Before a person buys a home, their realtor or their lender may suggest or request a home inspection to insure the property is in a safe condition in which to live.
Home inspections take a look at potential safety hazards in a home and help homebuyers understand the financial repairs that may be imminent or that may devalue a home.
However, much less is talked about is the need for potential renters to have a home inspection.
The first reason renters tend to avoid having an inspection is they may assume the landlord is going to take care of any major problems that could occur such as water pipe leaks, roofs collapsing or other hazards.
And while a landlord should be aware of and take care of problems before they occur or immediately as they occur, this isn't always the case.
Sometimes the landlord doesn't have the money to make the repairs and may opt for the cheapest fix, which can include covering up holes in the roof without fixing them, leading to an increase in energy bills due to air escaping.
Other times the landlord may take their time to have repairs fixed.
Cost: The cost of the inspection is based on the square footage of the property.
Most home inspections cost several hundred dollars, which can be a pretty big deterrent for those who are looking to rent instead of buy.
However, the investment in the home inspection can help identify problems that can lead to renters having to move out due to mold allergies or mold related illnesses.
Unstable foundations or leaks in roofs can cause to property being flooded or damaged, which doesn't have to be replaced by the homeowner and would be covered under renter's insurance.
If major repairs are needed, renters may need to move out for a time being causing inconvenience and added expense.
Liability: If a renter finds him/herself in a position where the home is a health hazard or has repairs that haven't been fixed, the renter can always take the landlord to court.
However, the persons living there may have to move out and until a court returns a judgment on fault, the renter will be responsible for court costs and for the headache of trying to find another place to live until concerns are taken care of.
Leases: Read the fine print.
Some rental agreements may have clauses saying they are not responsible for reimbursing expenses paid out of pocked by the tenant, or that they do not cover certain aspects of problems that arise.
If renters are unsure, consulting a lawyer to look it over makes sense.
Home inspections are not just for homebuyers or sellers.
Renters often benefit from having a home inspection done.
Not only that, a home inspection will help them know what they are getting into.