The average studio apartment in Raleigh, NC, rents for $1,331 a month. Of course, some rent for lower or higher prices.
The best way to determine how much to charge is through rental property inspections.
Conducting these inspections can help you set rental amounts. However, they're also helpful for other purposes.
Keep reading to learn how often you should complete rental property inspections.
When Tenants Move-In and Move-Out
There are two primary times you must complete inspections. The first is when a tenant moves out of a property.
When tenants move out, inspecting a property is necessary for preparing the unit. A unit will need some work before the next tenant signs their lease agreement and moves in.
When inspecting the property, analyze its condition thoroughly. Write a list of what the unit needs and get to work.
It may need normal things, such as cleaning and painting. It might also be time to update the cabinets or plumbing fixtures.
Secondly, inspect the unit again when someone moves into it. When you give your new tenant the apartment keys, walk through it with them.
During this inspection, you might see additional things the apartment needs. Write them down and note the lease agreement. Then, handle the repairs and updates it needs.
Annually
Completing the inspection process annually is also helpful. You might have tenants who have lived in their units for many years. If you only inspect units when tenants move out, you might skip these units for years.
Additionally, tenants might feel pleased to have these inspections. It shows you care. As a result, they might be more apt to renew their leases for another year.
Use a checklist when completing annual inspections. A checklist helps you cover all areas of the unit. It also helps you keep up with routine updates and maintenance the apartments need.
For Problems
You may also choose to inspect the units when you suspect problems. For example, you might receive complaints from other tenants about a particular tenant.
This tenant might have pets that are being noisy or causing damage. The tenant might have a bad odor coming from their unit.
You'll only detect signs of damage if you schedule an inspection. This is also the only way you can determine the condition of a property.
Contact the tenant when you need to check an apartment due to complaints. Let them know you received complaints and need to schedule an inspection.
Make sure you follow landlord-tenant laws in your state when handling these. If you have questions about the laws, talk to a property manager.
Complete Routine Rental Property Inspections
Completing routine rental property inspections is wise if you're a landlord. You can follow the tips listed here to determine how often to do them.
You can also hire us to handle them for you.
PMI Triangle is a property management company you can trust. We are locally owned and operated and offer full-service property management services.
You can talk directly to a property manager with our services. Reach out to learn more about how we can help.
