August 14, 2018

Landlords and property maintenance

While the housing market continues in its current slump, people experiencing problems with meeting the mortgage may consider renting out their home and moving themselves into rental or shared accommodation.

There are a number of considerations and becoming a landlord is a decision not to be made lightly. It is a commitment and one you need to be fully obligated to meeting.

One of the major considerations is your property and its condition. Obviously the better state it is in, the more likely it is that you will receive top rent for it. If it has been the family home for some time, it might not be as pristine as you’d like it to be so there may be a need for some primping before you let it out. Many landlords take the route of allowing tenants to decorate but you might not like the results. Not a good idea if you are hoping to move back in after a short tenancy.

A similar issue is property maintenance whilst it is being let. Having landlord property insurance will cover you for any tenant damage to the property but there are certain obligations that you as a landlord are responsible for about general maintenance of your rental properties. A landlord property insurance policy may actually exclude some of these items so it is important to check exactly what is covered.

As a landlord you are responsible for
• Structural repairs
• Maintenance of heating and hot water systems
• Repairs to baths, toilets, sinks and other sanitary ware
• The safety of any electrical and gas appliances you provide
• The provision of an Energy Performance Certificate

If your property is in good condition or you invest in some ‘tidying up’ before deciding to let, a sensible way to manage the landlord’s responsibilities is to engage a letting agent.

A letting agent takes away the need for you to be an attentive landlord, meaning you really just have to have a watching brief. This doesn’t mean abdicating your responsibilities to be a good landlord. Engage a good letting agent who will look after your interests, even perhaps to a greater degree than you would do if you managed the property yourself.

Protect your asset with landlord property insurance from landlordbuddy

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