Long term tenant moving out today

[Brett Anderson]

One of my long term tenants is moving today. I am taking the opportunity to brush up on my "Move out transition skills". We have mutually agreed to end the lease early. I will start the process of inspecting the property and doing a complete inventory of conditions. Completing the Security deposit return requirements. Requesting a forwarding address from my tenant. Lining up contractors to quote repairs and upgrades that I would like to do to get the property in tip top shape again. Setting a timeline to complete all projects as quickly as possible. I also will take the opportunity to have a realtor check out the house and help me determine if now is a good time to consider putting the house up for sale. I never consider selling when a tenant is living in the house and it is cash flowing. I would consider it now due to the fact that I like to get my houses in "For Sale" condition when getting ready to rent it out again. I am under no pressure to sell, Its just a good time to look at comparable properties an see how the property compares today to the rest of the market. Its also a good time to look at rent prices and determine if I can raise my rent and still be competitive. This is the time for a landlord to take action and put into effect the processes and procedures that we learn about as investors. Its the time to make changes and tweak the details. Its also the time to look at the processes we have in place for the next tenant. I enjoy this time of transition more than any other time being a landlord. It is an opportunity to exercise so many techniques and tactics that are constantly evolving in this business. Its the time to be the best landlord and build new relationships so I can find the best tenant. Time to get to work!