Do you want to minimize property maintenance costs? That's wise thinking, as upkeep, renovations, and repairs can now cost property owners thousands of dollars.
Fortunately, there are several ways to do so, including regular rental property inspections.
But how exactly can inspections help minimize your overall maintenance expenses? And what are your options if you don't have time to conduct them?
This guide answers those questions, so read on.
Catch Problems Before They Worsen
Regular inspections help you identify defects or issues with your rental properties. These include all its crucial appliances, systems, and structures. Once found, you can take steps to address them before they worsen.
Leaking plumbing components are a perfect example. Such issues are so prevalent in U.S. homes they waste nearly a trillion gallons of water yearly. Failure to discover these early can lead to high water bills and costly water and mold damage.
Keep Tenants Healthy and Happy
As a landlord, you must provide tenants with safe and habitable living environments. This is one of your legal (and ethical) obligations under New Mexico laws.
But if you don't conduct inspections, your rental properties may cause your tenants to become ill.
For instance, suppose your property has suffered water damage, leading to a mold infestation. The latter can cause tenants to develop eye, skin, and respiratory conditions.
If your tenants become sick due to poor living conditions, they can file a complaint against you. You may still have time to correct the problem, but your tenants may no longer feel happy living on your property. This can make them less likely to renew their lease.
Confirm Tenants Comply With the Lease
Property inspections allow you to determine a tenant's breach of lease.
Suppose you charge a slightly higher rental fee for letting pets in your rental properties. But when your tenants first applied, they said they had no pets. However, during a scheduled maintenance and inspection, you found a dog, a cat, or both on the property.
That's proof your tenants have not been honest with you. You don't want this, as dishonesty can be grounds for costly evictions.
Maintain Property Value
Regular property maintenance and inspections keep your rental units in top shape. After all, they let you correct issues before they cause even worse damage and destruction. As a result, you can keep your properties' values high or even improve them.
But what if you can't fit weekly, monthly, quarterly, semi-annual, and yearly inspections into your hectic schedule?
Then, consider partnering with a full-service property management company. They can handle most tasks for you, from long-term maintenance and inspection to marketing and tenant placement!
That's How Vital Rental Property Inspections Are
Rental property inspections help protect your bottom line and reputation as a landlord. They also help safeguard you from legal liabilities. Most importantly, they ensure tenants live in a safe, habitable environment.
That's why you should never skip property inspections. So, if you don't have time to do them, consider delegating them to our team here at PMI 4U. Our many years of combined experience allow us to provide high-quality, full-service property management services.
So, reach out to us today! We'll happily discuss what we can do for your Albuquerque rental properties!