Several things happen after you sign a management agreement and begin working with a professional property management company. You should know that I am a real estate investor in the Columbus market myself, and I have my properties managed by Bradstreet Proper as well. When I bring a new property to Bradstreet, I receive the same treatment as you do.
Analyzing and Marketing the Property
First, we’ll analyze the property. It’s important to establish what it will rent for. If the property is vacant, we do a full inspection. We want to annotate what’s going on at the home and document the status of the property before we move in a tenant. Next, we start marketing the home. We will put the listing out there and begin showings and screenings. The goal is to get a tenant placed quickly.
Tenant Screening and Leasing
In Columbus, it doesn’t take long to fill vacant units. Usually, we can find a well-qualified tenant for your property in less than a week. Sometimes, it can take a little longer to process applications, but your home will never be vacant for longer than it needs to be. Once we fill the property with the right tenant, we will inspect the unit again, with the tenant. At that point, we document the condition of the property and take a lot of pictures to establish how it looked at move-in. After the tenant moves in and the lease term begins, you will start collecting your rental checks.
We have a three-legged stool approach to screening. Before we approve a tenant, we look at rental history, FICO score, and employment verification. You know that when this person comes in, you will likely have a good experience.