Should I be physically visiting my LTR properties once a year?

Managing Your Property
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Should I be physically visiting my LTR properties once a year?

Roman Randall
Member since 2020 · 1 post · 4 votes

I own two long-term rentals (single family homes) in Colorado. I haven't physically been inside either property for years; I've only driven by each house 1-2 a year. Each of the tenants are great, they always pay on time, and are good with communication. They have told me when things break, and whenever I check in throughout the year the tenants say the house's condition is great. However, it still feels strange to not know firsthand the condition of each property's interior or exterior. Should I be visiting these rental properties at least once a year to inspect the interior and exterior condition, or is that not necessary? My rental agreement states I have permission and authority to do so.

Any advice is appreciated. Thank you!

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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
3y

Great question @Roman Randall, sounds like you've got some great tenants in place.

If you're handy and/or have experience with repairs or maintenance, I think its a good idea to inspect the property at least once a year. 

If preferred, you can have a home inspector check out the property each year. Many benefits to this route in my opinion.

The inspection report (typically 10-20 pages) will:

- highlight condition of mechanical systems: heat, gas, hvac, electric

- give you an idea of which cap ex items need attention: plumbing, foundation, roof

- detect hazardous conditions: termites, mold, asbestos, etc

- summarize interior and exterior condition of the property

- lastly, it sets the expectation and gives reassurance to tenants that you are on top of things

There are even tools out there that help you estimate repair/maintenance costs based on the inspection report i.e. repairpricer.com

All the best to you!

Abel

REbuild Team - eXp Realty5234 Reviews
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  • Tracy StreichPro Member
    Real Estate Broker · Tulsa- OKC Oklahoma · Member since 2017 · 868 posts · 801 votes
    3y

    @Roman Randall  We inspect all of our rentals twice per year.  We call it is preventative maintenance inspection.   It lower the defenses of the resident. We are “not checking on them”. We are checking on the house.   Smoke detectors, air filters, are there tree limbs rubbing the house….but of course we are checking the tenant, possible damages, unauthorized pets.  We charge our owners for this but ost find it well worth it. 

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  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    I would definitely check them out annually if not every 6 months

    0Reply
  • Bruce Lynn
    Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    3y

    This is your asset.....I would hire someone if you are not local to take exterior photos 1x a month, and interior inspection 3-4x a year with a checklist.   Protect that asset.   Plenty of tenants don't care if shingles are missing, or if the caulk has dried up, or the kitchen sink has a slow drip at the P trap.   Not checking those and fixing those things can cause you $1000s.

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  • Eric FernwoodBusiness Member
    Realtor · Las Vegas, NV · Member since 2014 · 992 posts · 1k+ votes
    2y

    Hello @Roman Randall,

    I am assuming that you are managing the properties yourself. If this is the case, you might have the tenant do a Facetime (or Zoom) video. With a live video, you can direct them to areas that look suspicious.

    Another option is to have a third party take photos, once a year. This is what the property managers we work with do.

    On the 10th month of the one-year lease, the service goes to the property and takes 70 to 100 photos of the interior. They do not test anything, they just capture the condition. They also provide notes, like the house smelled of cigarette smoke. If the lease forbids smoking in the house, then that would require action on the part of the property manager. Also, if there is no pet on the lease and there are food bowls on the floor, you know they do have a pet.

    The reason it is done on the 10th month is that, in many states, you have the option of renewing or terminating the lease. I owned a property where the tenant was doing great until their partner moved in. The next time the photos were taken, the interior was obviously getting trashed. We decided not to renew the lease and got another tenant.

    This happened with another property. In this case, the owner decided to significantly increase the rent based on the poor interior situation. The logic was that if they stayed, the damage would only increase. With a significantly higher rent, they can afford to do the repairs. If they chose not to pay the higher rent, they would move out.

    So, there are other options than seeing the properties yourself.

    [email protected]702-358-8884
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  • Bruce Lynn
    Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    2y

    @Eric Fernwood  What service are you using to take the photos and provide the notes?

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  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    There are now online inspection options. 

    You create the inspection template and send to tenant to walk thru the property and snap pics on their phone and upload to the software. 

    Logical Property Management4.9446 Reviews
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