Did you know that rental property maintenance will cost about 1% of the property value per year? Setting aside money to cover repairs and damages is important for landlords.
However, there are some cases where you can charge tenants for damages that they cause. To do this successfully, you'll need to schedule regular rental property inspections.
Keep reading to learn the importance of a rental property inspection.
Determines Property Condition
Rental property inspections help landlords determine the condition of their property. Inspections are still necessary if you rent to responsible tenants and hire a property management company.
Inspections help landlords maintain livable conditions for renters. You'll be able to find hidden issues that you wouldn't find without an inspection.
It's normal to see wear and tear in older properties. But, urgent issues can arise that need immediate repairs.
Detects Damages
A rental property inspection can detect damages before and after a renter moves out. There are renters out there who don't take care of the property they live in. This leaves the landlord to clean up the mess.
An inspection allows you to find damage and take note of it before renting the unit out to a new person.
You should also have new renters fill out a damage document when they first move in. This will give landlords a record of damages to compare to when a renter moves out.
Ensures Tenants Are Following the Rules
Washington, D.C. rental property inspections can ensure that tenants are following the conditions in their lease agreement. In every agreement, there should be a clause that states tenants must take care of the property.
You can also include a clause that details how repairs are paid for once the tenant moves out. This is where damage documents will come in handy.
This is also a great way to better communication between you and your tenants. Tenants can assert their needs while landlords reiterate property rules.
Both parties working together go a long way in improving the property. During inspections, continue open communication to fix problems fast.
Upholds Insurance
Property inspections in Washington, D.C. are necessary for upholding insurance. If you want to protect your rental investment, it's important to have a policy in place that covers damages.
More often than not, an insurance policy will require that you schedule regular building inspections.
If you fail to follow this condition, your policy may become invalid. Professional property managers can handle these inspections and issue certificates as proof for your insurance company.
Schedule Rental Property Inspections Now
Landlords have a responsibility to provide livable conditions for their tenants. To ensure you are upholding that responsibility, you need to complete regular rental property inspections.
Doing so determines property conditions, detects damages, ensures tenants are following the rules, and upholds insurance.
Scheduling and completing inspections is a time-consuming task. With the right rental property management company, you won't have to do it alone. Contact us today to get started with a professional team.
