Are you a rental property owner?
If so, then you understand that investing in commercial real estate is a great way to build wealth for retirement. It can also be rather stressful. After all, routine maintenance on a rental property can sometimes feel like a full-time job, and yet you can't afford to let proper upkeep fall by the wayside.
The key is to take the time for regular home inspections. This helps to ensure that your rental units remain in the best condition possible. But is it really necessary to hire a home inspector? Here we take a look at why home inspections are such a vital part of rental property upkeep. Keep reading to learn more.
Home Inspection vs Valuation
Let's start by discussing the difference between a home inspection and getting a valuation by a bank valuer or estate agent.
The key thing to understand is the fact that a home valuation is intended to provide an approximate indication of the market value of a particular property. A home inspection, on the other hand, provides a detailed analysis of the overall condition of the property.
What Is Included In a Home Inspection?
A home inspection of rental property should include an examination of every aspect of the home. For example, it will contain an analysis of the walls, floors, ceilings, doors, windows, cupboards, roof, plumbing, electrical, gas, visible portions of the foundations, and exterior features, such as swimming pools and boundary walls.
What are the Benefits of Regular Inspections
There are several benefits of hiring a home inspector for your property.
They will be able to reveal potential problems so that you can make repairs before the problems worsen to the point of requiring expensive repairs. A home inspector can also identify potential safety issues that could lead to tenant injuries.
An experienced inspector can also prevent future legal complications between the property owner and your tenants. This is especially true when it comes to identifying issues with the electrical systems, fire hazards, and other types of dangers on the property that need to be repaired or replaced.
How Often Is an Inspection Necessary?
When it comes to hiring a home inspector to provide an analysis of your rental property, there are no hard and fast rules. But the best way to ensure that your property remains in good condition is to plan to have an inspection at least once every 3 to 5 years.
A Guide to Benefits of Regular Home Inspections
It's no secret that real estate is a major investment that requires a lot of maintenance in order to boost property value. Fortunately, this guide to the benefits of regular home inspections will help ensure that small maintenance problems won't get out of hand.
Please contact us today to learn how we can make the process of managing your rental property in Kissimmee as stress-free as possible