There is a gap in the ‘normal’ operation of a Landlord yet there is still work that we can do to be productive in this time.
Whether you manage the property yourself or engage an agent – you must be organised and treat your letting as a business venture. Organisation skills are crucial for a landlord, being organised means keeping a record of all documents related to your tenants, property and finances.
Everyone has different systems for organising their paperwork, the key is to have a system that works efficiently for you. Set up a clear and accessible filing system for paper and online documents.
- Ensure that all official documents are kept and are easily accessible, inventories, signed tenancy agreements, documents relating to deposits, special conditions etc.
- Also ensure that any important communication with tenants is retained, for example any warning letters, local agreements regarding rent, inspection reports. Collecting everything, including all communication (email, text, and paper) with your tenant, can prevent any misunderstandings later if you have proof of all interactions and agreements. This may also be very useful if you have a case with the Residential Tenancies Board (RTB).
- Whilst you are organising your files you may wish to make copies of everything. A smart phone can be used in this respect – whenever you file something away, take a picture of it and save as a backup.
- Store files in a secure place, such as a safe or locked cabinet, due to the confidential information included on leases. Set passwords to protect digital information.