All experienced property investors know that they must keep their property in tip-top condition if they are to attract high-paying tenants, and/or achieve maximum profits upon liquidating their investment. Thorough and regular property inspections should be undertaken to ensure that this is the case. Inspections should be performed personally or via a trusted third party to make certain that the property looks clean, is well maintained and is safe for all occupants to use. Preventative maintenance is essential in this respect as it helps to catch small defects before they escalate into expensive problems.
When carrying out a preventative maintenance inspection, the inspector should take into account everything from the gardens and exterior structure of the property, to making sure that all appliances work safely and that light bulbs are replaced every few months.
If unsatisfactory areas are found, the inspector should be empowered to take action to remedy the situation, no matter how innocuous the problem may seem. A loose roof tile, for instance, may seem too insignificant to take action over. However, should a freak storm blow in during the winter, that tile could be blown off the roof, allowing rainwater to seep through and damage the ceiling and walls. Replacing the tile will cost very little…replacing and redecorating damaged ceilings and wall coverings is likely to be a lot more expensive!
Here is a checklist of other areas to take into account during an inspection:
Garden - Check perimeter fencing or walls for damage. See if trees need to be trimmed and make sure the garden is in a generally good condition
Exterior Walls - Check for cracks, paint damage and damage caused by climbing plants or nearby trees
Roof - Check for loose or missing tiles
Windows - Check for chips or cracks, rotten frames and water leaks
Interior appliances - Check that all appliances are working safely
Smoke Detectors - Check that they are working properly
Fire extinguishers - Check that they are working properly
Interior Walls - Check for signs of water damage
Furnishings - Check for wear & tear