1. Rental Application
Documenting and screening potential rental applicants can be very time-consuming and tedious. When you're a property manager, you may forget certain applicants or find that keeping track of applicants is almost impossible. By just using a Rental Application, you can easily screen applicants based on income, bank statements and pay stubs. You can also conduct a background check to ensure that the person is responsible when paying their debts.
Rental applications can also list the rental terms, deposit information and any other information you deem pertinent.
2. Residential lease
A residential lease is one of the most essential property management forms and includes the rights and obligations of the tenant and landlord. A residential lease contains:
- Information on the property.
- The names of all tenants.
- Pet policies.
- Parking and guest policies.
- Utility responsibilities.
- Legal information pertaining to the lead.
- Rental fees, late fees and deposit information.
A residential lease is essential as it is a binding contract that must be upheld unless certain conditions within the lease say otherwise. You can build your lease online in just a few easy steps.
3. Property Manager Agreement
Your Property Manager Agreement is a document that you need personally as the property manager. It's the one that governs your duties as a property manager. It can detail how you deal with repairs, whether you have access to cash to improve the property, and so much more. Understand what your responsibilities are at the outset, so you can do your job to the best of your abilities.
4. Lease Amendment
Sometimes, a lease needs to be changed for the better of the landlord or tenant. When both parties agree to a change, an amendment can be made that allows the rest of the lease to stay intact. Whether you're increasing rent, including a parking spot, or giving a tenant permission to own a dog or cat, a Lease Amendment form allows you to easily change the original terms of a lease.
5. Independent contractor agreement
Whether they hire out or just do the work themselves, Property Managers generally take care of repairs. If the job is a little too difficult (or if you'd just rather hire a professional), an Independent Contractor Agreement sets out the price for the job, how long you expect it to take, and what constitutes a finished product. You can use it for painting, plumbing, furnishing, cleaning, and more. If the unit that needs work is occupied by a tenant, don't forget to provide a Landlord's Notice to Enter so your tenant can plan accordingly.
Being a property manager can be a challenging balancing act. Between Rent Increase Letters and Eviction Notices, landlords often require their property managers to deliver bad news to tenants. If you have questions on how to get things done legally, reach out to a Rocket Lawyer network attorney for affordable legal advice.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.
