What Is a Property Condition Report?
As a property owner, we understand that you might not always have the time or resources to conduct regular evaluations.
The good news is that your property management company can handle things for you. So next time you hear someone say, “I haven’t seen inside my property since they moved in,” rest assured you won’t have to worry about neglecting your investment.
Our Central Texas property managers explain what a property condition report is and why you want one here.
What Is a Property Condition Report?
A property condition report is a comprehensive evaluation of the physical condition of a property. The report evaluates some or all of the following components:
1. Exterior (a view from the curb)
- At 512-Society Property Management, our team looks at overall vegetation to ensure the plants, grasses, and any ornamental foliage is alive and welcoming from the view of the street.
- Next, we will look at the exterior structure for any visible issues like rotted siding, cracking out of the norm, broken light fixtures, etc. We also look at the garage door and front & back doors to ensure they are operating as intended with no bumps or bruises affecting the look and or safety of the home.
- We look at the fence (if applicable) to ensure there aren’t rotted pickets that need replacing and check the gate for function.
- Our team will go through the home and check items such as blinds, appliances, drains, toilets, lights, cabinet doors, and interior doors for function.
- The HVAC system and thermostat are examined to ensure they turn on and cool. We also check the AC filter for cleanliness because a dirty filter could damage your system.
- If the property is occupied, we’ll check for any major damages outside of wear and tear. If we come across something, we’ll talk with the resident to repair things or bill a higher security deposit based on our findings.
*This type of report is not a Home Inspection. A Home Inspection requires a license through the Texas Real Estate Commission Inspection Licensing Agency in Texas. We, as your property manager, do not perform detailed inspection reports. You can order a home inspection if you want an extensive list of repairs.
Overall, property condition reports provide valuable information about the condition of a property which owners and property managers can use to make informed decisions regarding maintenance plans or other financial decisions based on the current state of the asset(s).
Why Would I Want a Property Condition Report?
Commercial buildings and rental properties are a significant investment for any business owner. However, maintaining and repairing these properties can be costly, and the owner’s liability extends to employees and residents. To reduce this risk, property owners should know it is essential to have a commercial property inspection done by a reputable company.
Identify Potential Hazards or Issues
Routine inspection can help identify potential hazards or issues that may threaten the safety of employees and residents. Additionally, it may allow an owner to make repairs before a problem gets exponentially worse.
These reports can also help the owner understand the property’s condition, including any necessary repairs or maintenance, which is information that an owner would need to consider before making financing agreements or preparing for a sale.
Make Informed Decisions About Your Investment
By thoroughly understanding the property’s condition, owners can make informed decisions about their investment.They can negotiate better deals with sellers or adjust their budget accordingly to accommodate necessary repairs or maintenance.
Furthermore, commercial property reports are for more than just current owners. They are also important for potential buyers. If you’re looking to purchase a commercial property, it’s crucial to have an inspection done before making an offer. This report will give you a preliminary idea of what you’re getting into and help you avoid unpleasant surprises.
Property Condition Reports in Central Texas
At 512-Society Property Management, we understand the importance of regular evaluations for your investment. That’s why we have implemented a property condition report process that ensures our evaluation team regularly assesses your property. We believe it’s crucial to stay on top of any potential issues or maintenance needs before they become more significant problems, and our process allows us to do just that.
Our property condition report process involves scheduling an appointment every six months for us to visit your rental property.
By investing in a great management company, you’re also protecting yourself from potential legal liabilities. If an accident were to occur due to negligence on your part as an owner, you could face significant financial consequences. Our routine inspections help mitigate these risks by ensuring your property is up to code and safe for occupancy.
Contact Our Central Texas Property Managers
Don’t take chances with your commercial property investment. Call 512-990-3551 or contact us today to schedule your personalized property management assessment plan and gain peace of mind knowing you’re making a sound investment for yourself and your business.