One top priority of a rental property investor is to save money and maximize ROI. So whether it's by finding great deals on properties or discovering ways to get the most out of upgrades, investors must look for ways to increase ROI.
Being proactive about rental property maintenance is an excellent way to accomplish that goal! In fact, when an investor is proactive with maintenance, they experience fewer costly problems that can damage returns. Stopping a little problem before it becomes a huge one helps lower costs while improving ROI.
The most productive way to accomplish this goal is to conduct regular inspections of your properties. Keeping track of the condition of each property and dealing with issues immediately will ensure they stay in top condition. Today the best property management Ogden, UT, offers has tips to keep inspections on track for a proactive approach to maintenance.
Determine the Needs
Stay organized by keeping a list of all the maintenance tasks that need attention throughout the year. Some of these might include the following:
- Inspect the plumbing and faucets for leaks
- Ensure that all the carbon monoxide and smoke alarms are working properly
- Examine the appliances to make sure they are in good working order
- Inspect the home's exterior, such as gutters, siding, roof, and deck
- Inspect for signs of pests
Keeping an eye out for potential problems like these (and others) can help you resolve small issues before they become costly repairs.
Communicate the Inspection Plan
Once you determine what items need to be inspected, create a schedule or itinerary and provide it to the tenant. That way, there is clear communication about what you plan to do and when you plan to do it. For example, you may decide to do quarterly or mid-lease inspections or base the timeline on the item you're inspecting in the rental unit. Whatever you decide, make sure you give renters plenty of notice before arriving at the property to conduct your review.
Property inspections should create a feeling of comfort for residents because they know you are looking out for the property and doing what is best for it. If you have professional property management services, they can communicate the schedule and plan effectively with the tenant.
Use Qualified Inspectors for the Job
Make sure you hire qualified inspectors to do the job. Even though you could do some of these things yourself, it pays to have a system in place that is on schedule and uses contractors to manage the inspections. That allows you to focus on other things and gives you a more professional image. If you use the best property management Ogden, UT offers, they can provide this service.
Schedule Regular Maintenance Tasks
Not only do you want to inspect your rental properties routinely, but it's also a good idea to schedule regular maintenance tasks. Conducting seasonal maintenance along with seasonal inspections helps you keep an eye on your properties while preparing the homes for the impact of changing weather.
These routine tasks may include replacing the furnace filters, cleaning the gutters, maintaining the HVAC system regularly, and cleaning the refrigerator coils.
In addition, routine inspections and maintenance help you keep an eye on how well your renters uphold their lease responsibilities. In most cases, tenants are responsible for keeping the home clean, taking out the trash regularly, maintaining the lawn and landscaping, and reporting maintenance issues right away. If you see these tasks left undone, remind your tenants about their responsibilities when visiting the property for an inspection.
Prepare the Tenant
No one likes to be taken off guard and surprised with unexpected visits. This is especially true when the visits are from maintenance contractors or inspectors. Unannounced visits to the property can violate tenant privacy laws and lead to disputes with your renter.
To avoid those issues, give tenants plenty of warning and offer the option to be present during inspections, routine maintenance, or home repairs. It's important to respect a renter's privacy, even though you own the property. In many cases, 24-hours notice is sufficient to alert residents that you or a contractor will be on property to take care of a maintenance task or inspection.
Avoid "Over" Inspecting
While routine inspections are consistent with best practices, it's crucial not to "over" inspect properties. When spending too much time at a rental property or visiting frequently, good tenants can feel like they're being watched too closely. Applying a thorough tenant screening process can help you select renters that give you peace of mind about who lives in the rental unit. Then, conduct inspections and maintenance throughout the year, but not in a way that is intrusive or too frequent.
Give renters their space and privacy to build good relationships!
The Best Ogden Property Management Company Helps With Inspections
Property owners never have to worry about the condition of their properties with the help of a property manager! Just search for "rental agencies near me" to connect with a property management company that can handle routine inspections and maintenance. Or, reach out to the Reeder Asset Management team! We help property owners with these tasks (and more) to optimize returns.
Learn more about boosting returns with our free checklist, "10 Things You Should Do To Increase the ROI for Your Rental Property."