Move-Out inspections are finished, so our field agent transitions to annual inspections, which are scheduled the second and third weeks of the month. Inspection reports are reviewed for potential maintenance concerns and lease violations; work orders and notices to correct are sent out as needed. Tenant 5-day sheets are submitted from move-ins earlier in the month, and we begin the process of evaluating those submissions for potential maintenance issues, particularly those that were not detectable by our assessment (water that does not stay hot longer than a few minutes, ovens that cook at inconsistent temperatures over time, etc).
Turnovers from recent moveouts should be wrapping up this week, which means that new property listings need to be created. We review all marketing details, collect any missing information, update HOA data and ensure we have excellent and recent photographs. Owners with properties on the market are added to our weekly marketing updates and we closely monitor market activity health.
This is a busy time for renewals–we hold our monthly meeting to review all upcoming renewals, and discuss each lease. We review, among other things, payment history, property condition, and lease violations in order to determine whether to offer the renewal and, if so, under what terms. Renewal comps have been run by the 10th and owners are notified of suggested renewal rates and terms once we have had a chance to discuss each property. Later in the week (on the 15th), tenant renewal offers will be sent.
Rent payments are now late, which means (unpleasantly) the files that are still delinquent are reviewed for eviction filing. This is not something enjoyable, but it is necessary. We feel strongly about honoring our obligations and we expect that our residents do the same. We continue trying to reach tenants with account balances and work with them, when possible, to make payment arrangements.
Overlapping all of this, we are helping tenant prospects view and apply for properties, responding to routine maintenance requests from residents, and making sure we do our very best to care for the investments that have been entrusted to us.
