I am interested to know how often in a 12 month lease either owners or PMs inspect their properties? On average how long does an inspection take? Is it a nightmare? And if you were going to pay a company to do it, what is a standard fee?
Of course this is my personal opinion. I would say once or twice a year. I also like to use different lingo as well like, energy audit. I go in and not only inspect the dwelling for any unknown damages. I also inspect plumbing to assure there aren't any leaks, maybe filter replacement, co and smoke batteries.
I hope I was of some help!
I inspect once a year as long as there are no problems. I try to inspect in the latter half, typically around the nine month point before I decide to renew their lease.
If they have problems like late rent, failure to maintain the lawn, noise violations, or other issues, then I will inspect more often. With 230 units and only inspecting once a year, I rarely have a problem.
I do ask my plumbers, electricians and other vendors to alert me if they see/smell anything strange in a rental. I've caught some problems that way but it's pretty rare.
I inspect every 6months and say it's for changing the air filter which we do but we also check for hoarding and overall condition of the property.
Prior to renewal and at any time the red flags start waving, i.e. Consistently late rents, excessive repair/maintenance issues, extra car in the driveway, a dog or cat watching out the window you didn't know about, code violation letters, etc etc. A simple drive by on occasion can answer a lot for you.
Once per year is fairly typical.
In my opinion, the type of tenants who are going to fully destroy your carpet and paint will cause that damage within the first six months of their occupancy. This will vary by your location, property type, etc, but in the homes that I've managed I would guess maybe 1 in 10 tenancies are like this. If a tenant destroys your carpet and paint (and if they aren't otherwise damaging other parts of the property), then you might as well leave them in the property as long as possible, collect as much rent as possible to offset your rehab costs, and defer the turnover as long as you can.
Thank you guys! Really appreciate it!
I inspect every quarter. This is a reasonable time period to change furnace filters, check smoke/fire alarms and insure the tenants have not done any damage to the property.
Tenants are generally very irresponsible in regards to reporting issue and as a result landlords must stay on top of issues and insure things are repaired promptly and, when responsible, tenants are billed for repairs.
Water and septic leaks can do a great deal of damage over a 6 month time period. Waiting till tenants are preparing to leave often results in a battle over security deposits.
I can inspect the interior of a unit in less than 15 minutes by following my routine inspection list.