How would you react if you found out a grenade had gone off in one of your rental properties? As it turns out, that's only one of the weirdest items property managers have found after a move-out. It's up there with an assassin kit, farm life, and an entire vehicle.
As a rental property owner, you can't just ignore renters as long as they pay rent every month. The only way to know for certain what's happening on your property is through rental property inspections.
Here's why regular property inspections are an important part of being a landlord.
Maintain Rental Property Value
The best piece of landlord advice you can get is to stay on top of your routine property inspections. You never know when hidden threats like a burst pipe or termites could appear and cause significant damage to your property.
At the very least, you should inspect your property every six months. However, you may want to make routine visits between those inspections to make sure that renters haven't made any significant changes or renovations. This can help make sure that the rental property's value hasn't lowered.
Perform Property Maintenance
After an inspection, you may discover that your property has suffered some kind of damage. Property repairs may be needed, and you shouldn't leave that up to the renter to sort out. In most cases, the landlord is responsible for any essential repairs.
Some of the more basic repairs should include fixing up windows, plumbing, and any heating elements. In addition, a well-maintained property will attract more tenants in the future.
Keep in Touch With Tenants
How much do you know about your tenants? While you may not think it's important to socialize with them, it may be key to understanding how to handle more problematic renters.
If you exist as this external element with all the authority, your tenants may not be so willing to communicate with you. They could go behind your back and install shelving without permission or do repairs without notifying you.
Instead, try to become a fixture of sorts in their lives. You don't need to befriend them, but you may want to be familiar.
Protect Your Investment
Most importantly, you should perform rental property inspections to protect your investment from things like legal trouble or costly repairs.
Make sure everything is secure and up to code. If there are crimes in the area, then consider installing a security system for more protection. Keep an eye out for any insurance policy violations.
Don't Forgo Rental Property Inspections
Rental property inspections may seem like a waste of time, but they're important to perform as a landlord. Even if you have a property manager on the payroll, you should still visit your investment in person from time to time. At the very least, you can check in on your tenants.
PMI Summit provides property management in the Cedar Hills area that you can trust. Our services cover residential, commercial, realty, and more. Contact us if you have any questions and to schedule a consultation.