Landlords, property managers, and investors looking to expand their portfolios are always on the lookout for multi unit properties. These units are particularly lucrative because you can have multiple renters in one property. As an owner of a multi unit property, you want to make sure your new property is a solid investment. Whether you’re planning on renovating a multi unit property or keeping it mostly unchanged, multi unit Inspections on your investment property is a smart idea to have an understanding of the attention that your property needs.
Home Sweet Home Inspections are here to help you give perspective on the future of your property investments. Don’t purchase an investment property site unseen. Protect your investment and future with Palm Springs Multi Unit Inspections from Home Sweet Home Inspection.
A multi unit is a building that consists of two or more units in one building. A multi unit property is a great investment that often has many strings attached. It’s important to know what you’re getting into before making such a large commitment. Many units will come with current tenents with their own comprehensive lease agreements. Knowing some of the conditions of your new agreement, are just one of the many things covered in your Palm Spring Multi Unit Inspections.
Mechanical Inspections
Tenants living in multi unit properties want to be able to control the temperature of their unit. Making sure the HVAC systems and air conditioners are working properly is essential to leasing out your units to new tenants. These systems can be very complicated especially with zones for each unit. An experienced multi-unit inspector will be able to identify the common problems with the HVAC system in your investment property.
Roof Inspections
No one likes a leaky roof. It can especially be hard to get insurance for your property with a very old roof. Make sure you know the condition of the roof before you finalize the purchase of your multi unit property. A property with roof problems isn’t an end-all. If you are aware of the issues you can use your inspection as a negotiation tool to have the roof fixed or replaced before the sale is final.
Foundation Inspection
Foundation repairs can be very expensive. A knowledgeable inspector knows what to look for when looking for foundation issues. Cracks in the walls or slanted floors are tell-tale signs of foundation issues. Beware of investing big bucks in a property with foundation issues.
Unit Inspections
Even if every unit in your potential multi unit property looks the same, there’s a good chance no two units have the same issues. Be sure to walk through each and every unit with your Palm Springs Home Inspector to learn about the issues with each unit.
Lease Audits
Many multi-unit properties often come with established tenants. Just because you’re taking over the ownership of the property doesn’t mean you can just kick them out. Complete a lease audit to learn about potential problems with tenants and review background checks. A financial audit should also be included with your Plam Springs Multi Unit Inspections. Make sure the financial information you were given is what you expect from the property. Look at bills, deposits, and bank statements to verify that the property is a reliable investment.
Service Contracts
Service contracts like lawn mowing, snow removal, trash service, and laundry contracts can sometimes be changed when you take ownership, but most have already been established. Laundry contracts can be particularly challenging to get out of. Be sure to read the agreement carefully to see if you can change providers.
Utilities
Many multi unit properties require the owner to pay some of the utility bills. Ask for past bills to get an idea of the average utility cost each month. You’ll typically have to cover utilities like gas, water, sewer, or electricity.
Don’t trust the cheapest or most convenient home inspection company. An experienced mutli unit inspector will be a great resource for what to look for and for recommendations for necessary repairs. Call Home Sweet Home Inspections for comprehensive Palm Springs Multi Unit Inspections. Our experienced team is ready to help. Contact us today.
