It is essential to regularly check the condition of your rental property. You can either hire a professional property management agency to do it or you can conduct the inspections yourself. Property inspections are without a doubt one of the most important tasks for a property manager or landlord. Furthermore, the inspection report is also extremely useful, as it acts legal document if needed. There are various types of inspections, and we are going to talk about all of them in this article.
In case you have decided to hire a property management company, or if you are in the process of changing management companies, then you should assess your property from top to bottom and document the entire condition before any business comes in. New property directors will most probably require a pre-agreement inspection before they start to manage it. The inspection itself is a lot more detailed than a simple walkthrough, and it gives you and the property management company a good idea of the property’s condition.
It is important that you walk through your property with the new renter, before they actually move in to see if there is any existing damage. This will protect both you and your tenant from legal disputes regarding the condition of the place, and any costs thye may be associated with damage to the property.
When a tenant is leaving, it is recommended that you schedule a move-out inspection. This will allow you to see exactly if there are any damages that the tenant must pay for. Once the inspection is done you can easily compare the move-in inspection papers with the move-out inspection papers, and see if there are any changes. In case repairs are needed, you must document the cost which you can actually deduct from the renter’s bond or deposit.
After a resident moves in, you must complete periodic inspections in order to make sure everything is in excellent condition, especially because the seasons change. Carefully check smoke alarms are working, gutters, plumbing, irrigation systems, and furnace filters. Schedule an inspection every three to six months.
Inspecting your rental property doesn’t mean that you must notify your renter. In order to see how your property management business or renters are taking care of the place, we recommend doing periodic drive-in inspections. First of all, you should have a look at your property from the outside to see if there is anything that needs to be repaired or replaced.
Take your time and have a close look at every corner of your property. If you want you can also take some photos. There is no doubt that a thorough inspection will help you manage ongoing needs for maintenance at your rental property. A few inspections throughout the year will definitely keep your investment in top shape.
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