Property Walkthroughs.... Waste of time?

[Alex S.]

I want to bring up a question that may seem to be blasphemy to a lot of landlords.... Are rental property walkthroughs/inspections really worth it? The reason I ask is because I have been landlording for several years and do not make it a point to do walkthroughs. The logic is simple. As much as it pains me to admit it, once a tenant signs a lease and moves in, my hands are very much tied. What power do I really have to rectify a tenant who paints walls without my authorization, or even allows an unauthorized tenant to move in with them? I understand the argument that perhaps me checking in every couple months might give them the feeling that i am keeping an eye on things and therefore maybe they treat the house better. But in large, you don't really have the power to change anything through walkthroughs, so why do them? It is a much more effective use of my time to drive the things I can change versus those I can't. Can someone weigh in?

[Kyle Hipp]

I don't understand what you mean that you can't do anything when a tenant violates the lease. If a tenant paints the walls without authorization then you can have them pay to paint it back or write up the job correctly. If they have an unauthorized guest get it corrected. Issue a 5 day cure or quit. 

The biggest thing is to check things that the tenant might not do. Check under the sinks for leaks, check that the furnace filter has been changed, change the smoke detector and carbon monoxide detectors. You need to check out all the things out that will cost you money. You can catch an issue that can be fixed now for $100 that might be $2,000 a year from now. That is a good return for a half hour of your time once or twice year in my experience.