Property inspections are a necessary but time-consuming part of owning a rental property. The inspections help to ensure that your property is being taken care of and that it is ready for habitation. Inspections can let you know if there are issues with the way the tenants are treating the property or if there are issues that need to be fixed. They are an important part of finding and keeping good residents. You may not have realized just how many different types of inspections there are or when they should be conducted. Take a look at the list below to learn more.
Before a property is leased, whether it is a residential home or a commercial building, it should undergo an inspection. The inspection should be thorough, and you will want to have a list of the things you find that are wrong with the property. Perhaps some items need to be repaired. Maybe the interior should be painted before offering the property or it might need to have a more thorough cleaning. It is also a time to look to see if any upgrades or renovations might be needed. This could include updating the appliances or changing out the cabinets, for example.
Often, making upgrades and repairs will be beneficial before showing the property to potential renters. It can garner a higher rental price depending on the location, and it can make more people interested in renting.
Right before the new tenant receives their keys, the move-in inspection occurs. It’s during this inspection that the tenant and the landlord or property management company agree on any preexisting problems or issues with the property. It will include a thorough tour of the property, both inside and outside. Any issues with the property pointed out by the new residents or the landlord will be noted and photographed. It also shows the tenants how clean the unit is at the time of move-in, which informs them of the condition the place should be when they move out.
The move-in inspection will protect the property owner and the tenants from any future liabilities. You do not want to skip this or any of the other inspections.
A mid-lease inspection is important for several reasons. First, it helps to keep the tenants accountable for the condition of the property and to ensure they are following the rules and the regulations. For example, if you have a no-smoking property or you don’t allow pets, it’s better to find out and correct the issue during the middle of the lease rather than at the end.
A mid-lease inspection will, as the name suggests, often be in the middle of the lease. Therefore, if someone signs a two-year lease, the inspection would be at the one-year mark. If they sign a one-year lease, it would be around the six-month mark. Just like all of the inspections, photos should be taken. These photos can be used to prove that the tenants caused damage to the property.
The renters should realize that the inspection is not about a lack of trust. It’s about keeping the property in the best condition possible. If there are issues, they can be fixed for the tenants, which will make the home more livable for them.
When the tenants are getting ready to move out of the property at the end of their lease, another inspection needs to be conducted. This will ensure that the property is in good condition after the occupants have left the property, or when they are about to leave. The inspection will follow a similar flow to the move-in inspection, and the same areas will be covered. The notes and photos taken at the start of the lease will be important as comparison tools.
If there are damages, they should be noted, as should the need for any improvements or upgrades that might need to be made. If there needs to be additional cleaning, as is often the case, this will be noted now, as well. It’s then time to determine whether the tenant is responsible for any of the issues and to take the money from the security deposit or to bill them.=
Periodic Owner-Requested Inspections
In some cases, you might want to have a periodic inspection that doesn’t fall into the timeframe of the mid-tenancy inspection. There could be many reasons for this. You might be concerned about your property for one reason or another and want to check up on it. Of course, you can’t just show up out of the blue, and neither can a property management company. The laws need to be followed, and any random inspection needs to be preceded by providing the tenants with proper notice. This is typically 24 to 48 hours.
These types of inspections shouldn’t happen too often. It can upset the tenants, especially if they have not done anything wrong and the home is still in great condition. Too many of these random inspections and the tenants might move at the end of their lease.
If the property is in a community with a homeowners association, all of their rules and regulations must be followed. Failure to do so could lead to fines. There are also often clauses and timeframes on making required repairs and replacements. Ensuring that everything is up to the HOA standards is important, but it is often difficult for most landlords to do. Our team has plenty of experience with these sorts of inspections, as well as the others on the list.
Make Inspections Easier with a Property Management Company
When you choose to work with a property management company like Faranesh Real Estate and Property Management, you won’t have to worry about inspections. We can conduct all of the required inspections for you, not to mention handle all of the other aspects of being a landlord. This includes marketing and finding tenants, background inspections, rent collection, and more. Get in touch with us today to learn more about how we can help. We also offer property management in Henderson NV.