We inspect every property we manage at least once a month. Some people think that is excessive. We think it is the bare minimum.
This is what happens when you only check on a property when something goes wrong. A small roof leak goes unnoticed for six months. By the time the tenant mentions water stains on the ceiling, you have mold in the walls and structural damage. What would have been a $300 repair is now a $10,000 problem.
We have seen it happen more times than we can count, usually with properties that were managed by companies who do drive-by inspections twice a year if the owner is lucky.
Our inspections are not a quick walk-through either. We check the exterior, the interior, the HVAC, plumbing fixtures, smoke detectors, and anything else that could turn into a problem. We take notes, we take photos when needed, and if something needs attention, we handle it right away.
This approach does a few things. It keeps repair costs down because we catch things early. It keeps tenants happy because they see that someone actually cares about the property. And it protects the value of the investment long term.
For owners who live out of state, this is especially important. You cannot check on your property from across the country, but we can check on it every single month. That peace of mind is worth a lot.