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Updated over 6 years ago,
Typical Timeline for Tenant Turnaround- Screening, Lease, Move-in
I've been reading about the various stages of moving tenants in and out, however I can't seem to find much that puts together the whole timeline. I'm hoping to get some feedback on my general timeline, and also address questions 3, 4, and 5 specifically.
Let's say the existing tenant gives 30-days notice on 7/1 and will move out 7/31.
Immediate next steps...
1. List Property within a few days and set move-in date as 8/10
2. Screen applicants during first couple of weeks of July
3. Let's say I choose an applicant by mid-month - should I give them a couple of days to sign an "Agreement to Execute Rental Agreement" and collect a holding deposit (same amount as the security deposit let's say), and then sign the lease later in the month and collect first month's rent?
4. If they're willing to sign the lease upon approval do you even need the "Agreement to Execute Rental Agreement" form, or do you just jump straight in to the lease and collect the holding/security deposit and first month's rent?
5. Should you do the move-in inspection when you had them the keys on the move-in day? If you do the move-in inspection prior to move-in day, then do you wait to give them the keys on move-in day?
Thanks in advance!
Wade