No News isn't always Good News - Rental Property Inspections
Hello BP, just posted this to my website and thought this might be helpful for some of you out there.
Tenants will not always let you know:
While many tenants are notorious for requesting maintenance on every little minor item they can get their eyes on. The real culprit may be the tenant that you never hear from. No news is not always good news, you may be renting to a tenant who will not report an issue with the home. Perhaps they are used to living in bad conditions, they assume that they are responsible for the repair but cannot afford it, have been renting from slumlords for so long that this is the norm for them, or they just don't like the confrontational feeling they get when requesting a service call. Whatever the reason for not reporting problems, it may end up costing you a small fortune in the future or in extreme cases you may end up in court for hazardous living conditions.
Security Deposits may not be enough:
Security deposits are ideal for covering the cost of rental ready services such as minor repairs and cleaning but will most likely not be enough to cover major damage caused by negligence. Not only will you need to spend money beyond the security deposit for correcting the damage but you will also have to consider the time it will take to have the damage repaired. In more extreme cases correcting the problem can cost tens of thousands of dollars.
How to protect yourself or your client?
To avoid being struck by this silent property killer you will want to consider scheduling quarterly or even bi annual property inspections. These simple inspections can be performed by a property manager, owner, or your handyman service provider. If you find that a hazardous condition such as mold infestation is present you will want to contact a certified inspector or a company who is property licensed to handle the removal / remediation of such conditions.
Often times when we are dispatched to service a tenant occupied unit we find that other problems are present that the owner or property management company may want to address. Many tenants will not bother to report problems that they feel are insignificant because they just don't know better or do not care. Be sure that your tenants understand what their responsibilities are with regard to home maintenance and that they should not hesitate to let you know if something needs repair. A simple service call, or visit from a landlord to fix the problem could be all you need to prevent a serious problem with a costly repair bill.