Property inspections for commercial properties are necessary, but how should you oversee them?
A major part of being successful in real estate involves investing in the right properties. However, if you intend to rent properties out, you must also maintain them, and conducting property inspections is one way to do so.
Unfortunately, many new owners have a hard time determining how they should approach inspections. To avoid confusion, we've put together this quick guide for owners of commercial properties in Dickson.
Keep reading to learn how to oversee inspections!
Ensure the Property Is in Good Shape
As an owner, one of the main things you must do is ensure your property is in good shape. An inspection can help you do this, but you should try to maintain it before conducting one to get the best results. Doing this will make it easier to spot the little things that need improvement.
The best way to maintain your property is to invest in regular maintenance and cleaning. Whenever you notice an issue, fix it immediately to avoid causing larger issues.
If you work with a professional property management company, they can take care of all these things for you.
Hire the Right Inspector
When you are ready to conduct a commercial property inspection, it's crucial to hire an inspector with the right credentials. You will want someone who has several years of experience with positive customer feedback.
In Dickson, you can find a variety of inspectors on Google. However, you should browse through several customer review sites to see what other property managers and owners think about them.
You should also contact each inspector to learn more about their services and rates. Providing they have good reviews and decent rates, you will likely have a positive experience with them.
Set a Schedule for Property Inspections
The next thing you should do is set a schedule, which can be tricky when managing commercial properties. However, a commercial building inspection is a time-consuming process, so it's best to spread them out.
If you currently have tenants in a commercial property, consider conducting an inspection every three to six months. If you do not have tenants, one inspection before selling or renting the property is enough.
Keep in mind that an inspection can also be a nuisance to tenants, so try to be as flexible as possible. In the lease agreement, outline exactly when you will conduct the inspections and what the tenant can expect during them. This can encourage them to renew their leases because they won't feel bothered while trying to operate their businesses.
Manage Commercial Properties With PMI Property Management
As you can see, overseeing property inspections for commercial properties is not difficult. However, managing properties can be difficult, especially if you own several.
To ensure you have the most success in commercial real estate, you should start working with PMI Property Management today. Whether all of your properties are in Dickson, TN, or another region, we can assist you.
Get in touch to learn more about how we will ensure you better manage your real estate portfolio!
