Why thorough routine inspections are vital for your investment property
As an investor, finding respectful tenants is just the first step in ensuring your property is well cared for. It is equally important that your property manager conducts thorough and consistent routine inspections to protect the value of your property.
A thorough routine inspection is more than just a quick chat with the tenant. It should involve a comprehensive walk through the property to safeguard it from issues that could become detrimental to the property’s condition. Identifying any maintenance or health and safety risks early on, will stop them from developing into something more serious into the future.
Attention to detail is imperative when inspecting a property. Your property manager should examine the home every 3 months and be on the lookout for:
- Mould or ventilation issues
- Dripping or leaking taps
- Cracks in the ceiling or walls
- Calcium build up on glass in bathrooms
- Broken fixtures or fittings
- Rips or burns in carpet, cracked tiles, scratched floorboards
- A clean stovetop and oven
- Blinds are in good working order and cords compliant for safety reasons
- Railings are secure
Regular periodic inspections serve to keep the property in the best condition, which will also help maintain its position in the rental market. If maintenance issues have not been addressed, when your tenants vacate the property at the end of the lease, the lack of attention could jeopardise your rental income. A poorly maintained home can incur longer vacancy periods or attract a tenant at a rate which is less than desirable.
In recent months, we have taken over two managements where the previous agency neglected to address or even identify serious issues. As a boutique agency with a manageable rent roll, our property management team take a proactive approach to protecting the value of our clients’ assets.
Our tenants are encouraged to notify us of maintenance issues no matter how large or small in a timely manner. It may simply be that an issue is monitored and not requiring immediate rectification, but being aware enables us to minimise the expense incurred to our landlords.
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