Rental Property Inspection – The Ultimate Checklist

Use this handy checklist to help you with your next rental property inspection.

Stocking key elements for vacation rentals. If you’re renting property for vacationers, make sure that each room has the essentials. This should include clean towels in the bathroom and small toiletries if you choose to provide them. Ensure all kitchen appliances are in working order and that the kitchen is stocked with pots, pans, silverware, dishes, and glasses. Make the bed with clean linens, including clean sheets, pillows, pillowcases, and blankets.

Additional elements to inspect. When performing a rental property inspection, don’t forget to check some additional items that pertain to the building as a whole. These items may affect the rate of insurance for rental properties. Look at the climate control system and make sure it’s working the way it should be. You should also confirm that there is an independent entrance and exit if you rent a multi-unit building. Do a check of the electrical installations in the building and the walls and ceilings just to ensure that everything looks to be in proper condition.

Safety items checklist. Don’t forget a few essential safety items, including verifying that the property has a working smoke detector and carbon monoxide detector. The kitchen should have at least one working fire extinguisher. A first aid kit isn’t mandatory for every unit, but having a fully stocked kit at the front desk or the main office is advisable. Finally, provide all of your tenants with an emergency number in case they need urgent help after hours.

Financial and legal checklist. Renting property as a means of investment requires sound financial knowledge. Ensure you keep all documentation in order and talk to a professional financial advisor about things like your rental property taxes and your monthly and annual profit. It’s also a good idea to consult with a lawyer who can put together a legal checklist so that you’re within the confines of your state and local laws regarding landlord and tenant relationships.

Insurance aspects of renting a property. Make sure that you have the right type of insurance coverage when renting a property. Unlike homeowner’s insurance, you will need to obtain a good landlord insurance policy. This policy will protect you and your property in the event of a fire, natural disaster, or another emergency. Most rental property insurance plans also cover some level of liability if your tenant becomes injured while living in your property. Talk to a professional insurance agent who can guide you through the ins and outs of this type of insurance.

Rental property inspections are an essential part of owning and renting your property to tenants and guests. Remember to do a move-in inspection before a tenant moves in, and feel free to perform quarterly inspections as needed. Move-out inspections are always highly recommended to protect your investment and make necessary repairs before a new tenant moves in. Re-inspections might be required if you are concerned about your property, so don’t hesitate to talk with your tenant and schedule them if you think you need to. Overall, performing a thorough rental property inspection is a smart way to protect you, your investment, and your tenants.

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Jason Gwerder
Thursday, 30 September 2021

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