The average landlord can expect to spend between 1% and 3% of their property's value on maintenance each year. That can really add up. But by nipping problems in the bud, you can reduce these costs.
That's why it's so important to carry out regular rental property inspections. Catching problems early can help keep your property in good condition and save you money. But many landlords aren't sure what they should be looking for when conducting an inspection.
Need some tips on key things to look out for? Read on! We've put together a list of handy tips for landlords.
1. Smoke and Carbon Monoxide Alarms
This is one of the most important roles a landlord has. It's absolutely vital that any property you rent out is safe and meets the appropriate building code regulations.
Check that all alarms in the property are fully functioning. You'll need to check any batteries are fresh, as well as ensure the alarm sounds loud and clear.
Remember, you could be subject to legal action if your property isn't kept safe for tenants.
2. Ventilation Issues
Ventilation issues are surprisingly common in rental properties and they can cause major damage to your property. A build-up of condensation can cause mold and damage to wallpaper. And poor ventilation can cause safety issues too.
If you notice any issues with ventilation, take action immediately. This could come in the form of something simple like asking the tenant to keep their windows open for longer. Or it might be something a little more extreme, like installing new air vents.
Either way, taking quick action can help you avoid major costs further down the line.
3. Pests
As a landlord, it's important to ensure your property isn't occupied by any unwanted tenants. Especially if they come in the form of common household pests!
Pests can cause major issues in a rental property. They're a health hazard and a potential cause of damage. They can even lower the value of your property.
If you notice any signs of pests, like droppings, insects, or gnawing on furniture, call pest control right away.
4. Good Tenant Behavior
If you're inspecting a property while tenants are still in the building, it's important to check they're following the rules. If you notice signs your tenant has been smoking inside the property, smuggling in unauthorized pets, or breaching the tenancy agreement in some other way, it's important to take immediate action.
This is a problem that can be addressed before a tenant moves in. A thorough tenant screening process can weed out potential problem tenants before they move in.
A tenant background check is well worth the investment. And ensuring you've collected full security deposits from all tenants is another good way to avoid problems.
More Things to Consider During Rental Property Inspections
The list above provides some good general ideas for general rental property inspections. But for best results, you should tailor your list to the specific needs of your property. Think about its individual characteristics and the things you need to do to keep it in great condition.
Want to avoid the stress of regular property maintenance? Hiring outside property managers can help!
Contact us today and find out about our full-service property management. We manage everything from maintenance coordination to the collection of security deposits and lease enforcement so you don't have to!
