What to Inspect When You’re Inspecting: The Importance of Conducting Regular Inspections
Inspections should not be dreaded by Chicago investment property owners, and instead should be looked upon as a time to make improvements on your property. It can be a way to make more money, make your properties safer, and even spread out costs. For do-it-yourself landlords, it can be hard to know exactly what you are looking for when conducting inspections, so we have put together some tips from the Chicago property management pros.
Inspection Musts from Our Chicago Real Property Management Chicago Edge Company
Placing property inspections or reviews on the back burner is doing a disservice to yourself, your tenants, and your property. It’s not safe, and in many cases, it isn’t legal. One of the reasons we have become a leader in the Chicago property management industry is because we take the time to carefully check the property during routine inspections for issues that can easily escalate.
Not sure what to look for? Cover your basics:
- Plumbing issues: check for noticeable leaks or cracked pipes; replace faucet washers as needed.
- Appliances: verify the water heater, furnace, air conditioner, and any other major appliances supplied by you are in working order
- Maintenance and Repairs: be proactive about small things now before they turn into big things later
- Ensure lease compliance: Don’t allow pets? Limited to a certain number of occupants? Smoking banned inside the home? Verify that the rules laid out in the original lease are being followed by the tenants.
During the property review, take note of any new damage done to the property, and document it with pictures. Any issues that are discovered need to be addressed in writing when the review is complete. From there, you can work on ways to solve the issue – whether that means you are going to require cooperation from your tenant or you need to hire a professional to fix something.
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