Checklist for Lease-Options and Leases

The checklist to remember all the important points

When you are leasing out your property you must make sure that everything is done correctly so that you do not forget the main ingredient of it. The checklist is the best to do the work in an organized way till the end.

The checklist for lease-options and leases should contain all items that are required for the application process such as

• The credit application and the receipt of it being received.
• The order credit report
• The verification including that for age gender rental history and credit report.

Once the application process is complete and the application gets approved you must make another list which should contain

• The lease agreement
• The rules and regulations set by the landlord
• Option agreement
• The report of inspection but only if it has been carried out
• All the utilities are turned off.
• Decision to use the pool
• Removing sign and lockbox

There are many such points that may be included in the checklist and make the list as elaborate as you can because one point missed at the time of optioning of lease may cost you dearly.

The lease option is the best thing at the present time because of the large companies the people is not able to sell their property as desired. You must wait for the favourable period to come back and in the meanwhile give your property on lease for one to two years. This will sail you through this rough patch smoothly.

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Sample Template Preview

CHECKLIST FOR LEASE OPTIONS AND LEASES
Including “Work for Equity” Program

Property Address:___________________________________________________

Application Process:

          .Credit application
         .Application Receipt Deposit for property if necessary (certified funds)
         .Order Credit report
         .Verify job, rental history, credit

Once Application Approved:

         .Lease Agreement
         .Landlord Rules and Regulations
        .Option Agreement if necessary
        .Work for Equity Program if necessary
        .Inventory and Inspection Report, only if lease
        .Lead Based Paint Addendum if built before 1978
        .Balance of Move-In Money (Certified Funds only)
        .Make sure Smoke Detectors and Security Devices are in place
        .Re-Key Locks
        .Turn off Utilities
        .Cancel Lawn and/or Pool Maintenance
        .Remove Signs and pick up Lockbox
        .Set up Rent as Due and Payable each month
        .If Agent involved, write Commission Check and sign Broker Agreement
        .Terminate all advertising
        .Welcome letter to Tenant
        .Make sure all documentation is in the Tenant folder and put in file cabinet