Rolanda Wilson - YOUR NO-RISK GUIDE TO RENTING OUT YOUR PROPERTY

sign an inventory and property condition form, which details the current condition of the home as well as the contents of the home. You can have your attorney mark up what the tenant needs to sign to make it easier for them to understand and sign the legal documents correctly. Tell the tenant they have 48 hours to go through the property to inspect it, and if they find any issues, they have to let you know within those 48 hours so that you can fix them without having to charge the tenant when they move out.

CONDUCT AN INSPECTION WHEN TENANT MOVES OUT

When your tenant moves out, conduct a thorough inspection of the home and property—both inside and outside—as soon as possible, so you can see, and document, the condition of your place after the tenant’s exit. The best way to do an inspection is via before-and-after pictures as well as video evidence of your home to help you judge correctly if any damage was done. Video footage gives the additional advantage of being able to view and judge from all angles. As mentioned already in this book, you should also be doing regularly scheduled inspections of your rental property while the tenant is living there. If you notice an issue during one of these inspections, you can approach your tenant right away, letting them know that the obviously new big scrape on the wall wasn’t there before, as stipulated in the tenant’s signed inventory and property condition form. Doing this will make it much easier for you to take money out of the security deposit, and address and fix any issues when the tenant moves out.

If there are any issues that you know have been caused by the

72

Powered by