Steve: TOP Consulting February 2025

Hi Adrienne,

Below is the summary of our February monthly call with Steve today. If anything else is needed, please let me know. Thanks!

The meeting focused on handling tenant move-outs and deposit deductions. Key points included proactively communicating with tenants about expected deductions to avoid disputes, using detailed invoices to explain repairs, and setting clear move-out instructions. The team discussed the importance of documenting wear and tear, such as carpet and paint lifespans, and the need for annual inspections. They emphasized the legal requirement to complete deposit dispositions within 30 days and the importance of clear, professional communication. The conversation also touched on the use of VA's for rental applications and the goal of having properties back on the market within 7-10 days.

Outline

Tenant deposit deductions and communication strategies for landlords.

Landlord prepares tenants for potential deductions and maintains positive communication.

Managing disputes between landlords and tenants, particularly over security deposits.

Steve discusses managing disputes between landlords and tenants, particularly over deposits.

Property damage deductions for tenants.

Stephanie explains how to handle deductions for tenant damage
Walt's method for separating tenant and owner deductions
Importance of documenting tenant damage to avoid disputes
Painting depreciation and normal wear and tear deductions

Handling tenant deposit disputes.

Steve advises against taking a combative stance when dealing with tenant disputes.
Steve suggests using annual inspections pictures to support deductions.
Steve emphasizes the importance of setting boundaries while remaining professional.

Move-out process and communication with tenants.

Steve discusses move-out process with Adrian, highlighting important instructions for tenants.
Deposit disposition instructions are sent to tenants by Anna's team once the move-out process is complete.

Move-out process and deposit return for tenants.

Steve explains the importance of providing clear move-out instructions to tenants.

Property management deposit dispositions.

Steph discusses property management with Steve.
Steve explains deposit dispositions and deadlines.
Alysia seeks clarification on charging tenants for services.

Move-in and move-out processes, deposit disposal, and goal of returning properties to market within 7-10 days.

TOP aims to minimize disruption during move-in and move-out processes to provide a positive experience for both parties.

Managing rental properties, applications, and tenant issues.

Steve discusses challenges with rental applications and renewals, mentioning personalities that can't be predicted and create problems for the tenant.
Steph mentions that a VA will take over applications, allowing them to focus on other tasks, such as picking up on new applications and managing eight properties on the market. Steve had internet issues so we wrapped up the call abruptly as the connection was in/out