How often do you inspect your properties?

Question

My lease says I can inspect twice in one year. I think once a year is enough if you screen well, although I did have a serious issue recently in a duplex that was caused mostly by not inspecting, and inadequate screening of an inherited tenant-that will not happen twice!! Hence the question-how often do y’all inspect your properties and do you just drive by-or enter?

Patrick Daniel · Answer

I remember hearing some people use the two inspections for "Health and Comfort" inspections, and then also doing a "fire alarm" and "plumbing"   inspection. It gets them in there up to 4 times in a year if need be. As far as I am concerned, any tenant that I need to inspect more than twice a year, is a tenant I would rather not keep.

Alex Franks · Answer

@Bjorn Ahlblad now this is just for me on the projects I am buying. Rentals are all grouped in the same area.( town) I am also in the middle of buying some lower end apartments. Yet for me and my partners. My commitment even with a management company. Is spend 4 hours (does not have to be ) on site. Once every two weeks for each project. I find the lower assets just need more TLC. Most folks would never do what I do. Yet I think this my retirement and who cares like I care about that. Then comes to restraints can you actually get there. My local rentals certain homes. I have a great relationship with some of the folks.  So I stop by and drop veggies from the garden. It's very easy to look at property outside. This tells me how the tenant is living inside. From time to time in troubling units. I would call and make courtesy coming in to change air vents and check all plumbing. If I have a problem place. I make a point to be there often. If good rental nothing wrong once a quarter.  So why not keep a check on your retirement account. Even when a rental property or apartment. Hope that makes sense.

Alex

Chris Tracy · Answer

We do quarterly site visits in addition to your typical physical inspection during the due diligence phase.  That's for buying larger apartments, out of state though... not sure if that helps.  Apartment inspections obviously different than for a duplex.

Bjorn Ahlblad · Answer

Thanks for the response Chris, I was actually thinking more about my apartment building which motivated this post. How often do you or your PM actually enter a rented unit-be it SFR, duplex or apartment?

How often do you inspect your properties?

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