A terrible tenant or two can turn your real estate nest egg and passive income retirement dream into a nightmare. Fortunately, there are ways to protect yourself against this scenario.
It's easier than you think. Read on to learn more about how rental property inspections ensure your property does not fall victim to bad renters.
Why Do Rental Property Inspections?
It's important to keep tabs on your property. Whether it's before, during, or after a tenant is living in the unit, you have the right to conduct a rental property inspection. Periodically conducting these can save you money in the end.
First, it lets the renter know that you will be present from time to time. This can stop an angry renter from destroying your property out of spite and may end a dispute before it begins.
Many renters welcome inspections. It gives them the chance to point out some issues with the rental and ask for repairs. Sometimes the tenant's warning can save you money and stop a small problem from becoming a disaster.
Finally, it allows you to gauge if you should extend a lease or not to a renter. It's good practice to always conduct a rental property inspection if a tenant desires a lease extension.
Rental Property Inspection Tips
Make sure you give your tenant prior notice and explain the purpose of the visit. If you aren't sure of the laws in your area, consult a local attorney. This is especially true if the tenant tries to evade your attempts to contact them.
After contacting your tenant, let them know that they should be present during the inspection. With them present, it's easy to let them know what repairs they are responsible for before the lease is ended.
Make sure you are professional, cordial, and respect their privacy. If you have to take photos of any damage, make sure there are no personal items in the photos. If you follow these guidelines, then the tenant may be more cooperative if they feel respected.
Develop a detailed checklist for the inspection. Share this with your tenant before the walkthrough. This will save you time and let the tenant know exactly what will happen. If you are having trouble developing a thorough checklist, contact a property manager for advice.
Preserving Your Property's Value
It's never a bad idea to hire a property manager to help you manage your rentals. While there are management fees, the peace of mind and decreased stress is well worth it.
At Utah Property Solutions, we can help you with much more than conducting rental property inspections. We also fill vacancies, process applications, run background checks, collect rent, and coordinate repairs.
If you're still on the fence about finding help for your growing number of rentals, please don't hesitate to contact us to learn more details about our professional property management services.