Inspecting a rental property is one of the crucial aspects of being a landlord. Disputes about a property’s condition can occur during turnover, and property inspections help prevent such scenarios. The ideal tenant is a low-maintenance, long-term renter who takes care of your property as if it was their own. However, property owners do not always get these types of people, so routine property inspection becomes necessary. 

Rental property inspection is the process of periodically reviewing the interior and exterior of a property to assess its condition. Typically, the tenant will be present when the landlord conducts a rental property inspection to be aware of any arising concerns. As a landlord, you may do the inspection yourself or hire a rental property inspection services company. 

Inspecting your property lets the tenant know what you expect from them and the condition in which they must return your asset. This article will educate you on all you need to know about conducting a final rental walk-through and other types of inspections. 

Why Is a Rental Property Inspection Important?

Routinely inspecting your property is vital for the following reasons: 

• Helps Ensure Your Tenants Stick to the Rules 

Tenants sign an agreement with specific terms upon entering a property, and you want to make sure they are not violating any rules. A regular inspection also helps you make sure that the tenant does not modify your property. The knowledge that you’ll be making periodic checks incentivizes the tenant to be careful in keeping to the terms of the agreement. 

• Helps You Check Out Maintenance Issues on Your Property 

A tenant may decide to ignore arising maintenance concerns, significantly when they do not directly inconvenience them. These maintenance problems can reduce the market value of your property. Periodic rental property inspections alert you to these issues and allow you to fix them promptly. 

• Helps You Know and Meet Your Tenants’ Needs 

Property inspection helps you ensure that your renters are satisfied with the conditions and amenities on your property. A tenant is unlikely to renew their rent if they are not pleased with the state of the property. An inspection lets you know your tenants’ thoughts so you can take appropriate steps. 

• Improves the Relationship Between Landlords and Tenants 

A good landlord-tenant relationship is better for maintaining the value of the property. For landlords that cannot always be on their property due to distance or some other reason, scheduled inspections create the opportunity for them to know those to whom they have leased their property. 

• Helps You Validate the Terms of Your Insurance 

Insurance companies mandate owners to carry out regular inspections of an insured property. Failing to inspect the property after a specified period can affect the validity of your insurance. 

Types of Rental Property Inspection 

A rental property inspection can be done by the landlord, a property manager, or a real estate agency. Inspectors typically ensure the thoroughness of their evaluation by using a routine rental inspection checklist.

Let’s look at the types of inspection a landlord or property manager can perform on a property: 

• Move-in Inspection

A move-in inspection (walk-through) happens after a tenant has signed an agreement but is yet to move into the property. Inspectors walk the tenant from room to room using the checklist and take photos and videos for future purposes. The tenant signs the checklist at the end of the inspection, which becomes part of the agreement. 

• Move-out Inspection

A move-out inspection happens when a tenant is about to move out. This type of inspection lets you assess the property’s current condition compared to its state when the tenant moved in. Ideally, you should perform a move-out inspection the same day the tenant vacates your premises, so there is no dispute about any sustained damage to the property. 

• Drive-by Inspection

A drive-by inspection is performed without notice to assess a property’s exterior. Landlords use drive-by assessments to observe items that are out of place that they wouldn’t find in a routine inspection.  Drive-by reviews also provide an opportunity for landlords to meet nearby occupants who can provide helpful insight into your tenants’ conduct. 

• Routine Property Inspection

This type of inspection occurs quarterly or biannually to ensure your property is in top shape. A routine inspection allows you to spot and quickly fix issues, and puts healthy pressure on your tenants to care for the property. You may use a rental property inspection template to perform this type of inspection. 

• Change of Ownership

Change of ownership inspection happens if you try to sell your property to another person. This inspection ensures that the property is sold for what it’s truly worth. 

How to Perform a Rental Inspection?

If you have chosen to perform your inspection yourself, ensure to edit your checklist to become specific to your property. Here are some tips you may wish to note: 

• Inform Your Tenants Before Scheduling the Inspection

Local laws usually demand that landlords give tenants prior notice days before coming to conduct an inspection. Ensure to consult a lawyer or other legal authority, so you don’t violate this rule. 

• Explain the Reasons for the Inspection to Your Tenant 

It would help if you make your tenant understand that it is in both your interests that you perform the inspection on the property. Ideally, your tenant should be available for the review, so you want to pick a date and time that suits you both. Performing the assessment with the tenant present makes them aware of any deductions from their security deposits resulting from repair costs on time.

• Respect Your Tenant’s Privacy

Refrain from tampering with their items during your inspection. Also, try not to take photos or videos of their valuable items, pets, or personal documents. 

• Avoid Any Form of Confrontation with Your Tenant

It can be upsetting to see damages resulting from neglect on your property. Remain calm and courteous in your approach. Try to express your misgivings in writing rather than verbally. 

Conclusion 

A rental property inspection protects landlords and their assets from risks associated with prolonged wear and tear or tenant misuse. A well-maintained property is easier to sell than one ignored for long periods. You can maintain the value of your property and even get it to appreciate if you take full advantage of inspections

The post Crucial Things to Know About Rental Property Inspection appeared first on Evertise.