Around 35% of people living in Colorado are renting their homes. It's a great time to be a rental property owner, for sure. But there's always a little bit of risk involved when you own this kind of investment.
Since you're not there all the time, there's no way of knowing what condition the home is in at all times. The best thing you can do is perform regular rental property inspections. This allows you to find any problems so you can fix them. Whether they are routine maintenance or issues caused by the tenant.
Knowing how often to have inspections for your rental properties can be tricky. You don't want to go too often but also not often enough. Check out this guide for everything you need to know about inspecting rental properties in Denver!
Signs It's Time for an Inspection
As soon as you get your first tenant in place, it's a good idea to set an inspection schedule. This way you both know what to expect. Generally, once or twice a year will be sufficient.
But there will be times when you should do additional inspections.
Those should happen when there seem to be a lot of calls for maintenance from the tenant. Also when they aren't paying rent regularly or if you get reports from neighbors.
Steps to Take Before the Inspection
Before an inspection by the landlord, it's helpful to keep communication open with the tenant. This way no one is surprised by the appointment and everyone is available.
You'll also want to double-check the rental property inspection laws to make sure you're compliant. Everything is much smoother when you follow the right procedures.
Things to Look for During an Inspection
The dream of every landlord is to always have amazing tenants. Unfortunately, that's not always the case and sometimes you'll have tenants who cause damage to your property.
When you complete a landlord inspection, you should focus on common damage areas. Things like appliances, doors, and walls commonly have issues. But it's also important to look for more hidden damage, like floors under furniture.
Action to Take After the Inspection
Once you've completed the inspection, it's time to act on the things you've found. Hopefully, the only issues were regular maintenance items you were planning on anyway. But if not, it's a good idea to get these things done as quickly as possible. This way nothing spreads and the problems don't get worse.
Everything to Know About Rental Property Inspections
A key to having a successful rental property is keeping it in the best shape possible. This allows you to charge top-dollar for rent and make the most profits.
Rental property inspections are a great way to make sure your property is well taken care of all the time.
Having property management also makes this process much easier for you. Our team will handle everything for the inspections, from scheduling to completion. Contact us today to see all the ways we can make your rental as successful as possible.