One of the most important considerations within real estate investment management is property inspections. Retaining value for your rental property investment means keeping the property itself up to a high standard, and the right inspections make sure this isn’t being interrupted by negative tenant practices.
At Americas Housing Alliance, we’ll help with conducting all standard inspections, plus keep detailed documentation of any maintenance required to keep your valuation up. Here are the four most common inspections during a rental process.
This is the most important inspection, because it sets the baseline for the property’s state. The tenant can look at everything in the property and make notes of any imperfections, something you should do as well – any issues that arise after this will be considered their responsibility. Make sure you document this process carefully, and include any special caveats in the lease in very clear language so there’s no ambiguity later on.
Every few months, an inspection will be scheduled for basic safety and simple cleanliness issues. Tenants must be given proper notice of at least 24 hours before these inspections, otherwise you can face some harsh issues with your lease. Just like with the move-in inspection, carefully document any issues you find during these basic inspections. You’re mostly looking for any larger property damage that’s occurred since the original inspection.
These don’t have to be scheduled, and they don’t necessarily have to take place at any standard interval. Many landlords only conduct a drive-by inspection if they have problem tenants in a property, just to make sure there are no visible issues that might signal a problem.
At the move-out inspection, you take your final look at the differences between the move-in inspection and the time that’s passed since then. Keep the move-in sheet handy, and move through areas with the tenant. The tenant must be present – this covers you against any claims they make that they weren’t responsible for the damage. If there are major issues, the tenant will be responsible through part or all of their security deposit.
Interested in learning more about rental inspections, or finding out about any of our real estate investment solutions? The experts at Americas Housing Alliance are standing by to assist you.