Tampa has one of the hottest real estate markets in the country. That is fantastic for investors, but it also translates to increased competition. That means property owners must put their best foot forward while taking necessary steps to ensure the integrity of the property.
That is where property inspections come in. Many owners struggle with when and how often they should conduct them.
This article explains the importance of inspections and lays out some strategies for putting a routine in place. It will help you strike a balance that lets you protect your property without unnecessarily hassling tenants.
Why Are Property Inspections Important?
You might assume that the answer to this question is pretty straightforward: to detect damage. Inspections are necessary to ensure rental compliance, but it goes a little deeper than that.
First, if you have good tenants, then intentional damage is probably rare. It can happen, though, and scheduling regular check-ins can be enough to dissuade bad behavior.
Next, tenants may neglect issues that property owners would want to stay on top of. Signs of normal wear and tear, for instance, may be something you wish to address sooner rather than later. Regular property inspections allow you to make minor repairs and upgrades while avoiding major surprises down the road.
Finally, all this translates to better living or working conditions for tenants. This keeps them happy and more likely to renew their lease.
How Often to Inspect Properties
How often property owners should inspect properties depends on many different factors. In general, it should always be done at the end and the beginning of the tenancy.
When tenants are moving out, inspections allow landlords to identify damage before returning the security deposit. An inspection before move-in lets them confirm the condition of the property.
Beyond that, property owners need to decide what is an appropriate duration between inspections. In general, every three to six months is a useful rule of thumb. Seasonal inspections to ensure heating and cooling systems are working properly are also a good idea.
Factors that can impact this include whether it is a residential or commercial property. Businesses usually have more robust systems--like HVAC and plumbing--and a greater potential for issues. They also may have more foot traffic from customers or business activities, warranting more frequent inspections.
Remember, whatever the span you choose, it needs to be spelled out in the lease. Also, state laws can vary regarding the amount of notice landlords need to give tenants before inspections. In Florida, "reasonable notice" is at least 12 hours before the inspection takes place.
Get More Property Maintenance Tips
Now that you understand the importance of routine property inspections, you can put procedures in place that ensure the integrity of your assets without going overboard. Professionals can offer property management guides that can further advise you on the best practices for your unique property and real estate goals.
PMI South Tampa is a full-service property management company. We offer a range of commercial and residential services, including regular inspections, repairs, and maintenance. Reach out to us today to learn more.
