Knowing as much as possible about a property before you either buy or lease it will help you sidestep future problems. The best way to learn about a property is to conduct a thorough inspection.

A property inspection for would-be investors - also known as a building inspection - is intended to flag any defects or problems with the property such as rising damp, cracking in the walls, a faulty roof, or structural hazards. Prospective purchasers conduct a property inspection to ensure they're not buying into something that's likely to become a money-pit. Meanwhile, landlords and tenants complete an inspection prior to a lease commencing to ensure neither party loses money unfairly once the lease comes to an end.

For a pre-purchase inspection, the following areas will typically be assessed: interior and exterior of building; roof space; under-floor space; roof exterior; site; steps; fencing; driveways; garage/carport/shed; and small retaining walls.

A pre-lease inspection is more focused on cosmetic damage to the property - in order that the tenant is not penalised for pre-existing damages. It's also an opportunity to flag areas where maintenance and repairs may be required.

Once a tenant inhabits a property, there are government-determined restrictions as to what times and how frequently a landlord can inspect a property - these restrictions vary from state-to-state, but uniformly require written notice.

As the name suggests, final inspections take place at the end of a tenancy. Their purpose is to compare the property's condition at the end of the tenancy to its condition at the beginning. The initial property report and any photos will be referenced at this time. If the property is deemed not to be in a reasonable state of cleanliness, or to have incurred damage that does not fall within 'fair wear and tear', the landlord will be within their rights to claim for some or all of the bond.

General Disclaimer

The information contained in website is general information only and does not constitute legal, financial or compliance advice. As the laws relating to tenancy agreements may have changed we recommend you check with the relevant State or Territory government department. We also recommend that you obtain your own independent legal advice about matters relating to landlord obligations, tenant rights and any legal disputes you may have with a tenant(s).