Protecting your investment properties in the best possible ways requires multiple strategies for success. From strong leases that leave no room for misinterpretation to setting up the right business entity and landlord insurance coverage, your properties (and income) need the right tools in place to minimize risk and support your long-term financial future.
How can Seattle real estate investors protect rental homes on a more practical level? Insurance helps you recover after something goes wrong, but how can you discover (and prevent) problems before they require an insurance claim? Protecting your properties requires a hands-on—and "eyes-on"—approach to reviewing your rentals with inspections!
What should rental property owners know about an effective inspection strategy? Follow these expert tips from the best property management in Seattle!
Once Is Not Enough
While fixing maintenance issues promptly (and with quality repairs) is critical for success, preventing significant problems helps keep rentals in excellent condition and minimizes maintenance costs. However, if you never lay eyes on your rentals after Move-In Day, you won't have the opportunity to prevent problems before they become costly repairs.
Conducting the move-In inspection when a renter moves in, then hoping all goes well until they move out, isn't enough to keep your rentals in excellent condition. Rental property owners must develop a schedule of inspections to check on properties (and resident upkeep) during the lease term.
Twice a Year Is a Good Rule of Thumb
Real estate investors with properties in Seattle should plan to inspect properties twice a year—even if a resident renews their lease! A mid-lease inspection helps you spot:
- Potential problems that a renter hasn't reported (or hasn't noticed yet)
- Property neglect from renters ignoring their upkeep responsibilities
- Upgrade opportunities that could encourage renters to renew
Routine property inspections help investors manage maintenance expenses and plan for future renovations. However, if you're not local, it's challenging to be onsite at least twice a year to conduct these inspections. Real estate investors can partner with the best property management in Seattle to handle all inspections and repairs! We keep an eye on your rentals, so you don't have to devote time to this critical aspect of real estate investment success.
Keep An Eye Out
Aside from scheduled inspections, investors should keep an eye out for potential problems any time they visit a rental property. Something can go wrong between inspections! A watchful eye helps catch problems before they turn into expensive or disastrous maintenance issues.
An experienced property manager knows what to look for when visiting your Seattle rentals. Whether we've scheduled a "true" inspection or we're stopping by the property in response to a resident request, we can pick up on a potential problem and take quick action to prevent more damage.
Real estate investments are a long-term commitment with big potential for significant future wealth. When you partner with the right property management in Seattle, you have a long-term relationship with experts who get to know your rentals. While many common problems can happen with any rental property, having a team that is familiar with your specific rentals and the TLC that they need can help you minimize costs and keep properties in excellent condition year-round.
Skipping Inspections Can Be Expensive
Delivering the best quality rental homes in Seattle is a lot of work! Year-round preventive maintenance, prompt repairs, and quick responses to renter emergencies can become overwhelming without the right help. Add twice-yearly inspections to those tasks, and investors can quickly run out of time to keep multiple rental properties in tip-top shape to stay competitive in the market.
However, skipping inspections can lead to expensive problems that could have been prevented—if only you'd caught them early enough. Taking the time to schedule and conduct thorough property inspections is well worth the effort, but investors don't have to do it on their own!
Partnering with the right property management in Seattle is the best solution, offering property owners both vigilance and prevention. It's part of our standard process to be on your property throughout the year to keep an eye on rentals and renters.
The best property manager:
- Includes details about inspections in the lease
- Proactively schedules inspections and connects with renters
- Follows up and enforces the rules when renters don't uphold their property care responsibilities
- Acts quickly when spotting a minor problem that could become a significant maintenance issue
Your Seattle rental properties are your biggest assets! When they stay in excellent condition, rental properties make more money for investors.
A Seattle Property Manager Keeps an Eye On Your Rentals
Helping your rental properties exceed expectations is what we do best! Real Property Associates conducts Move-In, Move-Out, and Mid-Cycle inspections for every rental property. Our watchful eyes help investors reduce repair costs and protect properties. With the best property management in Seattle, your properties stay competitive, attract quality renters, and maximize ROIs.
Learn more about protecting your properties! Get your free copy of Protecting Your Investment Property: A Guide.