When buying a rental property, it is important to have a thorough inspection done before making the purchase. Learn more about how to choose the right property inspector in our latest post!
You don’t want to rely on just any inspector to do the job. When you are ordering an inspection for a property you are thinking about buying, it is critical to have the right person for the task at hand. Not all inspectors are the same. Some have certain specialties that may be advantageous for you. For example, you may want to find an inspector that knows a little more about pools if one happens to come with the house you are looking at. Below, we will offer some tips to help you choose your property inspector in Greater Toronto Area!
Ask About Their Background
Just like any interview, ask them about their background, how long they have been an inspector, and if they have any specialties. Ask what they did before becoming an inspector. Give them some major points if they were in the construction industry. Having someone on your team with a background in construction, plumbing, or electrical, is always a perk. Someone without this background may not have the first-hand experience you are looking for.
Check Out Their Reviews
While some reviews aren’t always indicative of the way someone does business, you will be able to learn more about them by hearing what others have to say. Check out sites like Angie’s List and Home Advisor to find out what actual customers have to say. You’ll need to take some reviews with a grain of salt, but an experienced property inspector should have a good number of reviews to give you a sense about how they work.
Know What’s Included In The Inspection
Before hiring a property inspector in the Greater Toronto Area area, you’ll want to make sure you know what is included in the inspection. Ask questions up front as some inspectors may not look at things you are expecting them to such as a chimney or roof. If this is the case, you may want to hire another inspector or look into hiring a specialty inspector for the job.
Your inspector should understand your business and the goals you wish to achieve. They need to know how to find the big stuff that is going to kill your ROI. As an investor, you likely know enough to catch many of the small repairs on your own. It’s the bigger problems, and the things not always visible at first glance, that tend to get you in the long run.
Ask Other Investors
A great investor will always make it a point to network with like-minded people in their area. When you are looking for real estate professionals to help you during the purchasing process, one of the best ways to find talented vendors is to simply ask other investors who they work with. The people they have worked with in the past will likely be familiar with working with investors and be able to better help you with what you are hoping to accomplish.
Build A Relationship
Once you find a talented and knowledgeable inspector, you’ll want to develop a professional relationship so you can count on them to help with any investment property you purchase in the area. Every investor needs a great team to support them along the way, and having the right inspector on your side can potentially save you thousands in repair costs in the long run.