Here's something worth considering: there's a 1% rule for home maintenance, and it applies to landlords. For every dollar a property costs to purchase, set aside 1% for maintenance -- although some specialists suggest saving 2% (Wells Fargo).
As a Neenah, WI landlord, the bulk of repairs are your responsibility. To avoid these costly expenses, it's a good idea to routinely inspect your property. The question becomes how often to conduct these rental property inspections, as discussed in this helpful article.
Landlord Inspection Guidelines
Before you conduct any Neenah, WI rental inspections, familiarize yourself with what to look for. For instance, check for broken windows, damaged window panes, and broken doors.
You should also look for:
- Any holes in the wall or visible damage from tenants
- Old, outdated light fixtures in need of replacement
- Signs of a rodent infestation, or other pest-related issue
Landlords should also check a property's exterior, ensuring the roof and gutters are in good working order and free from damage or debris. Check the property's foundation for cracks or other signs of damage. While looking for external damage, check the water line or septic system to make sure everything works properly.
If you have a trusted property management company, ask them for assistance with these inspections.
Should you encounter maintenance issues, ask your property manager to assist with these repairs using funds in a reserve account. If there's damage caused by your tenants, review their lease to determine what they're responsible for.
How Often Should You Conduct Rental Property Inspections?
Once you determine your landlord inspection guidelines and what to look for, it's time to inspect your property. As a rule of thumb, check your rental between two and three times per leasing agreement. However, if your property is older, has had multiple repairs, or has numerous units/tenants, you may want to check it more frequently.
Each state has set laws on when you can inspect a tenant's rental. These guidelines usually state that a certain amount of notice must be given to tenants, usually 24 hours, and it may need to be in writing. On average, any type of repair usually warrants written notice from landlords to their tenants, as this helps enhance landlord-tenant relationships.
Should a landlord suspect their property has been abandoned, they can typically enter the premises without providing 24-hour notice, especially if they think there may be damage that needs to be addressed.
Different Types of Inspections
There are multiple inspections landlords can conduct. These include:
- An inspection before your tenants move in or out
- Routine inspections conducted throughout the lease
- Safety inspections, ensuring all safety monitoring devices are in proper working order, including smoke/fire/carbon monoxide alarms/sprinkler systems
When discussing the lease agreement with prospective tenants, explain to them that these inspections are for their own safety, ensuring their dwelling is in proper working order.
Rental Property Inspections in Neenah, WI
Property maintenance frequency might seem like a gray area, but it's up to the landlord to ensure that their units are compliant with local laws while conducting tenant safety checks.
If you're looking for rental property inspections in Neenah, WI, and need assistance, PMI Fox Valley can help. Not only do our property managers offer tenant screening and rent collection, but we help with maintenance inspections. Request a Free Rental Analysis today.
