When investment property owners are starting out, often the first management task to be overlooked is routine rental property evaluations. By placing this on the back burner, you are doing a disservice to yourself and your tenants. One reason we have become the leading property management company in Middle Tennessee is that we conduct regular interior and exterior property evaluations, which usually reaps benefits in saving time and money.
When our expert property management team performs evaluations, we ensure your investment property is in great shape by evaluating and verifying the following items:
- Plumbing- check for any noticeable leaks, and ensure the water heater is working appropriately
- Appliances- verify furnace, air conditioner, and any other major appliances are in good working order
- Proactive Maintenance– attend to any repairs needed before they become worse and cost more
- Ensure Lease Compliance– Verify number of occupants, number and types of pets on the property, smoking (if not allowed)
- Detector batteries are fresh and filters are changed
- Any issues with lease compliance can be addressed in writing after the evaluation has been completed.
When Middle Tennessee property managers conduct routine rental property evaluations, it shows their tenants that management cares about the property, and the tenants are likely to follow suit. An evaluation schedule can be communicated to new tenants when the lease is signed. When advance notice is provided, many tenants will be happy to go through an evaluation as a way to keep their home in good working order.
The first evaluation takes place during move in. Our Murfreesboro-based property management company prefers to walk through the home with the new tenant, documenting any existing damage and taking pictures to put on file.
During regularly scheduled evaluations, our expert property managers verify lease compliance, check for any new damage to the property, and look for maintenance issues that need attention. This type of evaluation should be scheduled regularly and can take place at least semi-annually. Always notify the tenant before you enter the home.
Finally, when a tenant is ready to move out, a final walk through is performed. This is the property manager’s last opportunity to walk through the property with the tenant and note the condition it is being left in. Supporting photographs and notes are again taken and recorded in the homeowner and tenants’ online portal.
By approaching property management with regular evaluations as part of the lease agreement, investment property owners are protecting their investment from damage by being proactive and keeping their tenants happy. If conducting regular evaluations is not your forté, contact RPM Rental Solutions for help with this important aspect of property management in Middle Tennessee. Give us a call at 615-900-4067 or click here!