Rental properties can be great investments, but things aren't always easy.
Even for a single property, there are various tasks you need to carry out. One that's sometimes overlooked is rental property inspections. It may be quicker to skip this stage, but doing so can result in various issues.
In this guide, we'll explain why rental property inspections in Savannah are vital. Keep reading for more.
What Is a Home Inspection?
Property inspections as visual checks that are carried out on a home as part of the buying process. In most cases, they're done within 10 days of signing the contract.
The purpose of the inspection is to see if there are any problems and determine the state of the home. This includes structural elements, electrical features, heating and cooling systems, and plumbing. There are four basic points that an inspector will generally base their evaluation on:
- Installation
- Maintenance
- Safety
- Performance
After the inspection, the home inspector will produce a comprehensive report on the property. Depending on what the report shows, you may be able to negotiate with the seller.
How Long Does a Home Inspection Take?
Savannah rental property inspections can vary depending on the size of the property and its features. In most cases, however, they take about two to four hours. They're entirely visual, but they go into a lot of detail.
What Inspectors Look for in a Home Inspection
There are plenty of things a home inspection covers. Some areas are more crucial than others.
The roof is one of the most important elements. The inspector will look for leaks or any signs of damage. Roof issues can be expensive to fix, so you don't want any to go unnoticed.
If there are any issues with the electrical systems, it can lead to serious health and safety hazards. They'll check these to make sure everything works as it should and there are no fire risks.
They'll do similar checks on the HVAC and plumbing systems. Plumbing issues, especially, can result in water damage which is something no property owner wants to deal with.
Some other important elements that they'll look at include:
- Floors, walls, and ceilings
- Attic/basement (if present)
- Windows and doors
- Foundation
With regular property maintenance, all of these should be of a good standard. When your report comes through, you'll be able to tell what issues there are and can decide how to proceed.
Negotiating After a Home Inspection
If the report doesn't reveal any major issues, you likely won't be in a position to negotiate. When major problems are present, however, you can discuss these with the seller.
One of the common approaches is to ask for a lower price. Your inspector should be able to guide you so you know what kind of offer to make. Alternatively, you could ask the seller to deal with the issues before completing the sale.
Professional Rental Property Inspections
Rental property inspections are a crucial part of the buying process and will prevent you from overpaying for your new rental property. Savannah Property Management is a full-service real estate management company with over 30 years of experience. Take a look at our real estate services page to find out more about how we can help you through the buying process.