The problem for many investment homeowners is that they are unsure how to know if a tenant will take care of their home. This is where we come in. Real Property Management Select completes quarterly inspections on all our properties to make sure proper maintenance is occurring.
Not only does frequent inspections help find those small concerns that could lead to bigger and more costly repairs in the future, but it also gives us as property managers a chance to show the tenants how to properly maintain the property. Simple items like adjusting the automated sprinkler system may go unnoticed by the tenants. As the seasons change, the maintenance necessary to properly upkeep the investment home also changes. Quarterly inspections allow us to stay ahead of the changing weather.
Quarterly inspections are also another great way of confirming that the tenants listed on a lease are the only ones living at the property. We have run into situations where additional tenants have tried to move into our properties with out going through the application process. These new tenants would have been missed if it were not for our inspections.
I found this article on Zillow (www.zillow.com) and it does a great job of explaining the benefits of a good Property Management Company. We inspect all our properties in person every quarter to insure they are being well maintained.
So take a look at this article by Tony Sena, and have a great weekend.
Real Property Management Select
1241 Alamo Drive, Suite 12
Vacaville, CA 95687
http://www.zillow.com/blog/2011-08-19/how-will-i-know-if-tenants-are-maintaining-my-property/
How Will I Know if Tenants Are Maintaining My Property?
By Tony Sena
In the property management business, one of the biggest concerns we hear from a landlord who is renting their property— especially when they're out of state— is: "How will I know if my tenants are maintaining my property?" The easy answer: hire a good local property management company to take care of it for you. Indeed, many out-of-state landlords have come to rely on property managers to help them maintain their investment.
But not all property management companies are created equal. In fact, many landlords are desperate for help, facing thousands of dollars in property damage. Some had been working with property management companies that only inspected the rentals once a year (which isn't often enough) and charged extra fees for additional inspections.
A good property management company will conduct rental inspections every four months to ensure the tenant is maintaining the property and to minimize any chance of future damage or neglect. Inspecting frequently accomplishes three goals:
1. It reduces the chances that the renters will damage the property (they're more likely to get caught)
2. It minimizes the cost of home improvement repairs by catching problems before they become catastrophes; and
3. It gives property managers a chance to ensure that all routine property maintenance is being taken care of.
When conducting the four-month routine inspection the property manager should:
• Be thorough, yet swift (you don't want to inconvenience the tenant).
• Check for damage or neglect. Look for damage (wall holes, torn carpet, broken fixtures), as well as signs of neglect (dirty air filters, water leaks). The property manager should document all of these findings (positive or negative).
• Have the tenant sign a "walk-through" report. A walk-through report is proof that the inspection took place and – more importantly – serves as the tenant's acknowledgment of the inspection findings.
