Course 4 Property Inspection Flashcards
What is the purpose of the property inspection?
Shows management’s performance and property performance, reveals if the property is competitive within its market. It should include a loan file review, market analysis, inspection preparation, management interview, lease reviews, physical property inspection, and inspection of the rent and sales comparables.
What are examples of problems caused by water infiltration?
Mold, peeling paint, rebar, exterior siding rot, falling stucco, settlement issues that affect foundations as well as doors and windows
What are down units?
A down unit is a unit that cannot be rented. It may have been cannabilized, meaning the appliances, cabinet doors may have been taken from the unit and used elsewhere in the property. Down units may also be used for maintenance storage. A down unit may cost $6,000-$8,000 and take 2 weeks to repair in order to get it up and running while a normal vacant units costs on average $2,000 and takes 3 days.
What is negative gradient?
Water flows toward the building foundation.
What is efflorescence?
Whitish, powdery deposit of soluble salts carried to the surface of concrete by moisture.
Why are GFCI outlets necessary?
GFCI outlets help prevent electrocution and electrical fires by detecting ground faults and stopping the flow of electricity.
