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Quarterly Test means the test used to determine whether the Borrower may receive an Advance or Advances during the applicable three month period under Section 5.02 or shall make Mandatory Payments pursuant to Section 2.05.
Proactive and Preventative Maintenance Biannual inspections also allow you to be proactive in the maintenance of your rental property. It shows your tenants that you care about the property and its condition. It gives you the opportunity to identify maintenance issues.
Routine inspections are inspections done to check that a tenant is keeping the property in good condition. If there is a property manager, routine inspections are part of their role. Private landlords can conduct them themselves.
Failing an apartment inspection can prevent you from being able to renew, get your full deposit back, or get a letter of recommendation from the landlord for future housing applications.
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