The benefits of home inspections
Home inspections are generally done by the buyer before purchasing a home. Some buyers choose not to do an inspection at all, due to the additional cost. While it might seem like an unnecessary expense, a home inspection can actually save you a substantial amount of money. The home may seem like it’s in excellent shape, but unless you’re a trained professional, you won’t know what to look for and are sure to miss something important.
Contrary to popular belief, home inspections are not just for people buying a new home. If you own a rental home, home inspections are something you should consider.
Why should I do a rental home inspection?
There are many reasons you should do a rental home inspection, the most important of which is to ensure the safety of your tenants and their family. Structural decay can make floors and decks unsafe, while more insidious problems like mold may crop up, putting your tenants’ health at risk. If the home is older and hasn’t been inspected in a while (or ever), conducting an inspection should be a priority.
Another key reason to do a rental home inspection is to protect the value of your investment. Tenants may not know, or care, about areas of the home that need maintenance. An inspection will make you aware of the problems before they get out of hand so that you can easily repair them and maintain the value of your home.
When should I get an inspection?
The ‘when’ and ‘how often’ of a rental home inspection depends on many factors, such as:
- How long it’s been since the last inspection. If it’s been at least a few years since the last time you had an inspection, it’s probably time to invest in another one. If you’ve never had it inspected, book an inspection as soon as possible.
- The age of the home. Older homes should be inspected frequently, as problems can come up with very little notice. Though it may have been built to code originally, it may not be meeting safety criteria today.
- The type of home. Homes with basements should be inspected more often, as they are susceptible to moisture damage.
- The location of the property. If the climate is extreme or very humid, you’ll need to conduct inspections regularly.
- How often the tenants change. You should conduct an inspection each time a tenant leaves so that you can make necessary maintenance repairs before letting it to new tenants.
In general, it is best practice to conduct a rental home inspection annually. If the property is brand-new, you may be able to stretch it to every two or three years. However, an annual inspection can help build trust between you and your tenants, making it a good choice for all rental properties.
Working with Checkmark Plus
At Checkmark Plus, we have the education, experience and expertise to conduct thorough home inspections in New Jersey and New York. Contact us today to get your rental home property inspected.