Leasing Process

Barker Realty's leasing process begins when new properties are added or notices of intent to vacate are received in writing from current tenants. All tenants are required to provide Barker Realty, Inc. with a written notice 30-60 days prior to vacating (even if the annual contract is satisfied). The vacate notice goes to our Property Manager. The lease is checked for the termination date.

The leasing process consists of the following steps:

1. Tenant Instructions
2. Owners Responsibilities
3. Marketing the Property
4. Move-out Inspection
5. Make Ready
6. Security Deposits

1. Tenant Instructions

A letter confirming receipt of the tenant's vacate notice is mailed to the tenant, along with a detailed set of move-out instructions. Any issues regarding insufficient notice, early terminations, etc. are dealt with immediately.

2. Owners Responsibilities

Upon receipt of the vacate notice, the owner is informed of the impending departure of the current tenants. A new rental rate is determined, based on current market conditions, age and condition of the property for rent, etc. In addition, make ready and maintenance issues are discussed so that once the tenant is out of the property, we can move quickly to get it ready.

3. Marketing the Property

The property is placed on the Availability List and the marketing strategy begins. A "For Rent" sign and/or lock box are placed at the property. All efforts are made to get a new tenant secured before the current tenants vacate in our effort to minimize vacancy downtime.

4. Move-out Inspection

As soon as keys are received from the vacating tenants, our management team inspects the property to determine the condition of the property and evaluate the work that will be needed for the transition. If necessary, digital photos documenting damages/condition are taken.

 

The management team also examines the move-in report that the tenant filled out when they initially moved into the property. If the property was damaged or left unclean, then a tenant damages form is filled out and the tenant is charged. These charges are deducted from the security deposit.

5. Make Ready

With the owner's approval, the Property Manager dispatches Barker Realty's affiliated maintenance team as well as independent contractors to complete the transition as quickly as possible. Standard make ready items include but are not limited to:

• Trash Removal
• Painting
• Make Ready (Light Bulbs, Smoke Alarm, Filters, minor repairs)
• Carpet Cleaning and/or carpet replacement
• General Cleaning
• Landscaping
• Re-Keying Locks

A make ready usually takes between 3 and 5 days, depending upon the amount of work to be done. However transitions have been completed in as little as 24 hours.

6. Security Deposits

The Property Manager prepares a Security Deposit Itemization to the tenant that itemizes all charges to the tenant's security deposit. The Security Deposit Itemization and the corresponding refund check or request for monies owed are mailed to the tenant within 30 days, as required by law. A copy of the itemization is provided to the property owner in the next Owner Statement.