One of the most challenging jobs of investing in rental property is that you usually butt heads with your tenants when it comes to who should be liable for damages and their corresponding repair needs. To prevent a simple misunderstanding or a severe conflict, you want to invest in rental property inspections.
You never can deny the fact that you want to rid yourself of the responsibility for any damage to your property, and the same thing holds true for the tenants’ sentiments. However, you have no choice but to face the music eventually. Rental house inspections Melbourne are a necessity when moving in, moving out, as well as in the renewal and renegotiating of a lease.
Even if you choose to tap the services of a property manager or agent for your property, the decision to pay for rental house inspections Melbourne will prove invaluable as it states the condition of the property not just before being rented out but also before it becomes the responsibility of the property manager you hired.
You can call an inspection report an excellent one when it contains an account of the following:
-Marks and stains on the walls
-Nails in the walls
-Defects and defaults
-The condition of the fittings and house features
-Photo evidence of the faults
-The general shape of the property
Taking photos is necessary, but each captured image must have a written description. The thing is, photo evidence is impossible to dispute or contradict, and it is a necessity in a situation like a rental property agreement. Be reminded though that you might encounter tenants who readily accept small faults, provided those faults do not affect their level of comfort once they move in. Nonetheless, the rental house inspection will document every detail, the purpose of which is to come up with the most accurate inspection report possible. An integral part of your responsibility as a landlord is to be as honest and transparent as possible.
The great thing about a rental agreement is that it includes a responsibility clause where repairs if needed, are discussed to the desired detail as to who is financially responsible. Typically, it specifies that tenants have to inform the landlord or the property manager about issues that come up in the middle or within the lease period. There is then a provision for time and opportunity for the owner of the property to perform the repairs. If the landlord or property manager does not have an idea of an issue or damage, the liability for the repair costs falls on the tenant even if it is not his or her fault. If the home inspection report showed no issues with what needs the repair, the tenant might be accountable. The report will prove its value as a deciding factor in determining who is responsible.
Bear in mind, though, that in a rental property, you can expect wear and tear. However, conducting an inspection and furnishing the report is crucial as a starting point in establishing the property’s aesthetic and structural integrity. It makes the inspection report an invaluable asset to rental transactions.