In this course, you will review the 6 steps in the rental process and what your options and responsibilities are each step of the way. You’ll notice that a learning module is devoted to each of these steps – from preparing the property for rent, finding a tenant, tenant signing a lease, the processes during the tenancy to ending the lease and moving out. The online resources section includes an extensive library of DIY tools and tips.
Through a new business approach you can more strategically manage your investment, reduce your business risks, maximize returns.
The Effective Landlord training provides an understanding of the relevant laws, ideas and tools to help you navigate through the rental cycles, to better manage your investment returns and find suitable tenants and to manage your existing tenants.
The landlord rental cycle is explained through 6 distinct steps:
For each step in the rental process, you will find a learning module that focuses on that step. Each step contains from 2 to 6 lessons that will review for you the most important things you should know about each topic. After you have reviewed all the lessons in a step, you will take a quiz. You need to earn an 80% on the quiz in order to be able to move on to the next step. You can take the quiz as many times as you need to, until you achieve the 80% success rate. In other words, the testing itself is a method of reviewing and learning for you.
You will take this course in the order its presented, finishing one step before moving on to the next one. At the end of the course, you will be able to print out a certificate that proves you have successfully completed the course. This certificate can be presented to your lender or insurance company when you are trying to negotiate new loans or policies.
You will notice that Step 6 of the rental cycle is not included in this course.
The Effective Landlord training comes with a TWO bonus courses:
- Resources for Tenants and Landlords which assist tenants in need of emergency services or help relating to housing, financial and legal needs.
- Home safety and maintenance – give lots of helpful advice on how to care for the property you’re renting. Be sure to Bookmark this LSO site so you can return to the Resource Package whenever it’ll be helpful to you.
Step 1 – Prepare the property for rent
Short sentence to overview the lessons
- DEFINE YOUR NEEDS:
- What kind of property suits your needs? Where should you rent? What can you afford? Should you share with others? How should you prepare to move? What is the fair rent for this property? How to compare alternatives? These lessons will help to identify the best property and location for your needs.
- PREPARE YOURSELF:
- What do you need to prepare to rent? How should you present yourself? What are landlords looking for? How to stand out as being an excellent tenant? How do you present bad news in a better light? These lessons will help plan your application to rent logically, and to present yourself as a responsible tenant.
Step 2 – Finding a tenant – selection criteria, screening, fees
Short sentence to overview the lessons
- Where are properties advertised? What should you look for when inspecting a property? How much to pay? What is the screening process? How much will the application process cost? Are my fees refundable? These lessons will provide an understanding of how to find a property, what information should be provided with the application and what the screening process will entail.
Step 3 – Sign up / move in
Short sentence to overview the lessons
- What is a Lease? What is a Rental Agreement? What are the rules for this particular property? What documents will I need to sign? What are the real costs of renting? What is the tenant responsible for? What is an inspection report? What documents must I sign? These lessons will provide an understanding of the terms of the lease and the differences between a lease and rental agreement.
Step 4 – During the rental period
Short sentence to overview the lessons
- How do I pay my rent? What happens if I can’t meet my obligations? How do I change the terms of my lease? What happens when a lease term is breached? What privacy can I expect? These lessons will provide an understanding what happens if the terms or the lease are broken, if illegal activities occur at the property, and the responsibilities of tenants and landlords for repairs and maintenance during the rental period.
Step 5 – Ending the rental period
Short sentence to overview the lessons
- What happens at the end of the Lease? Can a lease continue? What are the tenant’s responsibilities when coming to the end of a lease? What must the tenant do to get their deposit back? What are the cleaning standards required when ending a lease? When should I get my deposit back? What happens if the tenants deposit is not enough to cover damages? Do I get my deposit back if my lease turns into a rental agreement? These lessons will provide an understanding of the issues encountered when coming to the end of a lease, or when vacating the lease?
Step 6 – Resources Toolkit / Laws and rules governing renting residential properties
- Note the Resources and Laws and rules are in separate courses in this system.
- The Resources Toolkit describes is very useful in creating a safe and healthy home. This course contains helpful advise on who in generally responsible for repairs, how to create a safe and healthy home, how to make repairs, general tips about matters relating to healthy homes and lives. Useful contact numbers are also included.
- Laws and Rules are very important. You will notice that Step 6 of the rental cycle is not included in this course. The LAWS Course is a separate course and contains information relating to various states. Please review the laws relevant to your location.
