5 Kinds of Rental Property Inspections
As a property owner it is essential to inspect your rental property often, regardless if you choose to hire an expert property inspector or do the inspection work on your own. Rental property inspections is a key duty of landowners and property managers. They will assure you whether your property is well taken care of and ensure that any issues are tackled before they get worse. The inspection reports also possess legal grounds if a dispute concerning the security deposit funds arise.
Property Inspection before switching a property manager
In case you’ve made the choice to employ a property management firm or you are simply switching your existing company with a new one, it is necessary to do an initial inspection yourself, before the new company takes over. The new property management company will most likely conduct an conditional property inspection before settling the final agreement. In case you have completed an inspection yourself, you may able to keep your report as a reference and compare it to their report.
An inspection from a property management company are more extensive than a simple walk through and offer you a more detailed information of the current status of your rental property.
New Tenant Move-in Inspection
When a new tenant is about to move in, it would be wise to complete a walk through inspection of the property with your tenant. Preferably with the house still vacant. From this initial inspection, you can report any current damages inflicted on your property. This task is necessary for protecting you and the renter from any legal battles over the status of the property or the charges and accountability for documented damages.
At the end of the lease and your renter decides to move out the property, arrange a move-out inspection in their presence before they give you the keys. We recommend that you conduct the inspection once the house is empty. This is important for checking whether there are any damages to the property that are not considered as normal wear and tear. After this, you can compare it to the move-in inspection report you’ve made when the renter moved in. If there is a need for repairs you can notify the tenant to repair the issue or discount the cost of the repair from the security deposit.
Periodic Property Inspections
Occasional inspections should be conducted, even after your new tenant settles in. Seasonal inspections are important for ensuring that everything is in an optimal condition, from season to season. Seasonal inspections involve inspecting plumbing connections, irrigation machines, and anything relevant that would need periodic maintenance such as; Air conditioning system, water heater, washer and dryer, well system, etc.
It is suggested that you perform an inspection and schedule property maintenance every couple of months. Doing so, will send the message to your renters that you are properly maintaining your property and that you can resolve any problems that may emerge. Just make sure to notify your tenants in advance, before they move in.
* Don’t forget that you have to notify your tenant before you step in the property to carry out any inspections.
Check the property from the street as your drive by and look out for any signs of damage that may require prompt repair or maintenance. Also, ensure that there are no dangerous or toxic materials dumped outside e.g. paint cans or a neglected yard full of garbage. Have your camera with you and ensure that any photos you take have a date/time indicator for your reports.
An extensive inspection can assist you in handling the property maintenance and establishing clear interactions with your renter, concerning the status of your property. By carrying out numerous kinds of property inspections during the year will maximize the value of your investment.