A property manager charged $3,000 for a detailed inspection report. The client balked at the fee until discovering that a previous landlord's $500 quick inspection missed problems that eventually cost $47,000 to fix. Thorough documentation upfront prevents far larger expenses down the road.
Conrad Vass here from Space Property. I am just driving back after receiving a call from a client regarding fees, and they felt that our fees were high, which was interesting considering I just left their property, conducted an Ingoing Conditions Report, which took over 2 hours. So that's just part of our service, which makes it really difficult to have people understand what is actually involved. You can, like anything, you can do a 5-minute report, or you can take your time, document it properly for the benefit of all parties. That all said, takes a lot, takes a lot longer, and time is money. And, um, unfortunately, someone who wants to take care of their clients and their customers, uh, you know, reflects in the quality. Less less areas of conflict, hopefully through better quality reporting. So it's about value, guys and girls, particularly if you're property investors. It, uh, it might just seem like dollars and cents to you, but cutting corners on things like Inspections, recommendations, you know, your management plans for your property. They are costs. They are real costs if you don't pay attention.
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