Regularly inspecting your rental property will accomplish two important things. First, it will ensure you’re successfully maintaining the home, and protecting its condition. Second, it provides you with an opportunity to ensure your tenants are complying with the terms of your lease agreement. We recommend you have a licensed Realtor inspect your rental property on a quarterly basis. There are a few specific things to note during these inspections.
Rental Inspection Checklist
Documenting all of the work and activity at your investment property is important, so approach your quarterly rental inspections with a detailed one-page checklist. Make notes and take photographs of anything that needs to be fixed or violates your lease. You can use the checklist to document the condition of your property at every inspection. Make sure you have a date stamp and a time stamp when you inspect. At the end of the lease term, this will make it easier for you to differentiate regular wear and tear from tenant damage.
Rental Inspections: What to Check
Check for maintenance that is necessary but hasn’t been reported. Look under every sink to check for leaks or water stains. Look for leaks around the toilet and the appliances, and inspect the caulking. Make sure all of the outlets and lights are working properly, and check the locks on doors and windows. Inspect the condition of the paint and the floors, and take a glance at how things look on the outside of the property as well.
Working with Your Tenants
These inspections can be done with your tenants present or on your own. Be sure to give your tenants plenty of notice before you enter the home to inspect it. Most good tenants don’t mind, and they appreciate that you’re maintaining the property and providing a nice home for them to occupy. The frequency of these inspections should be included in your lease, so tenants know to expect them before they even move into your home.
Look for any lease violations, and address them immediately with your tenants in writing. If your tenants are present while you’re inspecting, talk to them. This is a good opportunity to ensure they’re happy in the property. Retaining good tenants helps your ROI and also leads to a well-maintained home.
If you have any questions about rental property inspections or anything pertaining to property management, please contact us at The Wright Choice Richmond Realty Group