We are new to investing and just made our first purchase. We knew there was a lot of work to be done and are in the process of setting that up, however, our property manager is asking for a copy of the Home Inspection and I am not comfortable with that. Is this a good idea?
Hi @Lisa Woods ,
Why would it be a bad thing for the property manager to know what she or he is managing? I wouldn't see an issue with this, personally. I'd happily share the inspection report, and then let her or him know what I did and didn't fix.
Who knows. Maybe a year from now a tenant will be claiming that blablabla was broken when they moved in, and your property manager will be able to shut that back-and-forth down really quick by showing the tenant that portion of the inspection, potentially saving you lawyer fees.
Thanks for your input. I was just wondering if there were any confidentiality issues. It is an older property (1870s) and we are getting in shape as we can. We are putting a fair amount of money in now to make sure it's to code, but for some reason, it just makes me uncomfortable. I appreciate your perspective.
In my opinion as long as property meets code compliance the property manager doesn't need the inspection report. Then she can't disclose something improper or discuss an issue that's not an issue and give information to tenant she's not qualified to do.
I would say NO. The home inspection was part of the sale you as owner wanted. I doubt other properties they manage would have access or request access for that report. If they didn't know you were new buyers how would they know you even had an inspection done, if you brought up that you had one done all you need to say is It passed code compliance, here's my rental license. That's all she'd need is proof of license.
If I were the property manager and I requested this from the owner and they said no...I would probably not take on the person as a client. My perspective would be that they are trying to hide something that will likely cause me liability.
If it's not a requirement of your company I wouldn't see it to be an issue.
I doubt the PM asked for it,, I bet the owner mentioned it and now is regretting they did.
Yes the rental license is something to be provided, that gives proof of inspection by city and that it's licensed for rent.. the other is rather a owner option disclosure for point of sale at closing.
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