A typical single-family home in the U.S. now costs $18,118 to own and maintain yearly. That's almost $3,700 more than home ownership and maintenance costs in 2020!
If you don't conduct rental property inspections as often as you should, you could spend more than that on maintaining your Milwaukee rental. The higher your maintenance and repair costs, the lower your rental income could be.
What, then, is the ideal rental property inspection frequency? This guide shares practical Milwaukee landlord tips on rental property maintenance and checks, so read on.
Monthly Drive-by Inspections
A drive-by inspection is a quick visual check of your Milwaukee rental property from the road. It allows you to spot problems with curb appeal, like dirty external walls, dusty windows, overgrown grass, or peeling paint. If you notice any of these issues, address them immediately to prevent turning off prospective tenants.
If you already have renters, that's all the more reason to maintain your property's curb appeal. It's one of the best tenant satisfaction strategies, as a well-kept exterior gives your renters more reason to love living in your property. The more they enjoy their time on your property, the more likely they'll keep renewing their tenant lease.
Before Listing
Effective property listings include factual but engaging descriptions of your property's best features. For example, you can highlight your rental's balcony or patio and say it affords incredible scenic views of Milwaukee. You can also list the energy-efficient appliances you've furnished it with and discuss how relaxing the outdoor space is.
However, if those features aren't in top condition, they'll more likely deter prospective tenants than attract them. For example, a balcony with rusty balustrades, a patio with sagging floors, or a lawn filled with weeds can be unappealing. Faulty appliances can also cause injuries and electrical fires.
So, before listing your property, conduct a comprehensive inspection first. That way, you can identify and address problems before prospective tenants spot them and get turned off.
Quarterly or Semi-Annually
Coordinate quarterly or semi-annual (once in the spring, another in the fall) inspections with your tenants. They should agree if you ask for their permission and tell them how these checks can help keep the rental safe and habitable.
During these inspections, carefully assess the following:
- Roofing, plumbing, electrical, and HVAC systems
- Doors and windows
- Humidity, mold, and pests
- Condition of the appliances
- Smoke detectors, gas leak sensors, and fire extinguishers
You should also inspect your property for signs of damage beyond normal wear and tear. If you find any, consider it a sign of a breach of the rental lease.
Simplify Rental Property Inspections
Ideally, you should conduct rental property inspections monthly (for drive-by checks), before listing, and quarterly or twice yearly. That can help maintain the quality and value of your Milwaukee rental. Moreover, it can help ensure your property remains safe and habitable for your tenants.
If you don't have time to do all that, our team at Performance Asset Management certainly can. We have over 15 years of experience providing full-service property management to Milwaukee landlords like you. We can oversee not just property inspections but also maintenance and repairs.
So, give us a call today! We'll happily answer all your property management questions.
