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Benefits of a home inspection for Landlords and Vendors

Posted by Rameez on 17/07/2020
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The benefits of regular inspections of rental and sale properties are still untold. We should not be a source of annoyance, but we should see as an excellent opportunity to ensure that your investment property is protected and that your occupant enjoys the rental experience as well as vendor has less stress in selling their house . Rental property checks help landlords ensure that their investment is well looked after and checked for any maintenance or safety issues. At the same time, sale property checks make vendors will understand that their home is kept in up to date condition for effective selling to buyers. So, let us see what are the benefits that routine inspection brought by real estate agents which brings happiness and smile to landlord or vendors

Landlord perspective

  • Checking tenants following rules

When you rent your property to a tenant, you enter into an agreement which sets out the rules to be followed by the tenants. Routine inspection of your property helps you to test whether the tenants abide by the rules or not. It also makes sure they don’t make any improvements or adjustments in your building. Even when you can’t find time to inspect the house, you should employ someone on your behalf like a real estate agent, who can inspect your house.

  • Making it usable for future tenants

When a property is left to fall into disrepair due to poor maintenance or careless renters, the unfortunate possibility is that any repairs that need to be made before new tenants move in will be costly on two fronts until a group of tenants is moved out. Firstly, there would have to be expensive repairs instead of easily moving tenants. Second, there will be no tenants in paying rent during the weeks during which those repairs are made. Actually, having a poorly maintained property will affect the probability of attracting new tenants at all , eventually, it is very vital to maintain the property through inspection in order for the use of future tenants

  • Value of the property is maintained

Inspections are a part of managing properties. Doing regular inspections ensures you keep your property in excellent condition and maintain its value. Landlords who are busy in their business routines can hire real estate agencies to manage their properties which are responsible for inspection services. Alternatively, professional property valuers or even real estate agents will perform a detailed review, advising you about your home’s current value and how to boost its value.

  • Concern on tenant’s safety

Occasionally, maintenance issues can pose a threat to tenants living on the house, whether it’s a broken deck or overgrown garden. Rental home inspections will pick up on these potential problems until they become a threat to your current or prospective tenants.

Vendor perspective

  • Easy selling

If a buyer is excited about your property and is interested in buying it, they will most definitely be very keen to close the deal. When inspection of the building has been completed and all changes have been made, they also continue with an buying the property immediately. But, if you have to wait for the inspection to take place, only to find that there are some problems, customers may feel they are buying a damaged property that puts doubts in their minds. This doubt could in effect prevent them from placing an offer on your property or giving them confidence to negotiate the down price

  • Keeping it in one piece

The only practical way to keep your property in a perfect shape before its being listed for sale is to have thorough home inspections. Often minor maintenance issues can blow up into big problems if they aren’t immediately handled. In a worst-case situation, if undetected, a minor leak or crack can cause thousands of dollars in harm, which can increase your extra cost as well as lower your profits. A proper maintenance system ensures that any minor problems can be fixed quickly and if a tenant does not care about the house, the problem can be handled before too much harm is caused. Performing a routine inspection house checks gives the buyers an illusion that the home is inspected frequently, giving them more reason to buy the home in good condition

  • Less terms on negotiations

Let’s hope that the inspection report came out straightforward that although you have to pay for the review, getting peace of mind that you minimised the possibility of a prospective customer noticing an issue with the property that placing them in a position to discuss the downward price is invaluable.

Nevertheless, once an problem is found in the compliance report, you have the option to negotiate immediately for it to be fixed on your terms, rather than trying to remedy it on the conditions of the customer or face losing the customer all together. So through proper maintenance of the property through inspection prevent buyers from more negotiations with agent or vendor since they don’t have a stand to negotiate the price down showing the damages.

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