I self manage one of my six properties because it's just down the road so it's pretty easy.
But since I know the tenant pretty well I don't bother with inspections anymore. I did it for the first few years but that was that.
Now I'm wondering in the unlikely event that one day something goes wrong (i.e. tenant trashes the place), would the insurer be able to deny a claim because I haven't regularly inspected and therefore should have been able to see this coming sooner?
Should I make a habit of inspecting it more often? I remember when I was renting at my old place. In the 7 years I was there I literally never had an inspection, I guess the agent just trusted me.
But since I know the tenant pretty well I don't bother with inspections anymore. I did it for the first few years but that was that.
Now I'm wondering in the unlikely event that one day something goes wrong (i.e. tenant trashes the place), would the insurer be able to deny a claim because I haven't regularly inspected and therefore should have been able to see this coming sooner?
Should I make a habit of inspecting it more often? I remember when I was renting at my old place. In the 7 years I was there I literally never had an inspection, I guess the agent just trusted me.