Ever since the 2006 housing crisis, the number of renters has been on the rise. It's estimated that approximately 40% of Americans rent their home.
If you're on the homeowner side of that equation, you're likely to have a rotating door of tenants. How do you keep your rental property looking and functioning in top condition? One way is through rental property inspections.
This rental property inspection guide will walk you through 3 rental property inspection types. Grab a notepad and read on!
What is a Rental Property Inspection?
Anytime a landlord or property manager inspects a property in an official capacity, it is a rental property inspection. The primary purpose of the inspection is to assess the condition of the property outside and in. The most thorough inspections include the tenant so they can inform you of any issues.
Some tenants feel like they're in trouble when you schedule an inspection. On the contrary, inspections are in place to help the tenant.
You can explain that you carry out inspections because you care about the home and want them to have the best possible experience living there. You can also point out that regular inspections provide you with the opportunity to find issues before they turn into costly problems. That saves them the shock and cost of having to fix/pay for something after they move out.
1. Move-in Inspection
An inspection with the tenant when they move in starts you off on the right foot. You should both make documentation in the form of pictures and notes about the condition of the property. This protects you both down the line.
It protects the renter from being blamed for damage they truly did not cause. It protects you by providing a signed agreement of the condition of the home. If issues arise after the tenant vacates the property, you will have this vital information to refer back to.
2. Routine Inspection
Landlord laws vary by state. Most states require a written notice 24 hours before entering for a good reason. These will be easier for the property manager to schedule if the rental agreement states that a quarterly "safe and clean" inspection will take place.
During these inspections, keep your mind on prevention. If you see a leaky faucet, act to fix it to prevent it from becoming a larger problem. As with all inspections, document with pictures and a signed record and share it with the tenant.
3. Move-out Inspection
The move-out inspection gives you the chance to walk through the property with the tenant one final time. Document thoroughly! Talk things over with the tenant so you're on the same page about the findings of your walk-through.
By doing this walkthrough together you reduce the likelihood of drawn-out arguments of damage that will cut into the security deposit refund.
Schedule Rental Property Inspections Today!
These three rental property inspections set you us for rental success. They are a tool to help you keep your home in good repair and well-maintained by tenants.
If you're looking for property management in the Oxford or Lafayette County areas in Mississippi, look no further than Cissell Management Company. Our team conducts all necessary inspections and more so you have fewer things to worry about.
Contact us today for more information!
