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Inspecting the rental unit

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Although you likely had a brief chance to view the unit’s interior during the due-diligence period before escrow closed, walking through again with the tenant can be helpful. Know your state’s laws, however. In most states, tenants don’t have to let you enter their units unless you have a legal reason and have given proper notice. If you set a voluntary appointment, the tenant knows that you’re coming and can prepare. If conducting a periodic unit interior inspection (perhaps annually) is legal in your state, set that expectation with your tenants at the outset, and include it in their lease.

Don’t knock on the door and expect to walk through a tenant’s rental unit. But if you’re already at the property delivering your letter of introduction (see “Meeting the tenants in person” for more on this topic), you can schedule a mutually convenient time to meet. Some tenants are glad to meet with you then, but don’t necessarily count on that. Giving your tenants time to think about any issues they’d like to discuss is beneficial for all of you.

The former owner of the property may have had a policy of documenting the unit’s condition at the time the tenant took possession of it. If so, you may want to compare those notes with the notes you make when you walk through the unit. If proper documentation of the unit’s move-in condition wasn’t made, consider preparing such information during your walk-through. This info allows you to establish some sort of baseline for the unit’s condition to use when the tenant moves out, which then helps you determine the proper amount of the security deposit to return.

Property Management Kit For Dummies

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