November 1, 2011
Inspecting your rental property regularly can result in numerous profitable advantages.
Why are they necessary?
• To see what maintenance needs to be done
• To promote safety: heaters, exits, patios, etc.
• To improve sanitation
• To improve housekeeping skills
• To answer the tenant’s questions
Tips for a more successful inspection
• Give adequate notice. Most states require 24 or 48 hours. Think about giving a week’s notice.
• Ask the tenant beforehand if there is anything that needs to be fixed, with a form listing each room in the unit.
• Ask if the tenant prefers to be there during the inspection. Respect the tenant’s decision.
• Take another person with you.
• Take a camera or camcorder with you.
• Schedule time for maintenance.
• Schedule time for follow-up inspections, if necessary.
• Inspections should be done about every four months
About the Author: Bob Cain
Some 30 years ago Bob Cain went to a no-money-down seminar and got the notion that owning rental property would be just the best idea there is for making money. He bought some. Trouble was, what he learned at the seminar didn’t tell him how to make money on his rental property. He went looking for help in the form of a magazine or newsletter about the business. He couldn't find any.
Always ready to jump at a great idea, he decided he could put his speaking and writing skills to work and perform a valuable service for other investors who needed more information about property management. So Bob ferreted out the secrets, tricks and techniques of property management wherever he found them; then he passed them along to other landlords.
For over 25 years now, Bob has been publishing information, giving speeches, putting on seminars and workshops, and consulting for landlords on how to buy, rent and manage property more effectively.