Make the time to take care of your properties.
Yeah, I know it is a pain to have to do this. If you lack the time, consider subbing these jobs out to others. But consider, doing at least the inside tasks. These assets are SOOOO valuable to your future. No one you hire can offer you the insight of seeing the state of the units as well as you can with your own two eyes.
- Is the place tidy, and in good condition? If so, it makes you feel better about your choice of tenants.
- Is there a giant water dish for a dog you don’t know about?
- How about an ashtray of butts and a smell of cigarettes or marijuana in the air?
- Are you looking at a hoarder situation happening?
- Is there signs that people have moved out or moved into the unit that you don’t know about? If there is something you find, it is better to deal with it now, then wait a year or two when the tenant eventually vacates the unit.
In reality, if you have quality units in quality neighbourhoods and select quality tenants, then most often, you will be pleased with what you find.
But with that said, I would estimate that at least one in three smoke detectors have their battery removed because they “just” burnt some toast or something and removed it, but forgot to put it back in there.
Smoke detectors are important to keep your property and tenants safe.
By re-inserting the battery in, taking a photo of the smoke detector, and insisting that the tenant signs off on it done, it reinforces the importance of having a working smoke detector (and CO detector) in the unit. Although highly unlikely, a fire COULD happen in your property from no fault of your own. You want to do all that you can to ensure that the tenants stand the best chance they can to get themselves and everyone else out safely. Insurance can repair and replace your building, but safety has to be your number one priority.
Doing these simple but important property check-ups in the Fall, will help your properties
over the period of time that you have them.