Inspections are a crucial tool in the property management business. In fact, they rank as one of the very best ways to protect your income-earning rental property. Do you want your property to grow in value? Do you want to guard the earning potential for this property? Do you want to maintain a healthy cash flow?  Of course, the answer to all of these questions is a resounding “Yes!”   

Regular inspections – examining the property inside and out to assess its present condition – can do all of that and more. In this two-part series, we‘ll take a detailed look at the ins and outs of rental property inspections.    

The WHY of property inspections    

Reasons to implement a consistent pattern of inspections include— 

• To identify any maintenance issues in a timely fashion so that needed repairs can be made before the concern escalates to a more costly situation.  
• To monitor potential safety hazards that could endanger your residents, damage the property, and increase your liability. 
• To ensure the lease terms are being followed, the tenant keeps the property in good condition, including agreed-upon tenant-required upkeep.   
• To nurture the owner-tenant relationship by demonstrating an interest in the property‘s upkeep, improving both tenant satisfaction and resident retention.  
• To encourage tenant accountability. Knowing that inspections will occur creates checks and balances that urge the tenant toward appropriate housekeeping practices.

 

WHEN should a property owner conduct an inspection?   

• A move-in inspection   

This comprehensive inspection should include the tenant, once a lease has been offered but before his/her move-in. As the entire property is examined—every room, wall, floor, window, door, appliance, faucet, light fixture, window treatment, etc.—the landlord should note pre-existing conditions such as a dent in a wall, a gouged piece of trim, etc.  The resulting report should be signed by both the owner and the tenant, dated, and retained for comparison when the tenant moves out.   

• A move-out inspection  

The landlord should conduct this walk-through examination on the day the tenant moves out. By comparing the property’s present condition with the move-in inspection report, any damage caused by the tenant while living there or during the move-out process can be noted.    

• A routine inspection  

A routine inspection conducted every three to six months can serve multiple purposes:  

1. 1. 1. Ensures that the tenant is maintaining the property  
      2. Determines the need for routine or more extensive maintenance issues 
      3. Corrects tenant behavior or negligence before it results in significant damage

• Drive-by inspection  

This observational type of inspection will focus on yard and landscape concerns and monitor the property for unauthorized pets, long-term guests, accumulating trash, etc.   

Record the findings from all inspections, including detailed notes and photos to document the findings thoroughly.    

Join us for next week’s blog – where we‘ll discuss the HOW of conducting rental property management in Part 2.   

About Rentals America 

Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management and we’re here to help landlords navigate the rental market.