How often do you check your rentals - smoke detectors etc

[Steve S.]

Do you do this yourself?  How frequently?

Do you pay to change out ac filters or expect tenants to do that?  How frequently?

Do you provide fire extinguisher in each rental?

I’m trying to think of any opportunities I have to reduce risk to my real estate portfolio. What other things am I not thinking of?

[Patricia Steiner]

My clients and I use a Property Inspection Checklist (proprietary) which is completed quarterly on all rentals. Each owner/client has a vetted resource I have provided who does the physical inspections, changes AC filters, changes out smoke detector batteries when scheduled, and documents any repairs/improvements/issues. The resource works for each owner and is paid by each owner; the fee is determined by the two parties but it generally is $50 or so. The completed inspection form is sent to the specific owners for review.  Next steps/repairs are planned at that time.

I would never leave filter replacement to the tenant; it just doesn't get done and shortens the life of the unit.  

Each property has a fire extinguisher with the expiration date noted on the outside of the can with a Sharpie pen (those suckers expire!).  We also provide a toilet plunger, hair removal tool for the shower/tub, and instructions on how to reset a garbage disposal, etc.  

Having a standard process for all properties streamlines the effort and lowers costs.  Hope this helps...