Tenant Management Business Plan

 

Finding qualified, responsible tenants is often the most crucial step in ensuring profitable, headache-free property ownership. At TRIO, we work with the owner to handle any and all parts of this critical process, from determining the best competitive rental price for your property to vetting potential tenants and coordinating move-in. We have the resources to create professional advertising campaigns and the staff to respond within minutes to interested tenants. We implement a stringent screening process that ensures Tenants who will pay rent and take the utmost care of your property. So, whether you want us to manage every aspect of leasing your property or take over once you’ve identified prospective tenants, TRIO will help devise a personalized property marketing and leasing plan to meet your objectives.

1. Rental Rate Analysis

We begin our partnership by preparing and pricing your property for rent. TRIO performs a detailed market analysis, recommending the best possible rental price based on current market conditions, the amenities of the property, and it’s as-is condition. Additionally, we may recommend repairs and improvements that would increase your return on investment. 

2. Property Marketing

We design polished, customized advertising and marketing campaigns featuring professional, wide-angle photographs and highlighting the strengths and amenities of your property. To expose your property to the largest pool of qualified tenants, we publish an advertisement for your property on many different targeted websites. We respond quickly to interested tenants and schedule showings at times best suited for current and prospective tenants.

3. Tenant Screening/Procurement

We coordinate all interested prospective tenant showings, lease agreements & pertinent leasing documentation. Each prospective tenant fills out an application for your property. We check the applicant’s credit history, conduct background checks, perform employment verifications, and consult prior landlord references to find the most qualified tenant for your property.  Unlike other management companies, we don’t rely on tenants to provide credit information.  We use best-in-class software to guarantee speed and accuracy of reports.

4. Coordinate Move-in/Move-out of Tenants

We coordinate the move-in and move-out process of your tenants from start to finish. We inspect and document the property’s condition using photographs or video and then have tenants complete and sign a Statement of Condition form verifying the condition at move-in time. When tenants move out, we inspect again, documenting any damages and charging tenants for required repairs.

5. Rent Invoicing, Collections & Budget Projections

We handle all rent/lease collections, accounting services & budget information for all property receivables. Your tenants have access to their unique online account on our tenant portal, where they can view past, current, and future charges.  To ensure compliance with TN law, after they make payments, they can print a receipt for their records.

6. Additional Services

We handle renewals, evictions, and property inspections, along with consultation services for evaluating & possible expansion of your Real Estate investment portfolio.