As a landlord, when was the last time you thought about your property's water heaters or HVAC systems? Have you checked their smoke detectors recently or evaluated the area for pests? These are just a few of the common problem areas landlords need to stay on top of.
The best way to stay ahead of the curve is through regular rental property inspections. This involves either visiting the property yourself or hiring a representative to assess the building.
Here's why inspections matter in Lake Havasu and what your rental property inspection timeline should look like.
Why Rental Property Inspections Matter
First, you should understand why rental property inspections matter.
It's easy for landlords to think that a security deposit is all they need to protect their investment. After all, that money is meant to cover repairs for damage caused by a renter.
However, your renter isn't the only source of potential damage. In fact, the landlord is expected to help maintain the property as part of their job. This may mean addressing noise complaints or hiring repairmen.
A rental property inspection checklist allows you to keep tabs on the property, which will help you track rental valuation.
Rental Property Inspection Frequency
A rental property inspection timeline should look the same every time.
The landlord will want to inspect their property when a tenant moves out and right before a new one moves in. This is so they can document the condition of the property and if the previous tenant owes them any money for repairs.
Once the tenant has become situated, the landlord should do periodic inspections every few months. That includes seasonal inspections as well as if there are any specific concerns. Otherwise, they can also wait until the lease is renewed.
You can use property management software to keep track of your different properties and when they need an inspection. The same software can notify tenants of any problem areas and how they can fix them.
Rental Property Inspection Laws
It's important to keep in mind your limits as a landlord when doing rental property inspections.
For example, security deposits can be used to repair damage caused by a tenant. However, they cannot be used on areas of the property that the landlord is responsible for repairing.
When it comes to inspections while the tenant is currently living on the property, the landlord must give due notice. The only time they can break this rule is during an emergency.
Keep Your Lake Havasu Property In Top Condition
Rental property inspections are some of those tasks that aren't exactly fun to do. However, they're essential if you want to maintain your property's value and hold your tenants accountable. It'll also help keep you out of hot water if something breaks and you need to fix it.
PMI Lake Havasu provides property management services for Lake Havasu and its surrounding communities. Our services cover residential properties, short-term rentals, and more. Reach out today to schedule a consultation and tell us about your needs.
