People always ask what separates Flat Fee Landlord from the competition. Well... heres one thing to consider.
So now that we have already found you tenants, received the rent and security deposit, whats next? Need help deciding on a property manager?
Inspections are going to be a major starting point of how to hold your tenants accountable (if they cause any damage). An inspection of the home should be done right before your tenants move in to ensure you have accurate documentation of the condition of the home before the tenants take possession.
Inspections also help with keeping up with preventative maintenance which can save you thousands over the course of owning a rental property.
Typically in the first 3 months of a new rental is when you will receive the highest volume of maintenance tickets from a new tenant. After this period we typically will only see 2 major time frames, when the weather starts getting warmer (A/C repair) and when the weather starts getting cooler (furnace). Our goal is to make sure we get these items out of the way to prevent costly repairs.
To conduct a similar inspection to what we provide for our homeowners, follow these simple steps:
1. Take pictures of the entire home to make sure you have an “original” photo to compare to once the tenants move out. Make sure you document any carpet stains, marks on walls and ceilings and appliances to show your tenant you are aware of pre-existing items.
2. Test all appliances and make sure you take pictures of all model and serial numbers so maintenance will be a breeze if the vendor you hire for service needs to bring a part for a repair, you minimize the amount of return trips to correct an issue as well.
3. Check for any signs of moisture in the home. Usually spots will occur in corners of walls near the foundation or along the roof line. While these repairs may not be part of your anticipated budget, getting them fixed now can greatly reduce costly repairs if mold begins to grow which will only get more expensive and prevent tenants from being able to move in.
4. If you have not had a professional service done on your major appliances, schedule one ASAP. This will be a low cost tune-up to make sure you prevent any costly repairs when your tenant is in the home. Additionally, if you discover any major repairs needed, you can get these taken care of within a more manageable time frame instead of rushing repairs while a tenant is occupying the home. This will almost always result in the issue being taken care of properly the first time.
These are 4 simple steps to protecting your investment and reducing the headache of renting your home. To find out more on how Flat Fee Landlord can help make renting your home easy and stress free check out www.flatfeelandlorddallas.com or give us a call at 469-703-8139
