Do you have a great Austin, TX, rental property that you're eager to rent out? The city has seen median income growth of close to 10%, and property values have also skyrocketed, according ot DataUSA.
This makes it perfect for landlords looking to build a long-term rental business. But it also means that you'll have to work harder to keep your tenants in the long run. One way to do this is to ensure you maintain your property at all times.
This can be achieved through frequent rental property inspections. Here's how frequent these inspections should be:
Initial Rental Property Inspections
When your property is vacant, your property inspections frequency can be less as long as you don't have any major issues. Usually, having one inspection every six months should suffice.
If the property inspector notices any issues or potential issues, make sure you tend to them immediately. You can request another inspection after fixing these issues to check if all is well. The professional inspector will ensure your property is fit for human habitation according to state laws.
Rental Property Inspections During Occupancy
You can also conduct rental property inspections while you have a tenant. You should include a clause in your lease agreement that allows you to enter the property for an inspection.
Make sure you hold inspections at a time convenient for your tenant. They can also be present during the inspection. In most cases, one inspection every six months should be sufficient. You can also host one inspection shortly before the tenant leaves.
Your main focus is to ensure that the tenant maintains the property well. The more they do, the lower the need for regular inspections.
One of the best ways to avoid issues with your tenant is to screen them in advance. Look for tenants who have a reputation for maintaining the property.
What to Look for With Rental Property Inspections
Let's end by looking at what you should focus on when conducting an inspection. Here's what you should look at:
- Pet damage
- Leaks, spills, standing water
- Cracks
- Mold and/or asbestos
- Rust
- Broken appliances
- Major stains and dirt
- Excess dust
- Bad smell
- Old paint
This ensures that your property always seems brand new. When hosting an open house, you can expect potential tenants to scrutinize every nook and cranny of your property. Even the slightest damage can be enough to deter them.
Don't be in a rush to find a tenant. Focus on having a thorough inspection and fixing any damage before advertising your property.
Work On Your Property
Now you know the ideal frequency for rental property inspections for your Austin home. Make sure you conduct inspections during vacant times and when you have tenants.
It's always best to hire a professional inspector to look at your property. A property management company can handle this, as well as other crucial tasks for your rental business.
PMI Heart of Texas has been helping landlords with rental property inspections and much more. We're renowned for our prompt services and hands-on approach to your rental property.
