Few of us would hand over something valuable to a stranger. If we did, there is almost zero chance that we would hand it over and not check whether that person is looking after it.
Yet, if you fail to conduct a property inspection, that's precisely what you do with your most expensive assets: your real estate portfolio.
Learn about the ins and outs of rental property inspections in Nashville, TN.
Check Local State Laws
Inspections must follow the law and protect a tenant's privacy. If you fail to check Tennessee state law before inspecting a property, you could face legal action from your tenant or penalties and fines.
State law will dictate the frequency and manner of property inspections and outline the notice you need to give your tenant.
Tennessee law stipulates that you only need to give notice for inspections for showings for new tenants when a lease agreement is nearing the end.
You Need to Consider Your Long-Term Relationship With Your Tenant
Inspections ensure the property is safe and habitable for tenants. So, as a landlord, you have a duty to check a property.
Nevertheless, you should be mindful of the impact on tenants. That means being as reasonable and accommodating as possible. And always respect their privacy.
For example, someone who works nights may need inspection hours that are different from what you usually arrange with tenants.
Maintain excellent communication with tenants at all times.
For example, provide written information about an upcoming inspection, including the date and time. It will help prevent minor concerns or confusion from spiraling into complaints.
Use Documentation
Always document your inspections to keep things organized. That should include your inspection schedule. You'll want to note information on the property, date, and contractor (if applicable).
You will also need to document what you find during the inspection. Aim to include photographs for anything better shown via picture than a written description.
This documentation is crucial if you need it later, like during an eviction process or when returning a security deposit.
Prioritize Your Inspection
If you are short on time, focus on safety and critical maintenance issues.
If ignored, these could cost you the most. Check any fire alarms, smoke detectors, and carbon monoxide detectors.
Check for leaks in the building, and hire a professional electrician to inspect any wiring or other electrical issues. Any issue in these categories should be treated as an emergency repair.
Show Your Findings to Tenants
Open communication means being transparent. If you find issues with the property, show them to the tenant. If they are your responsibility to fix, suggest a timeline and make sure your tenant is happy.
Likewise, if it's a tenant issue, like a poor property condition, agree to a reasonable deadline for resolving it.
Rental Property Inspections: Protecting Your Investment
Rental property inspections are beneficial to you and your investment. They are also valuable to the tenant. But it's essential to abide by the law and do your best to work with your tenant to schedule these checks.
Evernest Property Management can take the hassle of inspections off your hands in Nashville, TN. Our experienced team has a streamlined process for this and the rest of our property management package. Find out more here.