Are Monthly Inspections Good for Business?
As to the answer to the question above, monthly inspection are neither entirely good nor entirely bad. Depending on how you want to run your business and what your ideals are, the other one could work better for you over the other.
You have to make sure though that before you admit a tenant to your place, you have clearly stated to him or her-- this monthly inspections you’re going to do every month. While you might have a lot of time to do this –being a full time Tampa Property Manager or land owner—the lessee could be doing something else that’s keeping him or her really busy, and that your presence could be a hindrance to the natural flow of their business. Modern life also means “mind your own business” and “give me some space”.
Having clearly explained to the tenant the mechanics of monthly inspections, and him or her agreeing to this monthly routine, I’m going to explain the pros and cons of the checkup. Let’s start first with the bright side. First, you’ll be able to know what the tenants are doing. Next, you’ll easily spot violations that are being done to the place and you can easily warn them about it to prevent further damage whatsoever. These are good things considering that it’s also your duty to keep the properties in good condition and running. You will prevent shedding off extra bucks for repair especially when you know how the damage was taken, and can determine whether it’s caused, or wear and tear. The tenants will also take precaution as to how they deal with the property knowing that there will inspections every month.
As to the cons of monthly inspection, the benefits that you are offering to your tenants will be cut short because you will have to incur some amount to sustain your monthly visits. Also, tenants need privacy and they don’t want you to be sticking your nose into their business because –well, it’s their business. Majority of the tenants want privacy and you, inspecting the property every month. will be a nuisance. In addition, tenants don’t have all the time in the world. Ripping off a fraction of their time for inspection will cause them to not want to rent from you. There are a lot of other properties out there that’s scratching out that sort of hassle and they’d rather rent from them.
Should you decide to do monthly inspections, you must arm yourself with the heart to execute your policies. When you inspect, you’re not merely strolling around to know what the tenants are up to, and sit down with them over a cup of tea and talk about it. If you spot them doing something fishy and violating some of the rules, you have to tell them there and there that they have to adhere to your rules or pack. That’s a lot of guts you need there. Furthermore, eviction is expensive. Not only are you going to have to spend more on the process, you’re also going to suffer from vacancy. Sometimes, it’s nice to not stick too much to other people’s whereabouts and just let them be.