While rental properties can be a great source of income, you need to put in the work if you want to maximize your profits.
Maintenance is one of the most important tasks you have as a landlord, and rental property inspections are a key part of this. They allow you to assess the state of your properties so you know what work is needed. But when should you be doing rental property inspections?
It's important to do things within the lines of the law. Let's go over what you need to know about rental property inspection laws for your property in Saratoga Springs, NY
Types of Inspections
There are three key types of inspections you should do for any rental property.
Moving-in inspections are done before a tenant moves into a property. They allow you to take note of the condition of everything as well as any furnishings or other items.
When the tenant leaves, you'll do a moving-out inspection. During this, you'll go over everything in the same way to check for any damages or missing items. If anything needs to be fixed or replaced, you can use the security deposit to cover the costs.
Throughout the tenancy, you'll do routine inspections. These are essentially a way of keeping an eye on the property. You can look for any issues (which will come up with time) so you can organize any repair or maintenance work that's needed.
Inspections should be thorough, but many landlords don't actually know what they're looking for. Professional property management inspections can be ideal, as property managers know how to conduct proper inspections. They can spot things that most people wouldn't so small issues won't go unnoticed..
Entering a Property in Saratoga Springs, NY
The crucial thing to know about New York rental regulations is that you must give at least 24 hours' notice before entering a property. You can give more than this out of courtesy, but Saratoga Springs rental laws forbid you from entering without suitable notice.
How Often Should You Carry Out Rental Property Inspections?
There are no laws in New York about how often you need to perform inspections, so it's ultimately down to you. Some landlords do them quarterly, while others only do them once a year. You can make whatever choice you see fit.
If you do them any more frequently than this, it can cause problems. Tenants have a right to quiet enjoyment, and the more often you do inspections, the more you'll disturb them.
It can be a good idea to state in lease agreements how often you plan to do inspections so that tenants are aware. You just then need to give them enough notice when the time comes around.
Professional Rental Property Inspections in Saratoga Springs, NY
Rental property inspections are vital if you want to look after your properties. You may want to do them quarterly, semi-annually, or annually - just make sure you give your tenants at least 24 hours' notice.
Veno Properties provides professional property management services throughout Saratoga Springs, NY. We can manage any type of property and use state-of-the-art technology to provide the best level of service available. Take a look at our property management page to find out more.
