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Tuesday, July 8, 2008

Landlords: Good Time to Schedule Inspections

I know, I know... everyone is tired from the 4th of July weekend of having fun - but when it comes to real estate you have to give up on some of that and get some work done.

Summer (especially July and August) is a good time to schedule inspections in your rentals. Just let your tenants know beforehand. Give them plenty of notice, so they don't feel invaded. Remember the idea is not to tell them how to live, just to ensure that the house you have rented to them is still in pretty decent shape and there has not been any extensive damage, minus normal wear and tear.

Why do I say July is a good month?
1. If you do see damage beyond control, you can give them a 30 day notice (provided they are on month to month) and start showing the home to other prospective tenants.
2. If you need work done, summer is a good season to get it done.
3. Most damage seems to done in the summer with sprinklers and on the exterior of the property.
4. Summer is also a great time to get new tenants. Once you hit the holidays, most people want to stay put. July gives you a good time to assess your tenants and see if they are going to be there for the long term.

So schedule your property inspections! You'll be glad you did.

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