This Property Manager & Investor package provides a full spectrum of contracts for successfully managing tenants and your properties, including:
- Lease Agreement,
- Rental Application
- Consent & Authorization of Background and Credit Checks
- Move-In Move-Out Form
- Notice of Security Deposit for Property
- Letter to Tenant Move-Out Reminder.
- Late Notice of Overdue Rent
- Ten (10) Day Notice to Quit (Final Notice)
- Owner Operating Agreement
- Manager Operating Agreement
- Independent Contractor Agreement
- Installment Payment Plan
- Settlement Agreement (Cash-for-Keys)
- Property Management Agreement
- Steps to Managing your Own Rental Properties
- How to Start an Indiana LLC
The Lease Agreement is the foundation contract that outlines what is expected of the Tenant and the consequence if the Tenant fails to meet those expectations. The expectations include their responsibility regarding rent, utilities, damages, and deposits. The consequence relates to late fees, limitation of your liability, and waiver of jury trial if you need to pursue eviction and damages. This Lease will be signed by Tenants and you keep a copy in their file.
The Rental Application is used for the purpose of gathering information on a prospective Tenants. With the information gathered, you are seeing if this tenant is going to be a future problem or a successful Tenant. The best protection you can have is to have good filtering systems. This Rental Application also gets information on how to contact the Tenants if there was ever a breach in their Lease Agreement.
The Move-In Move-Out form is for the Manager to complete with the tenants prior to or on the day the tenants move in. When the Manager has been notified by the tenant of their intentions to move, all parties will go back through this checklist and mark if anything has been damaged, removed, or is still in the same condition. When the Move-Out inspection is completed, both parties will again sign this document. In this form, you will list the estimated damages and a copy is then provided to the tenant with their Notice of Security Deposit for Property.
The Notice of Security Deposit for Property states that you are fulfilling your statutory requirement to return the tenants’ security deposit under Indiana Code §§ 32-31-3-9 to 32-31-3-19. Under Indiana Code § 32-31-3-14, you are required to mail the tenant (within 45 days of the termination of the Lease) a written list which itemizes the deductions from the security deposit,
This Letter to Tenant Move-Out Reminder is a friendly reminder of what the tenant must do prior to moving out for a smoother transition to the next tenant.
The Late Notice is the first notice you send to a tenant who has failed to pay rent on time. This should be an automatic process if they don’t pay by the 3rd of the month.
The Ten (10) Day Notice to Quit (Final Notice) letter provides notice to the tenant that they are overdue and have ten days to either make a payment of their late rent or move out no later than 10 days after receiving this Notice.
The Property Management Agreement is between the Owner of the properties (which my be your Holding Company LLC) and your Property Management Company LLC that will manage the properties on behalf of the Owner. This Agreement lays out the expectations and accountability of the Property Manager and the Owner, such as compensation, operating budget, rental & marketing standards, legal liabilities, housing quality standards, maintenance responsibilities, and other day-to-day responsibilities.