Property evaluations are an important part of successful rental experiences. They can set the tone with the tenant and document a property’s condition. Evaluations also hold the tenant responsible and accountable throughout the tenancy. They also detail the condition of the property at move-out.
There are a few evaluations throughout the course of a lease that are beneficial to us as property managers and you as the owner. We partner with a company called Z Inspector to do our inspections. It is a great app we use that allows us to go into the property and take pictures and videos. We can also create a customized report with a lot of information. We can even do voice recordings with information which details the condition of the property.
Creating a Move-In Report
The first inspection we do is our move-in report. As soon as we get a tenant approved for the property, we will go in and detail the condition of the property. We will go through the property and take a lot of pictures and videos and take a lot of notes. We will document things within the property that are new and anything that might be slightly damaged or problematic. The tenant signs the review and agrees to the property condition.
Property Compliance Walk-Through
Once the tenant is in the property, we do a walk-through within the first six to nine months. This is to look for a couple of things. We want to make sure the tenants are taking good care of the property. We are also making sure the tenant is complying with the lease. This is really helpful at maybe catching a bad tenant before they can do a lot of damage to the property.
While walking through the home, we’ll take some pictures and create a report that’s available to both the tenants and the owner at all times.
Creating a Move-Out Report
We also do the move-out inspection report. This report is similar to the move-in report. As soon as the tenant moves out, we basically go back and look at every single thing we documented during the move-in report. It’s important to compare the move-in pictures to the move-out pictures. It provides evidence in case there is damage.
Annual Pet Inspections
If the tenant has a pet, we require the tenant to purchase an annual pet inspection. This allows us to go through the property and make sure that the pet is not damaging the home. This is a great protection program, and we use the same zInspector app.
Once we are done with all these inspections, we put them into our software, making them available to owners and tenants for review. If you are an out-of-state owner, this is a great way to really keep eyes on your property. You don’t have to just hear us say that everything is fine; you can actually see the report for yourself.
Our owners constantly tell us this is one of their favorite services that we offer. It brings great value to our clients. If you have any questions about our inspection and evaluation process, please do not hesitate to contact us at CRM Properties.
Indianapolis Property Management Services – A Wise Investment
Too many people get into the rental property market as a means to grow their investment money thinking it’ll be a passive investment. It’s a good decision for the most part, as property values tend to increase over time no matter where you are and the rent payments almost make this investment self-funding. However, what appears to be a perfect plan on paper often turns out to be anything but in reality. Tenants create management situations, whether they are good or not so good, and rental properties take time to maintain, even if they’re relatively new.
Unfortunately, a lot of rental property investors do not go ahead and hire Indianapolis property management services because they think it’d be too costly. In most situations, this thinking is misguided. As you’ll see below, CRM Properties can help you understand the full value of your rental property such that it’s quite possible that you can charge more in rent than you would have otherwise. Given that potential, it’s also quite possible that this extra rent revenue will help to pay for your property management in Indianapolis. Once again, you’ve achieved a largely self-funding model.