Top 3 Property Inspections Every Property Manager Must Know
Every property manager is required to carry out property inspections to ensure properties are up to code and meet certain building requirements. Performing regular property inspections will not only determine the structural integrity of a building but also give property managers the opportunity to correct any structural issues in a timely manner to protect their assets. Property inspections also help you do the following:
- Document property condition.
- Check and improve owner liability.
- Avoid deferred maintenance.
- Validate insurance policies.
- Increase tenant retention.
To maximize the benefits of property inspections, property managers should consider these 3 types:
- Building maintenance inspections
This type of inspection covers areas such as roofing, HVAC, lighting, electrical, exterior and interior, and plumbing of buildings. Building maintenance inspections should be performed regularly to avoid upkeep problems that can lead to operation costs and violations to city and state regulations.
- Move-in & move-out inspections
These inspections are performed to review and document the property condition before and after tenant’s residency. It will examine the overall condition of the property by thoroughly checking every aspect of the property, taking note of potential damages such as scratches/marks on walls or floors, holes in ceiling or walls, damaged window sills, door frames, etc. This is performed to ensure accountability on damages found during the inspection.
- Third-party inspections
Prospective buyers have a legal right to request for this type of inspection before purchasing new property. Property managers can either employ third-party inspectors or carry it out on their own if they offer the service. Third-party inspections can be one of the following:
A good property management software should improve your overall process instead of just converting your paper records to digital ones. It needs to be versatile, capable of adapting to your management needs and preferences. It needs to be simple, striking a balance between utility and sufficient complexity to get the job done. Lastly, it needs to be cost-effective.
By integrating iAuditor by SafetyCulture into your property management process, you can get rid of paper forms altogether and be spared from storage and manual filing dilemmas. Upgrade your property management process and maximize the potential of your operation today.
