New Jersey has one of the most booming real estate markets in the country. That is great for property owners, but it also means increased competition. Landlords must do everything possible to put their best foot forward while protecting their interests.
Property inspections are a major part of this. How frequently they should be done depends on many different factors.
This article explains how often you should carry out rental property inspections in Mt. Laurel, NJ. Keep reading for some basic practices that will protect your property and interests.
Why Conduct Rental Property Inspections?
First, it is important to understand the reasoning behind property inspections. A major one is to identify damage to the property or other causes for repair. This includes damage done by tenants, but also from pests, weather, or regular wear and tear.
Another reason to do rental property inspections is for safety. It is important to have a landlord inspection checklist for things like smoke detectors and fire extinguishers.
Staying on top of necessary repairs or upgrades is good for property owners and renters alike. It allows you to catch minor issues before they become major ones.
It also ensures that tenants are residing in safe, habitable conditions. This has the potential to increase their satisfaction.
Know the Law
Landlords must specify in the lease that they are allowed to enter a property for inspections. They should also state specifically the frequency of visits.
Regardless of how often property owners do inspections, they must give ample notice to tenants. These requirements vary by state but are generally 24 to 48 hours.
In New Jersey, for instance, property owners must give at least 24 hours' notice. Keep in mind that the law does not require permission from the tenant, only that they be notified of the impending inspection.
Frequency of Inspections
There are two times that landlords should always conduct inspections: after move-out and before move-in. Inspections after a move-out can help identify any damage done by leaving tenants. Tenant move-in inspection allows property owners to know exactly the condition of the property before the new residents take possession.
Landlords should also do routine property inspections while tenants are living in the unit. Some landlords carry them out every six months. Others find that once every quarter is more suitable.
The frequency of inspections depends on the type of property. Commercial properties may need more frequent inspections than residential ones. This is due to higher foot traffic and more complex systems.
Landlords may check on older properties more often than newer ones. The seasons could influence inspections, especially if a property is in a climate with very harsh winters or summers. It lets landlords check the conditions of their HVAC or other systems before severe weather or temperatures hit.
Learn More About Regular Property Inspections
Now that you know how often to carry out rental property inspections, you can put a plan in place. An experienced rental property management company can further advise you on reasonable policies that protect your property.
PMI Garden State is a full-service real estate asset management company serving Mt. Laurel and the surrounding areas. We are dedicated to providing our clients with excellence in customer service and maximizing owner profitability. Reach out to us today for more property maintenance tips or to schedule service.
