Your source for expert information on housing in South Dakota

A Guide to Paperwork Every Property Manager Should Have On Hand

19-SDHousing-0616-Oct2019_AGuidetoPaperworkEveryPropertyManagerShouldHaveOnHand-

As a property manager, there is a variety of paperwork that can prove useful to the operations of your business. From tenant documentation and applications to items useful in informing and educating your renters, be prepared for anything.

Here are five such pieces of paperwork it's a good idea to keep on hand.

REQUESTS FOR ENTRY

Not only should you supply your tenants with a clear outline of what constitutes "notice" when it comes to a property manager entering the premises after move-in, you should also keep a record of when said notice was posted. In the event you need to enter a unit for a furnace filter change, an appliance installation, etc., keep note of when your notice was posted in case it's called into question at a later date.

MAINTENANCE RECORDS

Tenants have the right as renters to a safe, secure place to live. As such, there may be occasions where your staff may be requested to repair malfunctioning appliances or other items in the units. It's important to keep a good record of each of these maintenance calls, including times and dates, the nature of the calls and receipts for any equipment required to complete the maintenance. This way you have proof of completing the job in case you need to provide this documentation.

APPROVALS & DENIALS

To cover your bases both for legal reasons and in case tenants request them, it's a good idea to keep your notices of approval or denial of a rental application on hand. These correspondences can help to shed light on the reasoning behind an approval or denial in the event a tenant or tenant-supporting organization questions your methods. (The same goes for any notices of eviction—keep a record of the entire correspondence on the matter for posterity's sake.)

FEE TABLES

For the convenience of your tenants and to protect yourself in case of contesting, consider having an easy-to-read table of your fees available for tenant viewing. This might include fees for damage, late payments, pet policy violations, etc. You could also make the fees even more visible to your renters by printing them on a magnet, along with your direct phone line and email address, and placing them on tenant fridges prior to move-in. That way everyone involved is on the same page.

SECURITY DEPOSITS

Do you require a security deposit from your tenants? Make sure you have paperwork regarding receipt of a deposit, as well as documentation of a post-move-out inspection and the results that impacted said security deposit. One additional piece of paperwork good to have on hand both for you and your tenants' sakes is a document that outlines the upkeep expectations that could impact the full reimbursement of the security deposit. This will ideally increase the likelihood that your tenants will strive to meet your standards of care.

SDHDA Blog (Subscribe)

Topics: Property Management

Subscribe to Our Housing Newsletter

Recent Posts

Free e-book download: A South Dakotan's Guide to Buying Your First Home, Volume 2: Searching