this article, we share with you how we ensure a smooth transition of the management of properties and tenants during the duration of the lease.
Many leases might start on September 1st, but a landlord may call us in October or November already. At that point they will say, “Can you help us manage our property?”, and we say absolutely. Let us walk you through our transition process of managing your leases.
#1 We introduce ourselves to your residents.
Typically, we will reach out to the residents and let them know that there will be a transition. We put everything in writing, send them an email, and most of the time, make a phone call to introduce ourselves as well.
During non-COVID times, we also love to go and meet with the tenants. But right now, what we do is set up a Zoom call.
#2 We discuss the lease management transition.
The leases that these tenants have signed will still be viable throughout the entire lease term. But if possible, we will try to get them on our leases because our leases will allow it to protect you, the landlord a little bit more. We are going to try to transition, but not all tenants sign the lease and we will deal with that upon their renewal.
After we have spoken with the tenants, we notify them that we obtain a list from the landlord prior to actually transitioning. Everything you want us to take care of, from landscaping to snow, any type of bills or deferred maintenance that you haven’t been able to take care of.
#3 We will add you to our database.
We set you, the tenants, and the property up in our database. There is a landlord portal and a tenant portal which include setting up the bills payment as well as rent collection. Then, we will schedule any type of maintenance and inspection that we do when we onboard a property. We will also walk through the entire property, make sure that everything looks good, and make any suggestions for you.
With just those three steps, you are more or less transitioned. We have now collected rent, handling any type of maintenance situation. Talking with the tenants, we made sure that they understand how rent is being paid as well as the new rules and regulations. Most importantly, we inform them who to contact in the case of emergencies so that you, the landlord, don’t get calls.
We do ask you, as a landlord to stop communicating with the tenants, just to make sure that you know it is our job now to take care of your property and to communicate with the tenants so that you don’t have to. This can be a tough transition, and we understand that especially if you have good relationships with your tenants. But you want to create that separation because that is what you are paying us to do for you.
If you or anyone else you know is looking for a property manager that is looking to transition, perhaps in the middle of the lease term, please reach out to Green Ocean Property Management: where you get more than a property manager, you get peace of mind.
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