Wouldn’t it be nice if every tenant cared as much about your property as you do?
As a rental property owner, you likely take pride in your investment. Not only is it annoying when tenants damage your property, but it’s expensive as well. Security deposits only cover so much, and getting more money out of tenants is difficult and time-consuming.
The best course of action is to take proactive measures to avoid these headaches. In addition to screening for trustworthy tenants, you should also be conducting regular rental property inspections.
Inspections ensure that both the landlord and the tenant are on the same page about the expectations for the property. For tips on how to conduct a good inspection, read the article below.
Get Familiar With the Different Types of Rental Property Inspections
The best property managers conduct inspections throughout the length of the lease agreement. It starts with the move-in inspection.
This is when you look at the inside of the apartments or homes for rent to determine if any damage exists already. If you do see any damage, be sure to make sure the tenant knows they are not responsible for it in their security deposit.
The next inspection every real estate investor should know about is the routine inspection. You should conduct this inspection every six months or so while the tenant is living in your rental property.
Make sure the tenant is aware of these inspections when they sign the rental leasing agreement. Doing these inspections regularly can help prevent evictions, as you’ll be more familiar with the tenant’s status.
Another type of inspection is the drive-by inspection. You can conduct these without invading your tenant’s space; it’s simply an inspection of the outside of your property.
Finally, you should also be conducting move-out inspections. During the move-out inspection, look for any damage that was not there during the move-in inspection. It may be a good idea to bring the move-in inspection sheet with you to compare how the property looks.
As you can see, there is a lot that goes into property inspections. This is why some real estate investing professionals choose to hire a property management company to perform each inspection.
Make Sure Your Tenant Is Present During Inspections
The best way to ensure you and your tenant are aware of each other’s responsibilities is to do the inspections with the tenant present. Have the tenant look for any existing damage during the move-in inspection, and make sure they’re aware of any damages they’re responsible for during the move-out inspection.
Use Inspections to Stay Informed About Your Property
The more inspections you do, the easier it will be to calculate costs for repair and possible costs you’ll need to take out of the tenant’s security deposit. In short, regular inspections will help you optimize your budget. If you need help with rental property inspections and other property management tasks, get in touch with the helpful team at Jacksonville Property Management.