Maintenance and repairs cost the average household around $6,000 annually. Without regularly conducting rental property inspections, unwanted bills could double in size.
Inspections are vital for safety, tenant satisfaction, and complying with lease agreements. However, they could also go as far as legal complications.
Knowing when and how to do them can be challenging. It is particularly problematic if you are a newcomer to this sought-after industry.
Luckily, you found our guide. Below, you will uncover professional secrets on how to optimize this landlord duty.
1. Schedule Inspections in Advance
There are two significant reasons why you must schedule inspections in advance.
Firstly, this will give you time to organize and prepare the checks. You may miss or skip items if you rush your examination. As Benjamin Franklin once said, "By failing to prepare, you are preparing to fail."
Secondly, there are rental property inspection laws to adhere to. Every city or state differs in their rules, but most say you must give at least 24-48 hours' notice. In Virginia Beach, VA, you must provide 24 hours to your renter.
2. Create a Rental Property Inspection Checklist
Creating a rental property inspection checklist should always be your priority when checking a home. Without one, you will overlook issues leading to more damage if there's a problem.
By following a list, you will learn what to examine in the future, and it will become second nature. Research shows that by using bullet point records, you will remember almost 34% more items.
Some of the most essential things to look out for are:
- Pests and Mold
- Structural integrity, including walls, doors, and floors
- Ventilation and insulation
- Heating and cooling
3. Document the Inspections
From photos to notes and recordings to conversations, you must document the inspections. Record any items that need repair and work that has gone into fixing any issues.
Documenting is critical as you can use this as evidence if legal matters ever occur and if you're renters refuse to pay.
4. Address Any Tenant Concerns
Take the time to address any concerns or issues raised by the tenant. This is an opportunity for open communication. It can help in building a positive landlord-tenant relationship.
Listen to their feedback and, if necessary, make reasonable accommodations to resolve issues. But remember that the renter must fix any minor issues or problems that they have caused to the house.
5. Communicate and Give Feedback to Your Guests
Talking is the secret ingredient to a solid landlord-tenant relationship. Studies show that 86% of workers state poor communication as the reason for job failures.
Reporting the good and bad after every review is essential. This lets tenants know that you are serious about the inspection. In addition, it gives them a chance to discuss and rectify problems.
By giving transparent and honest feedback, people will feel valued and respected.
Handle Rental Property Inspections in Virginia Beach the Right Way
Being a landlord is one of the most sought-after professions nationwide. There are countless benefits of being one. You generate passive income, enjoy tax benefits, and witness property appreciation.
However, handling rental property inspections is not one of them. But did you know that you can avoid this headache?
By hiring PMI Virginia property management service, you can reap the rewards while we manage the nitty gritty!