Are you aware that 30% of homes are in an HOA community nowadays, according to RubyHome?
Most people own these homes, but lots of communities have a handful of rentals. Managing HOA rentals can be a bit trickier, though.
Rental property inspections are important in HOAs. Read on for our HOA inspection guide.
Understanding HOA Guidelines
One of the first things to know when managing a rental property in an HOA is the importance of following the HOA's rules and guidelines. These rules are created to maintain the appearance and quality of the neighborhood.
Each HOA is different, and its rules may vary. Some common rules include restrictions on property appearance, landscaping, and even the number of cars allowed to park outside. You must read the HOA guidelines carefully and ensure that your tenants are aware of them, too.
Why Rental Property Inspections are Important
Property inspections are key to effective rental property management. By inspecting the property regularly, you can ensure that the tenants are following HOA guidelines and maintaining the property well.
Inspections also help protect your investment. By catching maintenance issues early, you can save money in the long run. For example, a small leak can become a major water damage issue if not addressed quickly.
When to Conduct Property Inspections
Efficient property inspections should be done at the right times. You don't need to inspect the property every month, but there are certain key times when inspections are crucial:
Move-in and Move-out Inspections
Before a renter moves in, look over the property to document its condition. Do the same when they move out to assess any damages and ensure it is still in compliance with HOA rules.
Routine Inspections
These should be scheduled once or twice a year. Routine inspections allow you to check on the property's condition and ensure compliance with both rental agreements and HOA guidelines.
Special Inspections
Is there a specific concern, such as a complaint from the HOA about violations? If so, you may need to inspect the property right away.
What to Look for During Efficient Property Inspections
During property inspections, there are several key things to look out for. These include:
Exterior Maintenance
Check the landscaping, exterior paint, and the condition of the roof. Many HOA guidelines are strict about how the exterior of a property should look.
Cleanliness and Clutter
Ensure that the property is free of clutter, especially in yards or common areas. HOAs often have rules about keeping properties clean and neat.
Safety Issues
Check for broken windows, faulty electrical outlets, or other safety hazards. Keeping the property safe is important for both the tenants and to meet community compliance rules.
Property Damage
Look for signs of property damage, such as water leaks, mold, or pest infestations. Getting to the bottom of this sooner rather than later is always wise.
These Property Inspection Tips Are Vital in HOA Communities
Mastering rental property inspections is key to better management in an HOA community. By staying proactive, you can make rental property management a smooth and successful process.
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