Rental Wilmington Delaware

[Philip Marzen]

I am looking into buying a rental in the city of Wilmington and I read that all rentals in the city have to be inspected yearly and if you live out of state you need to use a property manager. Does anyone know anything about this and how all of this works? 

[Malik Edwards]

Good Afternoon Philip, 

I'm not sure about the yearly inspection. If the tenant is on section 8, the house will get inspected yearly. This is how they ensure the house is up to code. On the other hand, I've never heard of yearly inspections for Standard leases unless the owner/landlord prefers it. It's definitely good practice to go to or have someone else go to the house periodically to at least check on your investment because some people won't report all issues. 

As far as the property manager question, it is definitely true. If you do not have a residential address in Delaware or very close to the city of Wilmington, they will make you get a property manager. They also will confirm the person you listed in fact lives in the area in case something happens. This is required to obtain a business license. Just make sure you get your license at the beginning of the year. if you get it at the end, they will charge you the full price, even if there's only a few days left in the year. Let me know if you have any other questions, hopefully I can help