Buying and selling rental property are necessary components of being a landlord and real estate investor. There may come a day when you decide it's time to sell a current property in order to acquire new units that increase the value of your real estate holdings. This may seem like a simple process, but many factors can come into play when deciding to put a property on the market. One of the most important pieces of this puzzle is making sure your property will pass inspection once a prospective buyer makes you an offer.

To help you prepare your property for this important part of the selling process, we've assembled a checklist based on recommendations from the National Association of Home Inspectors:

• Clear a six-inch distance between the side of your building and any mulch or grade.
• Clean out gutters.
• Divert all water away from the building with proper drainpipes and downspouts.
• Trim trees, shrubs and roots that are close to the foundation, roof or siding of the building.
• Seal any cracking asphalt.
• Seal all masonry chimney caps or install a metal flue cap.
• Clean HVAC filter and replace it if necessary.
• Test all smoke and carbon monoxide detectors.
• Point up any failing mortar joints in brick.
• Have a record of the last cleaning of your chimney and fireplace.
• Seal masonry walls in the basement.
• Make sure all doors and windows are intact and in working condition.
• Ensure all plumbing is in working order, without leaks or repairs needed.
• Check sump pump.
• Make sure all light bulbs are working.
• Caulk all exterior wall cracks.
• Check that all kitchen and bath vents are in working order.
• Remove paints, solvents, gas and any chemicals from basements, attics and porches.
• Turn on all utilities before the inspector arrives and make sure he or she can access all areas of the house easily.

Be thorough in preparing your rental property for inspection, and you'll be one giant step closer to a smooth sale, and the prospect of enhancing your rental property portfolio with a new acquisition.