Why Conduct Regular Inspections on Your Rental Properties?
Hey Bigger Pockets Family!
Protecting the value of your property is essential. Here are two reasons why it is a good idea to conduct regular inspections of your rental properties.
#1 Verify that no illegal activity is taking place.
The most common illegal activity in rental properties is the consumption of illicit drugs. As a landlord, you may be under a contractual duty to report the use of illegal drugs. Also, If you are aware of illegal activity taking place in your rental property and do not report it, you could be facing fines and criminal penalties. Your rental property value can drop, as well. For this reason, it is essential to do regular inspections.
#2 Examine the property and see if any repairs or maintenance is necessary.
If your property is not adequately maintained, it could cause harm to a tenant or a tenant's guest and ultimately lessen the property value. There are several things that you should check to make sure that your rental property is staying in ideal condition. When it comes to repairs, here are a few of the most common for rental properties:
- Repainting
- Gutters
- Leaks
- Plastering
- Broken windows
- Minor roof repairs
Similar things are present when it comes to maintenance: weatherproofing, heat, water, electricity, clean premises, etc.
By following simple procedures and conducting a regular inspection can help maintain the value of your property and keep the tenants safe.
What are some other items you would look for during you routine property inspections?