Do I really need a property inventory?
Its should be a fair assumption to believe everything is all good with your rental property is the rent is being paid on time and no issues are being notified, however, many Landlords do not understand how much damage can be done in a short space of time and it is therefore extremely important an instruction to a property management company or property manager to carry out a property inventory report is agreed as they act as your eyes and ears, regularly scheduled inspection allow you to catch any problems quickly and they are strict about scheduling regular inspections. It is also very effective at deterring undesirable tenant behaviour.
What information is included in the property report?
A Property Manager or Inventory Clerk should perform a detailed inspection which includes digital photos. The tenant should accompany them for a walk through and sign off on the inspection report. This inventory report is critical to resolve disputes over what damage took place during the tenants stay.
How often should I visit my rental property?
An inspection should take place at least annually, with every three to six months being the preferred time interval in between inspections by a qualified property manager.
Tenants must be given at least 24 hours notice before the inspection takes place.
If in doubt on the legalities, or you have a burning question, contact us to discuss.
