Evaluating a rental investment property on a predetermined schedule is a critical practice in managing the asset. Below are several points that you need to follow to ensure you accomplish goals to maintain a solid tenancy record.
Inform all tenant applicants upon application that the property will be inspected on a routine schedule. This practice will eliminate tenants who want to conduct illegal activity or who are not going to take care of the property as responsibly as required. Inform them that it is for maintenance and customer satisfaction so that any items needing attention can be looked at and resolved in a timely manner. Of course, you are interested in managing needed maintenance, but also to make sure that no violations are occurring.
Frequency should be limited so that a tenant’s “quiet enjoyment” is not disrupted. We conduct a semi-annual and annual inspection on every property.
Document every inspection and give the tenant a copy of your report. This effort is appreciated when it is consistent, and you take action on any maintenance items discussed during the inspection. Also, if tenant responsibilities are required, give a fair amount of time before compliance is revisited. Less minor ones can be verbal and more serious ones may need another visual inspection on the compliance item only.
As always, the goal is to provide quality tenant service so they enjoy the home and it functions at an optimal level. When people enjoy their home, they tend to remain a long-term resident, which saves you money and reduces turnover costs.
We hope this has been helpful information for you and as always please give us a call so we can demonstrate how having us as your qualified, professional and customer oriented Property Manager can save you money and give you peace of mind to free you up to acquire more property.