Good maintenance pays dividends in the long run
One of your most important landlord responsibilities is to maintain your property. It must be in a condition and state of repair that does not put the tenant at risk of injury or illness. Poor landlords believe that maintenance is a cost and nothing more. This couldn’t be further from the truth. Here are five benefits from keeping your buy-to-let property well maintained.
1. Early maintenance avoids expensive repairs later
Your tenants are obliged to report maintenance issues as soon as possible. It’s important that landlords don’t ignore them, and deal with them quickly. Of course, the tenants get the immediate benefit, but you get a much more valuable benefit. The longer you leave things unrepaired, the bigger and more expensive a minor maintenance issue becomes.
It’s plain common sense to keep on top of maintenance issues. The cost is smaller and spread over a longer period of time. Small problems don’t have to become major issues.
2. Good maintenance keeps great tenants for longer
One of your aims as a buy-to-let landlord should be to keep the best tenants for longer. You’ll suffer fewer void periods by doing so. Your rent will be paid in time, and your property is cared for better.
One of the key ways to keep great tenants for longer is to ensure you maintain the property well. This keeps the tenants happy, and happy tenants are the best tenants. And when you maintain the property well, your tenants tend to do the same.
Remember, void periods cost much more than minor maintenance and repairs.
3. Well-maintained properties are worth more
In the longer run, well-maintained properties tend to increase more in value. They are more appealing to viewers, and so command a higher rent, too.
Higher sale prices and higher rental income – simply by keeping on top of maintenance issues.
4. Well-maintained properties help you avoid being sued
If your tenant has an accident or becomes ill because of neglect on your part, you could be sued. That loose fitting carpet that was reported two weeks ago that you haven’t got round to repairing? If the tenant trips on it, breaks their leg, and can’t work for a couple of months, you could be liable. And you could be sued. Poor maintenance could cost you thousands.
5. Keep on top of maintenance and keep off the rogue landlord database
The rogue landlord database is up and running, and you really don’t want to see your name on it. In a recent article, 182,000 reasons you must avoid becoming a rogue landlord, I wrote about a landlord who had been fined £182,000 and added to Birmingham City Council’s rogue landlord database for ‘mistakes’ she made. These mistakes included letting unacceptable living conditions to tenants and ignoring complaints – both issues directly related to maintenance.
Good investment property managers are your key to good maintenance
Maintenance costs never get cheaper. Landlords who only occasionally use maintenance technicians and tradespeople often pay the highest prices, and rarely get the immediate service they need.
We have relationships with some of the best tradespeople in the business, and because of our size, we give them regular work. Because of this, we are able to negotiate some amazing rates, while getting work done in double-quick time.
In addition, our regular property inspections are conducted by staff experienced in spotting necessary maintenance work. This ensures small maintenance issues don’t become expensive repairs, and helps to keep void periods to a minimum – it’s always better to do maintenance work with paying tenants in the property.
Keep on top of maintenance issues when they happen. Your tenants will be glad you do, and so will your pocket. Get in touch with the team at Ezytrac on +44 0 1522 503 717and discover how we help landlords in all situations.
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