Are you planning on investing in a commercial property in Boynton Beach, FL? It's a city with a great economic future, so it's a boon for commercial property investors!
However, don't start seeking tenants for your commercial property just yet! You want your property to be maintained to the highest standards.
For this, you need to schedule property inspections. This is the best way to prevent future issues or hazards on the property.
Read on to learn what you need to know about commercial property inspections in Boynton Beach.
Why Property Inspections Matter
Property inspections are crucial for making your property look brand new. Even if you've owned a property for a decade, tenants will look for a place that hasn't aged.
A property inspector will observe your property and take notes about its condition. Many of them will also take photos and videos. This is crucial for comparing your property's condition before and after the tenants move in.
The property inspector will also recommend ways to fix any issues. They can refer you to contractors who'll handle repairs and renovations.
One should consider including a clause in the rental agreement to require property inspections during the tenant's stay.
How Often to Conduct Property Inspections
At a minimum, you should conduct one property inspection before your tenant moves in. You should also conduct another property inspection within a few days of them leaving.
What about when you have a tenant? First, you have to consider how long their lease agreement is. Let's presume you've signed a one-year lease with your tenant.
You can consider having one property inspection at the halfway point during their lease. If they're a responsible tenant, this should be enough.
If you're unsure, you can schedule more frequent inspections. You can consider conducting an inspection every three or four months. However, make sure these inspections are stipulated in your rental agreement.
You must inform the tenant about an upcoming property inspection. It should always be conducted at a reasonable time. The tenant has the right to be present at all times during the inspection.
It's also important to remember that your tenants are entitled to their privacy. In a commercial property, your tenant may have to interrupt their business activities to accommodate an inspection.
If you infringe upon these rights, tenants can sue you. They'll also be less likely to renew their leases.
Communicate with them and schedule inspections that work best for everyone. Responsible tenants will be glad that you're conducting inspections.
With these regular inspections, you can ensure that your property is always welcoming to businesses!
Property Inspections Are a Step Forward
Now you know why property inspections matter as part of your Boynton Beach commercial management process.
Property inspections ensure your commercial real estate is always maintained. Your tenants will also thank you for your due diligence. However, you'll need a great property manager to help you.
PMI Expert PB is part of a franchise with more than 20 years of experience and has received consistently positive reviews from commercial property owners throughout Boynton Beach. We'll be glad to help you as well! Contact us to learn more.
