The Rental Agreement should be prepared prior to the resident’s appointment to bring in their remaining funds.  You will need to complete the lease checklist (M1- Forms/Leasing/Legal docs) before you begin typing the lease.

• Confirm if there is lawn service provided on the property by Management One or by the owner’s gardener.  (Pull the owner’s agreement in the property file.)
• Confirm if the property has a pool and/or spa and if service is provided.  (Pull the owner’s agreement in the property file.  Normally, pool service is included. Print out the Pool Agreement letter)
• Confirm if there is an alarm system on the property and if service is provided. (Pull the owner’s agreement in the property file and also the property information sheet.)
• Confirm the terms of the lease, whether it is for 6 months or for 1 year. (Pull the owner’s agreement in the property file and also the property information sheet.)
• Confirm the number of garage opener remotes. (Check garage remote drawer and book.)

Note:  Also check information page in maintenance on all of the above items to confirm if any other notations have been made on the file between residents or special conditions are to be noted.

• Calculate the prorated rent:

Get your daily rent rate by dividing the entire month’s rent by 30 days. (Always use a 30 day month no matter how many days are actually in the month.)  Take that number and multiply it by the number of days the resident will not be in the property.  Then subtract that amount from the total rent rate and that becomes our prorated rent.

Example:   Resident is moving in on the 20^th of the month with a rent rate of $1400.00.

Rent is $1400 divided by 30 days = $46.67

Daily rent rate of $46.67 x 19 days = $886.73

Rent of $1400 - $886.73 = $513.27 (Prorated amount due)

Note:  An easy way to remember how many days to multiply daily rent is to take whatever the move in date is and subtract 1 day from it. i.e., If the move in is on the 20^th, use 19 days.  If the move in is on the 10^th, use 9 days.