If we didn't trust our tenants, we probably wouldn't rent to them, but when it comes to your properties and the protection of their value, here are 3 reasons as to why it is a good idea to conduct regular inspections of your rental properties. First, to confirm that no illegal activity is taking place. Second, check and see if any repairs or maintenance need to be taken care of and third, doing this can preserve the value of your property to insure that all things are in good shape.
The most well known issue in illegal activity in rent properties is the consumption of illegal drugs. As a landlord, you may be under a contractual duty to report the use of illegal drugs. If you discover legal activity taking place in your rental properties and do not report it, you could be facing fines, criminal penalties, legal justice, and rental property value can drop. For this reason, it is important to do regular inspections and finding the right tenants for your rental properties.
Another large factor to keep on your checklist of inspections of your rental properties are repairs and maintenance. If your property is not properly taken care of, it could cause harm to a tenant or a tenant's guest and lessen the property value. There are several things that you should check to make sure that your rental property is staying in ideal condition. When it comes to repairs, here are a few of the most common for rental properties: repainting, gutters, leaks, plastering, broken windows and minor roof repairs. The similar things are present when it comes to maintenance: weather proofing, heat, water, electricity, clean premises, etc.
By follow simple procedures and conducting a regular inspection of your rental properties can help maintain the value of your property and keep the tenants safe. Contact PMI today!
Contact our Property Management Inc. office, to find out more about the subject of regular inspections of your rental properties.