Are you looking to invest in a rental property in Ewing, NJ? It's a great opportunity to create an asset that'll hopefully bring in a lucrative income.
However, before you start thinking of how you'll spend your fortune, there are a few housekeeping rules. As a landlord, you have several responsibilities towards your property and tenants.
One responsibility is to attend to any property damage. If there's any issue, it must be fixed immediately. Even better is to prevent any issues from arising.
Here's what you should know about rental property inspections:
What Are Rental Property Inspections for?
Rental property inspections are a thorough analysis of a property's condition. The rental property checklist includes the requirement to look for any damage, hazards, faults, etc. These inspections are crucial if you want to run a successful rental business.
If there's an issue with your rental property, you must fix it immediately. Neglecting it leads to decay and if you have a tenant, you might be violating your landlord obligations.
When your property is vacant, you can hire a rental property inspector as often as you wish. If you maintain your property well, then it's unlikely you'll need to conduct one more than two or three times per year.
Rental Property Inspections With Tenants
Make sure you give an inspection notice to tenants at least 24 hours before entering the property. Your lease agreement should include a clause that states that you'll come in on occasion for an inspection. The best tenants will appreciate that you're making an effort to keep the property maintained.
At a minimum, you should have a move-in inspection and move-out inspection. The former can occur no more than a week before your tenant moves in. The latter should occur within the week that your tenant leaves.
You can consider having inspections during the tenant's stay at your property. If they have a one-year lease, you can conduct one or two inspections. It's best to have one at the six-month mark and another at the nine-month mark.
You can conduct more inspections, though you should proceed with caution. Too many rental property inspections can make your tenant uncomfortable. They might feel that you're invading their privacy. They might also feel that you don't trust them. This could lead them to forgo renewing their lease.
Your main focus should be to be transparent with your tenants. Let them know what you expect with regards to property maintenance. If both you and your tenants look after the property, there won't be a need for constant inspections.
Look After Your Property
You can now schedule rental property inspections according to what's best for you and your tenants.
Property inspections are crucial for keeping an eye out for any potential problems with your home. They're needed to hold you and your tenants accountable. You can hire a property manager to help arrange for these inspections.
PMI Essential is here to help Ewing landlords like you. We've been part of the property management industry for over 20 years and are looking forward to helping you.
Contact us to learn more.
