It is under estimated the importance of doing regular inspections on your property. As your property manager we are regularly inspecting your property. It is usually required by many insurance companies that inspections are performed properly.
We start off with what we call the ‘move-in’ or ‘entry’ inspection when the tenant first moves into the property. This is to ensure both the landlord and the tenant are on the same page and to minimize any discrepancies at the end of the tenancies.
Throughout the course of the tenancy, we perform ‘routine’ inspections which we do every 3 months to ensure maintenance isn’t being ignored and the property is kept in the expected condition. It also minimizes the risk of damages which could be prevented if caught early. These inspections we provide you as the owner a detailed report with photos.
Our final inspection for each tenancy is called the move-out inspection. This is done the day (or day after) the tenant vacates the property. We inspect to ensure the property has been left how it was when the tenant moved in (apart from wear and tear). Should we not be fully satisfied with the final inspection, we will negotiate with the tenant to remedy it otherwise it will be deducted from the bond. Should the bond not be enough, we go to tenancy tribunal for an order to claim then expense back from the tenant.
We check the rents daily. As soon as rent is missed, we notify the tenant straight away to have it remedied immediately. Should it still not get sorted by the tenant, we send out the required legal notices and apply for tenancy tribunal not long after. We don’t tolerate rent arrears and outline this with tenants before they move into our properties.
We are investors ourselves, and we understand as investors the importance of cashflow. This is why Street Smart pays out owners weekly (rather than monthly).