Becoming a property owner can simultaneously be one of the most glorious and challenging experiences of your life. It is particularly so if you decide to become a landlord.
A landlord has to do a lot to ensure that the property is always in good condition. Better yet, that it is full of tenants who pay their rent on time. A landlord should regularly generate reports about the state of their property. One of the most important reports a landlord will produce is after conducting a mid-lease inspection.
A mid-lease inspection is an evaluation of a tenant’s property that happens about every six months, which is the typical halfway point of a lease. Some landlords will have the inspection every three months. There are some landlords who don’t conduct these inspections, which can put them in a lot of danger. The following are a few reasons to carry out mid-lease inspections in your houses for rent in Georgia.
Save Yourself Some Time
Time is a precious commodity, especially for a landlord who might own several properties. Considering one rental property might have hundreds of units, it would be almost impossible to evaluate them in a single period. Moreover, creating an individual report for each unit makes it even more cumbersome.
If you have a property manager taking care of your houses for rent in Georgia, you can have them carry out mid-lease inspections which can save you a lot of time. The right Atlanta property management company will do the leg work for you, and, since they will have many employees, they can do the inspections in significantly less time than you would. You can then review the reports generated to find out if there are issues with any single unit.
Less Risk of Property Damage
In an ideal world, tenants would take care of their units as if they owned them. However, we don’t live in an ideal world and tenants are the main cause of property damage which is a serious issue for a landlord. A mid-lease or mid-term property inspection is a fantastic way to regularly check the property for any sort of damage. You can look for signs and potential issues that the tenants might have caused to the property.
You can then take steps to remedy the issue and hold the tenant accountable before it is too late. For example, a simple water leak can end up being a serious issue if left unattended. The issues discovered will be in the report generated by the property manager. In some cases, you might have to evict a tenant to prevent further damage.
Uphold Tenancy Agreement
Every tenant should sign a tenancy agreement before residing in your property. if they want to continue living there, then they should uphold the agreement. However, from time to time, tenants will fail to do so.
Therefore, mid-term property inspections for your houses for rent in Georgia are a good idea to ensure that renters are upholding their tenancy agreements. You should ensure that you inspect all elements of the household to ascertain that each and every policy in the agreement is being upheld. Issues to check for will include subletting, illegal housing of pets, smoking, and illegal housing modifications. If there are any tenancy agreement violations, then you should take swift and conclusive action to ensure that they are upheld.
Landlords are able to check-in on their properties as often as they'd like, as long as their visits are within reason and the circumstances of them are outlined in the original lease agreement.
Improve Tenant Relationships
The relationship dynamic between tenants and their landlords is usually very intriguing. In most cases, it is a strained relationship where communication only happens when necessary. One way to improve tenant-landlord relationships is to carry out mid-lease inspections. It will help open up the lines of communication between tenant and landlord.
Not only can the landlord evaluate the property but the tenants can also voice their grievances to the landlord in a way they otherwise could not. It is very important for tenants to know that their landlord is listening to their complaints. Therefore, a mid-lease inspection could showcase the landlord and tenants in a new light to each other which should improve their relationship.
As a landlord, the security of your rental property should be paramount. It is particularly so if you have empty properties in your portfolio. An empty property unit faces more issues than an occupied one. Harsh weather conditions and security issues, in particular, are often more dangerous to vacant property units.
A mid-lease property inspection by an Atlanta property management company will evaluate how prone the property is to damage by natural conditions or intrusion by perpetrators. Furthermore, the damage caused in either case can take a long time before it is discovered since no one is living there.
Therefore, a mid-lease property inspection could improve the security of your houses for rent in Georgia. You can then make it more secure against both natural and human security threats. There are many reasons that a landlord should conduct mid-lease inspections. Whether it is every six or three months depending on the lease agreements, regular inspections are vital.