Property inspections are a key part of owning a rental. Failing to properly check on your Denver rental home can cost you big, while doing so can help catch issues before they get out of hand. Knowing when to inspect and what types of inspections need to be done can help keep your rental home in tip-top condition as well as prepare you for potential pitfalls that may arise during and after the current lease. And if you don’t have the time to do so, hiring the right property management company like Real Property Management Colorado is a great solution!
Proper documentation of your Denver rental before a tenant moves in is a must. Not only will this help ensure your home is 100% ready for your new tenants, doing so can also help when it comes time to process their security deposit. Make sure to take pictures of any pre-existing damage (whether with your new tenant or one your own) and document in writing the condition in which the property was turned over to your new tenants. Remember over documentation is better than under-documentation! Having records and photo evidence of the pre-existing condition can help you determine what damages may have occurred when your tenants move out as well as help with any legal disputes that may arise concerning damages or the condition.
Make sure to also give your tenants the chance to provide their own inspection by providing them with a move-in inspection checklist that they can return to you within a given timeline. You can choose to complete the inspection with them or have them complete it on their own.
Checking in on your Denver rental throughout the term of the lease is another inspection type to add to your list. Routine inspections throughout the term of your lease are a great way to make sure your tenants are complying with the terms of the agreement and not damaging the rental beyond normal wear and tear. They’re also a great way to stay on top of any maintenance issues that need tending to and complete any preventative maintenance tasks, such as changing out the furnace filter, checking for leaks underneath the sinks, and more.
Create an inspection schedule, taking note of any season maintenance items should be done so you can show up prepared, and set calendar reminders so you don’t forget!
Documentation after a tenant moves out is just as important as before they move in, so make sure to schedule a move-out inspection immediately after your tenant hands over possession. Doing so when the property is 100% vacant is best, as this will allow you to see everything without any of the tenant’s belongings in the home. That way you can make sure not to miss any damage that may be hidden behind furniture, under area rugs, etc. A thorough and proper move-out inspection to compare to your move-in inspection will allow you to process the tenant’s security deposit with confidence and help should any legal disputes over damages arise. Think of it as a before and after snap shot of your rental!
As your biggest asset, you want to make sure your Denver rental is well-maintained and cared for. Completing the proper inspections before, during, and after your lease is one way to ensure that it stays that way. But what if you just don’t have the time to do so? What if you’re out of state and don’t have the ability to do so? Or what if you just don’t want to spend the time to manage your Denver rental on your own? Real Property Management Colorado can help with that! Give us a call at 303-873-RENT (7368) or contact us today!