SubscribeLandlord Organization 101 – Tenant Folders – Landlording TV – #32
Tenant Folders are a necessary part of staying organized and making landlording as painless as possible! Tenant folders are the “home” for every single piece of paper sent and received between you and each tenant. Items to put into each Tenant Folder include:
- Rental Application
- All Rental Agreements
- All Signed and Dated Service Requests
- Photocopy of all Checks received (make sure your folder storage is secure for storing private information such as bank info)
- Photocopy of all envelopes received for proof of postmark date
All items in one folder above will make eviction day a breeze (or at the very least a paper trail for having accurate figures for the tenant’s balance).
Landlord Lessons:
- Having all papers in one place for each tenant GREATLY reduces “mental clutter” and you will feel much more confident knowing you have everything documented.
- Keep your folders up to date. Move your previous tenants to a cardboard storage box to keep updating tenant folders quick clean and easy!
- Use a label maker for labeling folders – clean well documented folders makes the act of storing documents less “work” mentally
