Wednesday, December 19, 2012

Tools of the Real Estate Investment Trade.

Tenant Electrical Tampering

When I started out as a Landlord, I was very naive about how tenants could damage your investment property and get away with it.

One of the hidden problems is your electrical outlets. They can be tampered with or damaged very easily without the Landlord's knowledge.

I had a tenant set up a tent on the back patio of one of my investment properties to repair engines. I noticed he jury rigged lighting from one of the outlets in the back bedroom. I wasn't happy about it but didn't say anything.

After the family moved out I went over the property to detect the repairs needed for the next occupants. I noticed that outlet used for outside electricity wasn't working properly but I didn't know why. I remember my Dad, who an electrician, using a tool to check the current status of each outlet.

This instrument not only checks but reports back through a series light combinations the existing status.

Advantages

This little tool provides the owner or Landlord the following advantages:

  • Check current state of electrical outlets before tenant moves out. Use security deposit to implement repairs.
  • Before purchasing an investment property, check existing status of the electrical network inside the potential investment property. Have Seller do repairs instead of the Buyer.
  • The tool is easy to use.
  • Very inexpensive.
  • No need for an Electrician. DIY (Do-It-Yourself).

Outlet Status

Below is a table that displays the Outlet Status when the three prong is plugged into a standard 110 volt outlet:

OUTLET TESTER STATUS CHART
STATUSINDICATOR
OPEN GROUNDOFF ON OFF
OPEN NEUTRALOFF OFF ON
OPEN HOTOFF OFF OFF
HOT/GROUND REVERSEDON OFF ON
HOT/NEUTRAL REVERSEDON ON OFF
CORRECTOFF ON ON

This little tool can save time and money and that my friends is the bottom line to managing your investment portfolio.

Related Links, Blog Postings, Presentations or Articles:

Written by Bob Burns.
 
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