Regular inspections are often considered an unnecessary expense, but there are many reasons why they are important. Obtaining a regular inspection for your rental property is necessary to protect yourself, your tenants, and your property. It is important to obtain inspections before move-in and after move-out to obtain effective documentation and assess the condition of the property, but it is also important to obtain them regularly. Here are 5 reasons why it is incredibly vital to obtain regular inspections for all of your rental properties.
1. Ensure Lease Terms are Being Complied With
An inspection will help to ensure that your tenants are taking proper care of your property. It will also ensure that you are holding up your end of the bargain, as it will inform you of any issues you may have forgotten about.
2. Identify Necessary Maintenance and Repairs
Obtaining regular inspections will ensure that you are notified regarding any necessary repairs or maintenance. Catching these issues in the early stages will prevent them from escalating. Advanced repair processes will be far more expensive than fixing them as soon as they occur.
3. Obtain Proper Documentation
Regular inspections mean regular documentation of the condition of the property. This can help you to justify keeping the security deposit, among many other things. It can also be vital when you have to make an insurance claim.
4. Preserve Value of Property
One of the things that make real estate such a valuable investment is the overall value of the property. By ensuring that your property remains in good condition, you will help to preserve its value.
5. Increase Tenant Retention
Fixing issues in the building will keep your tenants much happier, which will increase their chances of renewing their lease. These repairs are most effective when made immediately and regular inspections can help to notify you about these issues.
Though the move-in and move-out inspections are incredibly important, regular inspections can be similarly beneficial. To learn more about the benefits of regular inspections, contact us at the Keyrenter in Houston today!