Do you own one of the many rental properties in Salt Lake City, Utah? If so, it's going to be very important for you to keep it in excellent shape.
Rental properties are real estate investments that should help you turn a profit over time. But it's going to be difficult to do this if your rental property is in a state of disrepair.
Performing regular rental property inspections is one easy way to make sure your properties are in great condition. There are a few different kinds of rental property inspections you can carry out.
Here are a few types of rental property inspections you should be familiar with when you own rental properties.
When a new tenant is first moving into your rental property, you should make it a point to be there for a move-in inspection. Move-in inspections are rental property inspections that'll help you see what kind of condition a rental is in before someone starts living in it.
This kind of inspection will be beneficial for both you and your tenant. The tenant won't have to worry about you blaming them for any damage that exists in a rental property when they first move into it. And you won't have to worry about a tenant trying to tell you that they didn't damage something in your rental later when you have documentation that says otherwise.
Before a new tenant puts a single moving box inside your rental property, you should perform a move-in inspection with them. This should include taking photos of your rental and writing down any damage that exists at this time.
Oftentimes, those who own rental properties will avoid performing routine inspections for whatever reason. But you should make it your mission to inspect your rental property every so often if you can.
You will need to give your tenant about 24 hours notice prior to performing a routine inspection. It'll give them time to prepare for your arrival.
You should know you have the right to inspect a rental property whenever you would like. It'll give you an opportunity to see if there are any repairs that need to be made that a tenant hasn't told you about yet.
When you rent out a rental property to a tenant, you'll typically collect a security deposit from them. You'll need to send this security deposit back to them when they move out but not until a move-out inspection has been done.
During move-out inspections, those who own rental properties can see if a tenant caused any damage. If they did, they can then claim a portion of their security deposit to cover the repairs that need to be made.
Just like with a move-in inspection, you should walk through your rental property with a tenant so that you can talk about any issues you see with them. You'll be able to refer back to the photos and notes you took during your move-in inspection to see which damages they may be responsible for.
We Can Help You Perform Rental Property Inspections
If you own a rental property in Salt Lake City but don't live in the area, you might not be able to carry out rental property inspections. But that doesn't mean you should just write off the idea of doing them altogether.
Maxfield Property Management can take care of rental property inspections when you choose us to serve as your property management company. Contact us now to get more information on our services.