One of the things we do as a property management company to protect your investment is ensure regular inspections are being conducted. You should always look for that same service in the company you choose to work with. This doesn’t mean an inspection once or twice a year. To protect your property, at least three inspections should take place during the tenancy. When a tenant moves in, there is often an extensive inspection that includes a lot of photos or even video that documents the condition of the property. Another inspection must be conducted when the tenant moves out. This is an opportunity to compare the condition of the property at move out with the way it looked at move in. That’s how you’ll determine if any money should be withheld from the security deposit.
At least one other inspection should happen in the middle of the year. At that point, you’ll want to take a look at the physical condition of the property. Check for any leaks or other minor damage that either the tenant hasn’t noticed or hasn’t told you about. Look for any problems in the property’s condition. It’s also a good time to take note of how the tenant is living. We look at whether there are people or pets that should not be there. We make sure the tenant is abiding by the lease. It’s important to do these inspections. We have found that a lot of property owners neglect to go to the property during the lease term. They usually regret it in the end because once the tenant moves out, the property is often not in the condition they expected. Make sure your property manager inspects regularly. Ask your property manager for regular reports on those inspections.
Another way a good property manager will protect your investment is by communicating well with your tenant. If a tenant calls with a maintenance request, the manager has to respond right away. This doesn’t mean the repair has to happen immediately, because sometimes it’s an issue the tenant is responsible for. However, it’s important to listen to the tenant and keep the tenant happy. Happy tenants pay rent on time and keep the property in good shape. They also tend to stay in the property longer.
Lastly, a property manager can connect owners with good vendors and reliable professionals. The vendors we use really take care of our clients. They give us good prices, they show up on time and they really help us keep the property in good shape. We also like to protect our owners from liability concerns. A lot of risk comes with owning investment property, and we’re there to connect our clients with attorneys, insurance professionals and other experts when necessary.
These are some of the ways a good property manager will protect your investment. If you have any questions, please contact us at Richey Property Management.
