One important part of the rental process is regular rental inspections. Regularly inspecting your rental property will help ensure that you nip potential problems early before they become costly to repair.
The following are top reasons for conducting regular inspections of your rental properties.
Decks can start to miss pieces of wood, presenting the danger to people and pets falling through the gaps. With a proper routine inspection, unsafe conditions such as these can be found and corrected on time.
There is also the risk of tenants engaging in criminal activities in your rental property. Even with a thorough tenant screening, there is always the risk of renting to a criminal. With routine inspections, you may be able to detect signs of criminal activities on your property.
Rental units can be rented quickly if repairs are made as maintenance problems come up. If maintenance issues are ignored, they may become serious requiring a prolonged period to fix them. This may lead to a delayed tenant turnover.
At this point, the tenant may also consider withholding rent payments until you fix the problem. They may also have a right to break the lease or rental agreement early.
A good landlord-tenant relationship is a two-way street. Tenants desire a good quality of living. You, on the other hand, seek to receive a timely return on your investment.
A happy tenant is also more likely to extend their lease or rental agreement to another cycle. With a low tenant turnover, you won’t have to spend money constantly to attract new tenants.
During the rental property inspections, it is best that you do the following:
There are five main types of rental property inspections.
During the move-in inspection, it’s important that anything that is damaged or missing from the property is noted down on the inspection report. After the inspection process, each party should sign the document.
Similar to a move-in inspection, the move-out inspection should be conducted by both you and your tenant. This helps minimize disputes concerning who is responsible for any damage that may have occurred during the tenancy. If the tenant caused damages beyond normal wear and tear, the landlord has a right to deduct money from the tenant’s security deposit.
When conducting these inspections, it’s important to adhere to the local laws. Many states require that you notify your tenant in advance. Typically, this notice should be at least 24 hours prior to the intended inspection. The frequency of the visits should also be reasonable. If too many, you risk being accused of tenant harassment.
Clearly, routine rental property inspections are necessary. If you find the process rather daunting, we recommend that you hire a competent property manager that you can trust.