Keeping your property up to date will cut down on expenses at turnover and time vacant. If the tenant has caused the problem, staying on top of issues as they arise gives you the ability to hold them responsible while they are still living there. You can make them pay for any damages instead of waiting to use the deposit when they move out. That way you avoid a situation where the deposit doesn’t cover all the damages.
When it’s time for an inspection, notify your tenant. Tell them you are coming by to check the furnace and the plumbing systems. I recommend that you do this twice a year, once in the summer and once in the winter. If possible, do it while the tenant is home.
It’s important to keep a record for each property that includes the furnace filter size. Be sure to replace the filter while you are there since you will be checking it anyway. Use an iPhone or iPad app with an inspection checklist or way to track maintenance information preferably one that allows you to include photos with your notes. Don’t forget to ask the tenant about any problems they are having. That’s why it’s nice to do the inspection while they are home. They live there every day and will be aware of things that you might miss. Make sure to document your inspection information and follow up with any issues you find.
It is much easier and usually cheaper to fix a problem as soon as it arises, rather than waiting until it has become a major problem. Nothing is more frustrating than having to pay big bucks to get something fix that could have been fixed with a $5 part when the issue started.
Here are 3 examples of simple things to check that will save you big bucks in repairs.
- Door stops – prevent the need to patch drywall
- Garage door – grease chain and joints and tighten chain as needed
- Caulking – check around tubs back splashes
Check all exposed plumbing for drips or dampness, under sinks, and behind toilets. Pay close attention to supply lines. If you miss a leak it could be months before a tenant lets you know about it at which point you may have to shell out thousands of dollars to replace the subfloor.
A proactive landlord or property manager will perform regular property inspections and hold tenants accountable for issues that arise at the property during their lease. Keeping properties maintained means you will have less downtime between tenants resulting in a higher occupancy percentage at the end of the year and that translates to more money in your pocket.
