The Rental Cycle of Life: Step 1 – Inspections

Last week I posted a lengthy article covering what we call our “Rental Cycle of Life.”  I want to take some time this week and go a little more in depth about the 1st item on the cycle:  Inspections.  Far West Property Management’s idea of managing a property revolves around always knowing what is going on with the Prescott area rental property.

Good tenants are certainly a help in this process, because if anything is leaking, broken or in any way malfunctioning on the property or in any of its systems, they will typically report it to us right away, so that we can track down and correct the problem.  But sometimes, things can be going wrong behind the scenes that simply are not apparent to the inexperienced eye.

Regular walk-throughs of a property by an experienced property manager who is familiar with a particular property, can often reveal things that the tenant is not aware of.  And, even if the property is being immaculately cared for by the tenant, and even if all systems are in first rate condition, with no breakdowns, glitches or other types of malfunctions, the regular presence of a good property manager in the property yields a lot of good.

Inspections are the first step to rental properties in Prescott AZFor one thing, our regular interest in the condition of the property shows tenants that maintaining the quality of their living space is important to us, and they, in turn, feel more confidence in the landlord’s commitment to the condition of the property, and so, they feel a greater sense of commitment to it themselves.  The result is that they are happier, take better care of the property, and they tend to stay longer.

This is, of course, a very good thing for our clients, the property owners.  Abuse is avoided.  Deterioration of the property, the dwelling and all the appurtenant systems is kept at bay, because of more timely detection and correction.  Vacancy rates are kept very low, and cash flow is more consistent with fewer interruption.

Because we think these regular walk-throughs are essential, we include a clause in all our contracts providing for them, and the tenants all agree to it, having always had advance explanations and understanding that this will be part of life in one of Far West Property Management’s rentals. So, there are no surprises. Then, about three to four times a year, we set appointments well in advance with tenants and go conduct the walk-throughs at the appointed times.  Tenants like the idea of being able to speak face to face with one of our managers.   They come to know that we are interested in them and their concerns, and are always glad to help.

The result is happy tenants, well-maintained, more profitable rental investments, and very satisfied clients.  If you’d like to know more about how Far West Property Management can help you care for your hard-earned real estate investment, contact me, Dave Hamill today, at 928-772-9400.

For more on how we can help you manage your rental properties, contact us today!