Boasting excellent public schools, many opportunities for outdoor activities, and an exceptional health system, New City, NY, deserves the A+ grade it got from Niche.com. The review site also cited this New York City suburb as one of New York's best places to live. Plus, with 93% of its residents being homeowners, it's a prime spot to be a landlord, as you'll have few competitors.
As a New City landlord, though, you'll have many legal duties to perform, including property inspections to ensure compliance and the well-being of your tenants.
Join our team here at PMI Properties as we reveal critical insights into landlord inspections and why you must conduct them regularly.
Adhere to Building and Safety Codes
In New City, NY, residential rental building owners, landlords, and property managers must adhere to safety, health, and building codes. Some examples of such city, state, and federal laws include:
- Article 131: Buildings (New York City Code)
- New York City Local Law 55: Landlord Annual Inspection
- Property Maintenance Code of New York State (PMCNYS)
- Healthy Housing Codes
- Hazard Management Standards - Asbestos, Lead, Pesticides, and Radon
All those codes help ensure that everyone who enters a residential building, whether a tenant, a tenant's guests, or the landlord, will not face health and safety risks, such as pests or mold. Because people's health and lives are at stake, non-compliance with these rules can lead to hefty fines and severe penalties.
Scheduling regular inspections can help determine if your property poses health or safety risks. If so, you should address them swiftly to prevent harm.
Catch Problems Before They Worsen
Another reason to conduct inspections as part of your property maintenance planning is to identify and fix problems before they worsen. Because if they do, they'll cost more to repair.
Avoiding repairs should be a top priority, considering they're becoming more expensive. According to a June 2024 article by CNBC, a Bankrate study found that "hidden" home costs, which include maintenance and repair expenses, have risen by 26% in the last four years. In New York, these expenses amount to $22,807 annually or $1,901 monthly.
Ensure Tenancy Maintenance
A regularly scheduled leasing inspection lets you confirm that your tenants adhere to the lease agreement's terms and conditions. During an inspection, you can see whether they've been performing their tenant maintenance responsibilities. You may also discover signs that they've breached the lease, such as having more occupants than allowed.
Keep Your Rental in Top Shape With Property Inspections
Regular property inspections in New City, NY, are vital to ensuring legal compliance. They can also help keep your rental pristine, which tenants will appreciate and be happy about. The happier your renters are, the more likely they are to renew their lease.
PMI Properties can assist with your property's overall management and help ensure it's legally compliant. As your full-service property management team, we'll oversee inspections, maintenance, tenant adherence, and evictions. With our expertise, state-of-the-art technology, and the support of PMI, our parent company that's been perfecting the property management industry for over two decades, we can help make your rental business thrive.
Speak with us today for a free property consultation.
