Are you feeling good about your schedule of routine inspections?
We hope so, because these inspections are one of the best ways to protect your investment property. Understanding the importance of these inspections isn’t just good practice—it’s essential for the longevity and profitability of your rental property. When you inspect regularly, you reduce the number of maintenance emergencies during the year that you must respond to. Tenant satisfaction is also higher, leading to better retention and less vacancy and turnover. And lastly, keeping track of maintenance needs at the property creates more value and asset appreciation over time.
Why Are Routine Inspections Crucial?
The short answer is simple—protection. By keeping a close eye on your property, you’ll catch small problems before they escalate into expensive nightmares. Let’s take a look at some data that proves what we’ve known all along: regular inspections can prevent costly repairs, ensure tenant satisfaction, and improve the overall return on your investment (ROI).
Here’s why landlords and property managers should make inspections a top priority, especially in a market as competitive and expensive as the D.C. metro area:
- Preventive Maintenance helps to reduce repair costs
- Tenant Retention because they see you maintaining a safe and comfortable rental
- Compliance with Regulations will severely reduce liability and can avoid fines or lawsuits
- Preserving Asset Value will help create long-term growth in the value of your property
Data-Driven Proof That Routine Inspections are Critical
We’ve been managing rental properties for many years, so we understand on a professional and a personal level the value of good inspections. Investors who dive into the data and the details will see why we take these inspections seriously.
- Fewer Emergency Repairs
The cost of emergency repairs can quickly erode your rental income. According to a recent study by the National Association of Residential Property Managers (NARPM), landlords who conducted routine inspections spent 40% less on emergency repairs compared to those who didn’t. Don’t wait for the hot summer or the cold winter to arrive before you check out your HVAC system. Routine inspections will reduce the number of urgent tenant calls due to equipment breakdowns.
- Higher Tenant Satisfaction
Inspections don’t just reveal damages—they create trust with your tenants. Surveys by Appfolio show that 82% of satisfied tenants were more likely to praise their landlords or property managers for timely maintenance request action. 77% of satisfied tenants appreciate the communication around how the repairs are progressing. Tenants will renew their lease if they feel their property is well-maintained. Consistent inspections communicate that you’re serious about providing a safe and comfortable home, reducing vacancy rates and saving the property owner big money by avoiding charges to find new tenants, not to mention other turnover costs.
Protecting Your Investment with Inspections
Not all inspections are the same. Staggering different types of inspections throughout the lease term ensures comprehensive oversight. The age and condition of your property will dictate how often you need to inspect. Your tenant relationship will also tell you whether it is important to physically visit a rental more frequently or just once a year during the lease term.
Here are the inspection types we always encourage:
- Move-In/Move-Out Inspections
These inspections allow you to document the property’s condition at the start and end of a lease using a detailed checklist and photos. This sets clear expectations and minimizes disputes over security deposits.
- Routine Inspections
Conduct regular checks (e.g., every six months) to review the overall condition of your property and ensure tenants are complying with the lease. Provide plenty of notice and make sure you include the necessity of these inspections in your lease agreement. And be sure to document through photos and written communications any damages, wear and tear above normal or other issues that need to be corrected.
- Drive-By Inspections
Sometimes, a quick external review can tell you a lot about your property’s condition—things like landscaping, visible damage, or unauthorized vehicles. If you happen to be in the neighborhood, why not drive by the property just to be sure everything looks the way it should?
- Emergency Inspections
If there’s a reported issue, such as plumbing leaks or electrical problems, an emergency inspection may be necessary to assess the damage and carry out repairs promptly. When a tenant reports a major appliance is no longer working or a door won’t lock properly, you’ll need to see personally what’s going on.
Routine Inspections Protect Investors Over the Long Term
A small leak under the sink might seem insignificant now, but over time, it could result in mold growth, water damage, and hefty repair bills. Rental property owners who perform quarterly or semi-annual inspections identify these minor issues early—saving themselves, on average, hundreds of dollars per event, according to Angie’s List averages.
Routine inspections offer a chance to communicate directly with tenants, discussing how the property is functioning for them. Tenants who feel heard are more likely to report minor issues—a win for both parties. You want your tenants reporting problems right away so that there’s less deferred work to worry about.
Inspections also ensure you’re compliant with local laws regarding habitability and safety standards. Skipping this step can lead to fines or disagreements that lower tenant satisfaction.
Professional Property Management Makes a Difference
Columbia Property Management prioritizes comprehensive, detail-rich inspections when managing a property. Our detailed approach and the industry leading methods we employ for conducting inspections at your property is a step above what property owners do on their own.
We know that a lot of landlords and self-managing owners have an idea of what they should be monitoring. Many casual landlords and property owners do not think to conduct regular inspections or know what to look for. In fact, a lot of other property management companies don’t, either. The difference we provide at Columbia Property Management is our experience managing many residential dwellings and the knowledge that comes from doing this work every day for over a decade. Our approach is always going to prioritize protecting your investment in the D.C. rental market.
We know we’re an excellent resource when it comes to protecting your investment with routine inspections. Let’s talk about how you can leverage our resources, tools, and expertise. Contact the property management team at Columbia Property Management.
The above article discusses routine and regular evaluations of the property condition both inside and outside, how the tenants are taking care of the rental and whether they are abiding by the provisions of their rental agreement. These surveys by the property manager are not to be confused with a home inspection, which can only be conducted by a licensed home inspection professional.
