If I bought a multi-family property - most likely a foreclosure that had been vacant for a long period - in need of repair, completed repairs, and then wished to rent it out, do I have to open the home up (and/or pay) to be inspected by the city prior to that? Like for a kind of certificate of occupancy? Will it differ by state or county perhaps? Any information is helpful, thank you!
I do not own a specific property yet, I am still in the shopping/preliminary phase. Just preparing for what's ahead to figure in potential costs. I figured if it was mechanical or structural then there would be a permit required to do the work. I'm a carpenter by trade and am familiar with building permits, and I should have been more clear in my first question that I'm assuming all renovation work was permitted if required. I guess my question was is there an additional walk-through of any kind that cities will want to do on a house prior to occupancy by tenants? Or that property management companies, banks, insurance companies etc. will want to perform before taking on the property?
You will have to check with the city- it depends highly on the area.
Where I invest, you have to get a rental inspection every 2 years- similar to what you have to do for Section 8 but that's every year I think. Other places don't require anything, it just depends.
Okay, thank you Kelly and Chris for your answers! I will remember to look into that specifically when I decide on a market then. Kelly, do the inspections cost you as the owner anything?
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