I am back with another of our hundred and one cash flow accelerators. And one of the things that we’re focused on in this part of the series is property management, proper property management informed property management. And one of the most important things you can do in property management is to have excellent documentation and not only to have excellent, excellent documentation, but also to train your resident to be a good resident. So what we do is we have a signing ceremony, we would call it the signing ceremony and we invite the resident to come into our office. But if you don’t have an office set up a location, it could be a hotel lobby, it could be the local waffle house, Denny’s, wherever that you can have a quiet place, you can sit to be there for a while and a comfortable environment, not at the empty house so that you’re going to rent to them or the apartment sitting on the floor.
That’s not comfortable for anybody and it’s not conducive for learning and for education because that’s exactly what we use the signing ceremony for. We want our residents to be educated and trained to be a good residence, so we use that document, the standard rental agreement loaded with profits, right, and protection and negotiation. When we are sitting down with them to do the signing ceremony. Now we typically say, please get a babysitter for your kids. This is going to be focused. We need everyone who’s going to be a signatory on the agreement, which means everyone in the house is 18 years of age or older, must appear at the signing ceremony and then together we’re going to go through the documents so you could fully understand what you’re agreeing to and then when they get to the signing ceremony, we have already got our documents down, are very professionally done.
The way our forms is laid out, I mean it looks like an attorney prepared all of these documents. They’re very consistent. They’re concise, they match and have a flow. There’s a step by step process. I teach that to you. In fact, that’s available to you and our property management. This is volume eight of our Streetsmart system and this is firstname.lastname@example.org it comes with the forms and six hours of CDs that walk you through proper property management. And one of the things that we do at the signing ceremony is go through all the documentation with the resident and literally we give them a copy all complete and we have a copy and we together read that. So literally we’re reading them each thing. We’re going over each paragraph so that there is no confusion and they actually initial every page. They signed a document at the end. There is no confusion about who was present at the time at the meeting. And that’s your opportunity to train your resident to be a good resident. There’s a lot more to that conversation in volume eight. I hope this has been helpful to you.