Lease Up Checklist- Tips and Things to Consider

                  

    

Below is a list of things to consider when building a new community and deciding to manage in house or hire a management company. This list can help you decide which one is more cost effective.

1.        Community name and logo
2.        Market prices for each unit type based on location and views
3.        Utility fees- in house or Conservice
4.        Renters insurance- required or not
5.        Units- Furnished units,  Corporate units or furniture rental option
6.        Specials- promotions/ concessions and referral program
7.        Miscellaneous Fees –application, preparation fee, parking, keys, storage, laundry etc.
8.        Deposit amounts- refundable or Sure Deposit
9.        Lease terms- Move ins and renewals  12 month, month to month and staggered
10.         Petty cash amount
11.      Staffing- How many staff members temporary and full term
12.    Manager- bilingual, Real Estate licenses and certifications
13.    Maintenance -  A/C and pool certifications
14.    Uniforms, badges and maintenance ID’s
15.    Office hours and days closed
16.    Answering Service
17.    Security and or neighborhood watch
18.    Salaries and leasing bonus or commissions
19.    Employee lease Contract for on- site staff
20.    Office paperwork – lease contract, all addendums, application to rent, community rules and regulations
21.    Five day notice- 3 day or 5 day
22.    Eviction service and or certificate of mail book
23.    Manager’s computer and office equipment. Copier, scanner, fax, shredder etc.
24.    Community email addresses for staff members
25.    Computer program for rental entries and posting rents- Yardi or Onesite
26.    Collection agency
27.    Weekly occupancy reports
28.    Procedure manual
29.    Credit company to run credit on new applicants to lease- Safe rent or Corelogic
30.    Banking – Scanner and debit card or credit card machine
31.    Website with ability to pay on line or not
32.    Payroll program ADP or time clock 
33.    Resident files- cabinet with lock
34.    Safe
35.    Rent night drop
36.    Keys to units- coded system and locked. Check out written or automated
37.    Brochure and floor plans
38.    Map of community both sign and print copies
39.    Letterhead
40.    Guest cards
41.    Business cards
42.    Marketing materials- flyers, postcards etc.
43.    Newsletter and calendar of events
44.    Market survey report and closest comps
45.    Mystery shops and staff training- Grace Hill or Multi Family Pro
46.    Marketing plan and demographic report
47.    Location- Area schools, universities, military bases, malls, shopping centers, restaurants, hospitals, bus lines, freeway access and major employers
48.    Events- Classes, parties, snacks, coffee and beverages offered daily
49.    Shuttle Service
50.    Fair housing poster for leasing office
51.    Equal opportunity housing symbol on all print products
52.    Contractors and vendors- landscaper, pool service, pest control, cleaning, carpet cleaning, painter, replacement and repair suppliers  as well as office supplies and equipment repairs
53.    Maintenance shop, tools and equipment
54.    MSDS Sheets
55.    Unit make ready board
56.    On call phone for 24-hour maintenance emergencies
57.    Two way radios for office and maintenance staff
58.    Portable heaters and a/c’s
59.    Gated or non-gated community
60.    Outdoor Amenities- garages, electric vehicle station, storage units, pool, spa, putting green, Bicycle rental, BBQ and picnic areas, laundry rooms, child’s play area, tot lot, toddler play area, clubhouse, wifi lounge, e lounge, charging station, Internet café, coffee bar, fitness center, business center, library, conference room, theater room, basketball court, tennis court, concierge service etc.
61.    Unit Amenities- vaulted ceilings, skylights, window seats, fire places, spa tubs, Ceiling fans, walk in closets, dishwasher, microwave, washer, dryer, Accent walls, granite counter tops, tile floors, wood floors, crown molding etc. 
62.    Models or mini models (Temp models)
63.    Music for office and models- Piped in surround sound or radios
64.    Rental amount of clubhouse or common area
65.    Dumpsters, mailboxes and parcel boxes
66.    Soda machines- purchased or vendor
67.    Golf cart and or maintenance cart
68.    Alarms and cameras
69.    Sign package and flags
70.    Advertising- For rent, Apartment Guide Magazines or other print publications
71.    Certifications and memberships- Chamber of Commerce and Apartment Association
72.    Social media pages
73.    Pets- Pet friendly with weight restriction, large pets allowed or no pets allowed
74.    Pet stands and or pet friendly area
75.    Service animals and other ADA approved items
76.    Liability and compliance binders- Yearly smoke alarm, fire extinguisher, fire sprinkler, fire hydrants, unit inspections, a/c, pool and monthly safety meetings
77.    Smoking or non- smoking units and common areas
78.    First aid kits for office and maintenance rooms
79.    Pool emergency phone, safety equipment, supplies and rules posted with any age restrictions
80.    Fitness room equipment, free weights or not. Rules and age with or without an adult posted
81.    Parking- covered carports, assigned or open spaces
82.    Boat or large vehicle parking
83.    Landscaping – trees, shrubs, turf and or rock
84.    Solar Panels and other green or energy efficient items
85.    Tow Company and private parking signs  
86. Pool water features and child's water play area
87. Washers and dryers in unit, laundry room or both
88. Name for each floor plan