If you see signs of wear, scrapes, any discoloration, creases, etc--change it.
If not, it's probably good for 3 to 5 years, so long as the wiring is completely secure (check the cord for damage, discoloration, deterioration, etc). I think everything should be checked regularly.
I recently changed it out in one my hatchling racks that I had picked up used, and plan to do the other rack this summer.
It's a good time to break down and disassemble, clean, and disinfect the rack, while you're at it.