New Owner Onboarding Guide | Options Property Management

Welcome to Options Property Management!

We're excited to partner with you in managing your rental property. This guide walks you through the onboarding process step-by-step, so you know exactly what to expect and how to prepare.

Onboarding Timeline

Step 1: Initial Consultation (Day 1)

We meet to discuss your property, goals, and expectations. We'll answer questions about our services, fees, and processes. This is typically a 30-45 minute phone call or in-person meeting.

Step 2: Property Evaluation (Days 1-3)

We assess your property's condition, recommend any necessary repairs or improvements, and provide a rental market analysis to determine optimal pricing.

Step 3: Agreement Signing (Days 3-5)

Review and sign the property management agreement. We explain all terms, answer questions, and ensure you understand our partnership.

Step 4: Documentation & Setup (Days 5-7)

Complete onboarding paperwork, set up owner portal access, provide keys and access codes, and establish financial account connections.

Step 5: Property Preparation (Days 7-14)

Complete any recommended repairs or improvements. Professional photography and property marketing materials are prepared.

Step 6: Marketing Launch (Day 14+)

Your property goes live on all major rental platforms. Showings begin, and we start screening applicants.

Required Documentation

📋 Documents We'll Need From You:

Property deed or title documentation
Current property insurance policy (with us as additional insured)
HOA documents and rules (if applicable)
Recent utility bills and account information
Appliance manuals and warranty information
Keys, access codes, and gate remotes
Existing lease (if tenant occupied)
Security deposit documentation (if applicable)
Vendor contact information (preferred contractors, etc.)
W-9 form for tax reporting

Property Information Collection

We'll gather comprehensive information about your property:

Physical Details

Property address and legal description
Bedrooms, bathrooms, square footage
Parking spaces and type
Appliances included and their age/condition
HVAC type, age, and service history
Water heater details
Roof age and condition
Special features (pool, spa, fireplace, etc.)

Operational Information

Utility providers and account numbers
Trash collection day and provider
Landscaping schedule
Pool service schedule (if applicable)
HOA contact and payment schedule
Emergency shut-off locations (water, gas, electric)
Property quirks or special considerations

Setting Your Preferences

During onboarding, we'll establish your management preferences:

Approval Thresholds

Emergency repair authorization limit (typically $500)
Non-emergency repair approval process
Capital improvement decision-making
Tenant application criteria flexibility

Communication Preferences

Preferred contact method (phone, email, text)
Best times to reach you
Frequency of property updates
Preferred reporting format

Financial Preferences

Distribution method (ACH or check)
Reserve account balance (recommended 1-2 months expenses)
Bank account information for transfers
Bill payment preferences (mortgage, insurance, HOA)

Preparing Your Property

To achieve the best rental price and attract quality tenants, we recommend:

Essential Preparations

Deep cleaning - professional cleaning service recommended
Fresh paint in neutral colors (if needed)
All appliances in working order
HVAC serviced and filters changed
Minor repairs completed (leaky faucets, loose handles, etc.)
Carpet cleaning or replacement if heavily worn
Landscaping trimmed and presentable
Light bulbs working throughout
Smoke detectors and CO detectors functional
All locks working with keys provided

Value-Adding Improvements

Updated light fixtures in key areas
Modern cabinet hardware in kitchen/bath
New flooring in high-traffic areas
Updated faucets and fixtures
Energy-efficient upgrades (programmable thermostat, LED bulbs)

Owner Portal Setup

You'll receive login credentials for your secure owner portal where you can:

View real-time property financial data
Access monthly statements and documents
Review and approve maintenance requests
Track rent collection status
View property inspection reports and photos
Communicate with your property manager
Update your contact information and preferences

Marketing Your Property

Once your property is ready, we begin comprehensive marketing:

Professional Marketing Package

Professional photography (15-25 high-quality photos)
Compelling property description highlighting key features
Virtual tour or video walkthrough (when appropriate)
Floor plan (for larger properties)
Listing on 20+ major rental platforms
MLS exposure for maximum reach
Social media promotion
Yard sign placement

Tenant Screening Process

We explain our comprehensive screening criteria:

Credit Check: Minimum 650 score (flexible based on other factors)
Income Verification: Minimum 3x monthly rent in verifiable income
Employment Verification: Current employer contact and confirmation
Rental History: Positive references from previous landlords
Criminal Background: Case-by-case review following fair housing guidelines
Eviction History: Typically disqualifying if within past 5 years

First Month Operations

Here's what happens in your first month with us:

Month One Timeline

Week 1: Property goes live, showings begin
Week 2-3: Applications received and screened
Week 3-4: Tenant approved, lease signed, move-in scheduled
Day 30-35: First rent collection and statement delivery
Day 40: Your first owner distribution

Questions? We're Here to Help

Throughout the onboarding process, feel free to reach out with any questions. Your dedicated property manager will guide you through each step and ensure you're comfortable with all aspects of our service.

Ready to Begin Onboarding?

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