The Anatomy Of A Rental Lease

Being a real estate landlord or professional property manager has it’s challenges. One of which is the leasing of a rental property. In this article, I will highlight the overall process then when it gets to the lease, I will go into some of the key elements you should have in any lease.

First is the high level overview.

View Available Rental Properties–Most renters will want to walk the property before deciding to lease or not. In some cases, someone may not have that option (such as job move). Viewing the property is an important step to make sure that the property will meet their needs and tastes.

Online Rental Application–next step is to complete an application. If the landlord is using a property management software, the application can usually be completed online by the applicant. An online application will save the landlord time and make this step a bit easier.

Background Screening – Assuming the application is acceptable, the next step should be running a background check on the applicant. Background checks are very important for protecting your investment, limit owner liability, keep existing tenants happy and many other benefits. Background checks should include Credit, Eviction and Criminal searches.

Rental Agreement – a rental agreement is used for short term rentals, typically less the a month or two.

Rental Lease– Leases are contracts for longer term agreements. Once the applicant passes the background screening, you are ready to generate a lease. A lease generally consists of:

• names of the landlord and tenant(s)
• the starting date and duration or end date of the agreement
• the address of the leased property
• options for lease renewal, if any
• rent payments, including amounts and due dates
• security deposits
• late charges and terms
• utilities
• list of occupants
• pets – allowed or not
• the right of entry and inspection
• parking
• noise and any “quiet” hours
• property maintenance
• lease termination clause
• renters insurance

Collecting Rent – Nowadays, there are many options for collecting payments electronically. Selecting a property management software that has this functionality built in will reduce the workload off of the landlord or property manager. Once the e-payment system is setup, you should be able to receive payments from tenants through a mobile app, pay vendors for repairs, pay the property owner their net profits (if you are a property manager) and receive transfers from property owners to add funds to their operating account. All these various ways for transferring money from and to different parties,  streamlines the process for everyone as well as reducing errors.

About PropertyZar

PropertyZar is a real estate technology company specifically in the web-based property management software for owners and professional property managers. PropertyZar property management software offers a comprehensive solution for leasing, application management, resident screening, and electronic payments. Learn more www.PropertyZar.com

Content is originally posted at https://www.propertyzar.com/the-anatomy-of-a-rental-lease/

Build Your Property Business In Style With Property Management Software

Why do you need an online property management software? A few might want to argue that conventional methods are still best for managing property business. Drawing lines on a piece of paper or keeping track on an Excel file has been the traditional method for many existing businessmen. They have been either unaware or has overlooked the amazing benefits of property management software.

So, let’s find out a few key highlights how a software could make business and life both easier. First of all, with the help of this software, you can really reduce your work burden. It is a realistic solution to manage all types of properties and other things such as accounting & marketing from any place at any time.

With the help of a latest software:

• You can keep track of your income and expenses in the business. Getting a financial update is simple and you don’t need to update your Excel document manually.
• Forget about going to the bank or performing cash transactions. Now you can ask your clients to make the payments online, through any online mode. Similarly, you can make your payments online too, this is made easier by the use of the software.
• You can have access to all your information anytime anywhere just through your mobile. You don’t need to carry files or laptop with you anymore. You can utilize your time meeting real people and in expanding your business.
• You can customize it according to your needs. You can make different lists based on priority and maintain all information with your comfort.

The Importance of Property Management Software In The Running Of Property Related Businesses

Being in charge of a specific business is a great idea if that business is generating income. Put simply a successful business is definitely worth running. This applies to all kinds of businesses including property related businesses. The success of any business depends on the manner in which it is managed. Businesses that involve the use of property often thrive if the property is management on which they are based is in perfect shape. Based on this, the management of property is at the centre of running a business of this kind. It is for this reason that property owners have to try by all means to manage their properties in the best way possible. Otherwise, the success of their businesses may be compromised to a very significant extent. Suppose you are wondering how best you can use asset management software to manage your properties, consider the following information.

What is worth bearing in mind

Before you can proceed to learning about the manner in which asset management software can prove to be useful in as far as the management of real estates is concerned, there is something you have to bear in mind. It is the fact that numerous ways of managing property are already in existence. Further, different kinds of computer applications for the management of software are also readily available. But, it is worth mentioning that not all applications for the management of software are actually reliable. It is entirely up to you to search for the best applications that are available on the market. This is the only way you can be sure to manage your property seamlessly and conveniently. Today, individuals that are in search of such applications often search for online property management software and property management software. This is a great way to search for the software that is available for the management of assets.

How useful is property management software?

It is now time to consider how useful the management of property can be. This is clearly explained below.

Online management of property

The online management of property is by far one of the major ways in which software for the management of property is unique and thus worth using. Imagine being able to manage your own properties from anywhere in the world provided you have access to aa working internet. It just means that you can manage your property using the software while you are on holiday. Without a doubt, this is an amazing attribute of such applications which make them indispensable.

Management of assets

Using such computer applications, it is also possible to manage your assets. Therefore, you may find such software to be useful in as far as dealing with matters pertaining to your assets is concerned.

Inspect of properties in real time

Through the use of such applications, you can also inspect your properties in real time. You can easily monitor the affairs of your properties in real time irrespective of where you are in the world.