How to Inspect my Olympic Rental Home to Increase ROI: JBLM Landlord Education

On our blog today, we want to share some tips on how to protect your home and increase the return on your investment, or your ROI. At Capital Properties, our goal is to take care of your investment property by making sure it is being maintained well.

One of the easiest things you can do is a drive by inspection. Simply driving through the neighborhood and checking out the property once in a while can give you a good idea of how the place looks. You can take a look at the curb appeal and make sure the roof and the exterior are in acceptable shape. You’ll be able to see if the yard is being kept up and if the outside area is up to your standards.

In addition to checking out the exterior of the house, you want to gain access to the inside of the house for a proper inspection. Contact your tenants to schedule a walk through on a quarterly basis. This will allow you to meet with the tenants and share some tips on how to take care of the property. It will be helpful to them if you can explain how different functions of the house work. You can tell them how to take care of things inside the house and you’ll also have the opportunity to look around and make sure everything is in order. Inspect the paint so you can see what kind of condition the walls are in and look at the floor to see if anything needs to be repaired or replaced. Look for issues in the bathrooms and the kitchen; especially problems with moisture and mold. It’s very important for your ROI that maintenance is on track and issues aren’t being ignored.

You can also increase the return on your investment by paying attention to the market trends. During your inspections, take a look at the neighborhood. Identify other properties in the area that are for rent and investigate what kind of rental prices they are getting. Evaluate whether those prices are going up or trending down. You’ll also want to know who those renters are. In this area, there’s often an influx of military families moving into the local neighborhoods, and that has an impact on how you’ll price your investment.

There is so much information to share on this topic. If you are interested in learning more, or you have any questions, please contact us at Capital Properties.