Ideas for Standard Operating Procedures

[Tomas Calvino]

Hello everyone,

So I'm getting ready to start working on a standard operating procedures manual for my business. I only own and manage one rental property right now but I plan on having a lot more and it is never to early to start working ON your business. So I want to be able to have procedures written down for as many situations as possible. This way, when I need to hire people to manage my properties, I can use the manual to teach them exactly how things are done. Examples of things I want to include in the SOP manual is what needs to be given to possible tenants, how to go over the lease with a tenant, how to handle maintenance requests, how to handle emergency situations, etc. 

I would like to get ideas from fellow landlords on things that can be automated in the property management business so they can easily be taught to future employees. I want systems in place to run my business, so they more ideas the better.

Cant wait to hear what you guys got!

[Michele Fischer]

My ebook is pretty much my procedure manual with embellishments of explanations of why we do things the way we do them.  Tomas, it is as simple as writing stuff down as or soon after you do them, making notes of tips and what you would do differently.  We find it especially helpful when we don't have people moving out as often, to refresh ourselves on what to do when.

Here are the things I include:

Table of Contents:

Resources. 4

Property Selection.. 4

Purchasing/Evaluation Reminders:4

Unit Preparation.. 4

Sequencing of Repairs. 4

Crime Prevention Through Environmental Design.. 5

Remove the Cleaning Vinyl and Plastic Blinds. 5

Cleaning Cabinets. 6

Hot water heater. 6

Smoke detector & carbon monoxide detector. 6

Advertising to Applicants. 7

Utilities. 7

Pet Policy. 7

Smoking Policy. 9

Occupancy Standards. 9

Market Rent. 9

Evaluation at Vacancy. 11

Reevaluating during tenancy. 11

Change to rental rates. 11

Advertising. 11

Tenant Selection.. 12

Rating Applications. 14

Tenant Selected. 16

Rental Agreement. 16

Paperwork & Legwork needed for Move in.. 18

Move in.. 19

Maintenance During Tenancy. 19

Maintenance Needs reported by Tenant. 19

Maintenance Performed by Tenant. 19

Maintenance Inspection.. 20

Things to Keep Maintained. 20

Trees, lawn care & Trimming bushes. 20

Monthly Processes. 21

Collecting Rent. 22

Rental Financials. 22

Gather Market Rent. 22

Document. 22

Update Tenant Listing. 22

Update Occupancy Tracking. 23

Follow-up on Late Rent & Late Utilities. 23

Less Frequent Processes. 23

Here’s things to do on a routine, but less frequent basis.23

Maintenance Inspections. 23

Review Landlord/Tenant Law.. 23

Issues/Changes During Tenancy. 23

Late Rent. 23

Unpaid Utilities. 24

Mildew, Pests, or Rodents. 24

Agreement Violations. 24

Neighbor Complaints. 24

Change in Tenants. 24

Amendment to Rental Agreement. 24

Abandonment. 25

Terminate Agreement. 25

Eviction.. 25

Judgment. 26

Tenant Turnover. 26

Items left behind. 27

Turning Prior Tenants in to Collections. 28

IRS Guidance. 28

Misc. Guidance. 28

Repairs vs. Improvements. 29

Separating cost of land and buildings. 30

Family Loan.. 30

Active/Passive & Real Estate Professional31