The Importance of Rental Property Inspections
Professional property managers such as Martin Feinberg handle many different tasks for investment property owners. Some duties, such as collecting rent, must be dealt with every month. The timing on other tasks is not always easily apparent though. One responsibility that needs to happen frequently is rental property inspections.
Reliable property managers will regularly inspect the rental properties they oversee. Rental property inspections need to be frequent enough that potential problems don’t go unnoticed, but not too frequently so as to not harm the relationship with tenants. So the question is, how often should a rental property actually be inspected?
When A Tenant Moves In
Those inspections, which take place when a tenant takes up residency in a rental property, are typically known as move-in inspections. Move-in inspections should be done with every new tenant in order to document any issues with the property. Some property managers will document a move-in inspection on paper while others may perform a mobile inspection. Mobil inspections, typically using a smartphone and accompanied by voice dictation, can be an easy way to document the state of the property.
When A Tenant Moves Out
These are usually called move-out inspection. Move-out inspections are done when a tenant is moving out of a rental unit. These inspections help determine the condition of the property when the tenant leaves. Tenants tend to take better care of rental units when they know they will be held accountable for the state of the property when they go.
When Checking Maintenance Needs
One of the most frequent jobs of a good property manager is conducting routine maintenance checks. Routine maintenance checks help prevent investment properties from being devalued by untreated problems. They are also a great way to keep tenants satisfied and keep tenant turnover low.
During a routine maintenance inspection, property managers may check the safety and security of the tenants, the overall cleanliness of the property, mold in the kitchens and bathrooms, appliances, and if the heating and cooling systems are working properly, among other things.
When Checking for Unauthorized Tenants
An unauthorized occupant is any person living in a rental unit without a legal tenancy, usually because they are not on the lease. Unauthorized tenants are common, but they can be a difficult issue to deal with and incredibly difficult to evict should that become necessary. Property inspections looking for unauthorized tenants can help keep potential legal issues at bay.
Overall, rental property inspections are an important aspect of professional property management. A five-minute inspection can be the difference between a profitable rental property and significant expenses down the road.