Throughout my time in the real estate industry, I have come across many investors with all sorts of preferences and approaches. However, one, in particular, I hear a lot is with regards to routine inspections. It scares me to think that some landlords out there don’t worry about routine inspections or prefer that they aren’t done and I wanted to delve into this a little further.
A lot of the time a landlord may not want the tenant to feel that they don’t trust them or feel uncomfortable approaching the tenant to arrange an inspection or maybe as a self-managing landlord you simply don’t have the time. Put simply, these inspections are not about trust, if you didn’t trust the tenant’s character they wouldn’t be living in your investment property. The routine inspection is good for everyone involved, tenant included.
Let me explain. One of the biggest complaints tenants have is lack of communication or maintenance not being carried out on their rental property. A routine inspection makes this problem disappear. When you as the landlord or your Property Manager can attend the property and sight the issue at hand it not only gives you a better understanding of the problem it also helps you deal with it a lot faster. The inspections also give you an opportunity as a landlord to build rapport with your tenant and vice versa which is hugely important if anything unexpected happens and the tenancy faces a challenge.
Of course, for you as the landlord, the routine inspection gives you the peace of mind that your investment is being looked after and maintained responsibly by your tenant, but there really is a lot more to them than that.
I speak with landlords every day, some are my own clients, others are self-managing landlords and others are new to investing altogether. I have seen a pattern between a lack of routine inspections and tenancy issues and a lot of the time, unfortunately, the issues are not an easy fix. I always think to myself if there had been inspections at this property this could have been nipped in the bud but unfortunately, we can’t go back and change time.
I guess, what I am trying to highlight here is as a landlord try not to get complacent or if you are time poor do your very best to make time to carry out your routine inspections, if you really can’t make the time then maybe look at outsourcing this but trust me when I say you will thank yourself in the long run. Prevention is always better than cure.