A rental home inspection can preserve the value of your investment, while simultaneously ensuring the safety of your tenants. But how often do you need to inspect your rental home?
A variety of problems can arise if the rental home is not inspected before new tenants move in. Some common issues you might encounter are:
- Damages from the previous tenant
- Faulty plumbing
- Decaying foundation
- Inadequate flooring
- Outdated wiring and electrical
It’s crucial to think about your rental home inspection not only as a preventative measure to avoid spending money on future repairs, but also as a necessary safety precaution. Emergency expenses can arise if problems are left undetected for too long. Some things that might seem unimportant (rusty nails, for example) can cause part of your structure to collapse, leading to serious harm to those inside.
However, it’s important to keep in mind that the older the rental property, the more frequent the inspections should be. Older buildings are prone to decay when they have not been inspected for several years, or even decades.
Although older properties usually adhere to outdated safety measures, you may still be held liable for neglect, whether intentional or not. Regardless of who is legally responsible, taking the matter into your own hands will guarantee that you are not held accountable for any damages that might ensue. Prioritizing inspections on older properties is always money well-spent.
When to inspect your rental home:
- Each time the property comes up for re-rental before the current tenant moves out and prior to the new tenant moving in
- Before planning a major renovation project
- In preparation for changing seasons or severe weather
Don’t forget to notify your tenant if you’re planning to enter their unit for an inspection, ideally no less than 48 hours in advance.
Failing to inspect on a regular basis is a gamble most managers can’t afford to lose. Being proactive with your rental property inspections is the best way to ensure that you are not caught off guard in the event of emergency maintenance.