As a landlord, you can enjoy passive income, being your boss, and increasing your home value. There are countless benefits. But there is one hurdle everyone must overcome: house inspections.
Although this is not a desirable duty, it's one of the most vital. Unfortunately, carrying out the task isn't as straightforward as it might seem.
Fortunately, you found our Rental Property Inspections Guide. Below, you will uncover the four best practices to utilize!
Schedule Inspections in Advance
By failing to prepare, you're preparing to fail. These famous words are ideal for landlord and rental property inspection laws. Otherwise, you could fall behind in your tasks or even breach legal compliance.
First, scheduling in advance will help you stay organized. You won't have to rush through the checks because you have a meeting across town in an hour.
Second, you can break legal regulations, which could lead to court cases. In Greenville, SC, you are obligated to give 24 hours advance notice. However, your renters will appreciate 48 hours' notice.
Perform Regular Inspections
The average household spends over $3,000 annually on repairs. The longer you wait to address the issues, the more expensive the bill will be.
Even if you find responsible tenants, they might not acknowledge problems. Some include overseeing mold in the basement or HVAC systems when it's out of season.
The key to a bright future is balancing too many and too few checks. In general, you should have a thorough annual inspection and four quarterly inspections.
Create an Inspection Checklist
You wouldn't disregard a detailed checklist when hiring a moving company. You also shouldn't oversee a list when ensuring your investment is in top condition.
Some of the most essential maintenance features you should include are the following:
- Structures, including walls and roofing
- Applicants
- Plumbing
- Electrical Systems
- Heating and cooling systems
- Pest Control
- Landscaping
You can ensure consistent checks by carefully inspecting and ticking each feature off your checklist. In addition, it will give you peace of mind until your next quarterly inspection.
Document Findings and Take Photos
Alongside your checklist, you should have space to record findings and take photos. You can use this as evidence in the case of legal proceedings. Unfortunately, this is not uncommon, as landlords fill 3.6 million conviction cases.
The document could also help prevent court cases. By simply showing the tenant your findings, they will acknowledge that they are in the wrong.
Communicate With Tenants
You must communicate the purpose of the inspection to tenants. Additionally, address any concerns they may have. It may seem pointless, but 86% of employees state that a lack of talking is the primary cause of failure.
Be open to receiving feedback and address any requests raised during the check. Effective contact also helps build trust and enables a positive landlord-tenant relationship.
Utilize the Best Strategies for Rental Property Inspections
After reading our Rental Property Inspections Guide, you will learn how much time and effort goes into the process. You also learned how to enforce a plan and utilize the best strategies.
But did you know that you can put all this in place without lifting a finger?
Flagship Realty Group has 17 years of local knowledge to implement the most effective strategies in Greenville.
Contact us today to learn more about how we can get the most out of your investment!
