Greetings Real Estate Investors!
So…about two weeks ago your grass was really brown and you were wondering if you were going to have to finance your next water bill because of how often you had your sprinklers on. And then it happened: The Rainy Season. Probably about the 1st of the month the rain started and seemingly did not stop for about a week. It’s like it had been clogged and then had to release everything it had pent up over the last few months. And now your grass is almost a foot high and you’re wondering whether your landscaping company actually comes every two weeks or if it is three!
Rain Rain Go Away
The South Florida summer has begun and with it the return of an income property’s worst enemy…water. Rain to be specific. Because water that comes up through the pipes is a non-stop year round concern for landlords but most of the time it requires minor repairs. It’s the water from the sky that can seep in and cause major problems for your property and your wallet. From roof leaks to mold to slip and fall to the entire foundation of your property crumbling there is no wonder “Rain Rain Go Away” is etched into the popular psyche.
Rock the Cradle
To continue with the old phrases that became songs it has been said that “The Hand that Rocks the Cradle Rules the World”. This is actually a deep statement that means that if you are present and paying attention to something regularly then you will be the one who is control. And while this may actually not be the literal case for babies it is definitely the case for investment properties. Even though you are an absentee owner by definition, you will suffer greatly if you are truly an owner who is absent on the regular goings on of your property. And if you don’t pay attention to the sky water that is currently bombarding your property on daily basis you may soon be the owner of a liability instead of an asset.
The Perfect Timing of Quarterly Inspections
Many property management companies will laugh when you ask them when they can inspect your property. Others will tell you once a year is enough. But that is probably because property management is not the primary business so they don’t have the experience that managing hundreds of properties at once gives you. If you wait a year or even six months the problems that can be caused by leaks will be too advanced to repair easily and will require substantial out of pocket expense. That’s why Real Property Management Miami recommends quarterly inspections that occur in March, June, September and December to ensure that your property has the best possible protection. And as luck would have it the second inspection happens right around the start of the rainy season so if there are any pending leaks you are going to know and avoid major repairs. You will also sleep better at night without annoying old songs and saying repeating in your head!
Sleep better at night, call us at 305-517-3900 to schedule a consultation and we will make sure your property is protected and your tenants are awesome!
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