October 14, 2009
Look After Your Buy-To-Let Property
As we come up to winter it's probably time to check on your buy-to-let investment and make sure that you can spot any problems before they end up costing you a fortune.
James Davis, chief executive of upad says: “Investing some time inspecting your properties now could save you hundreds, if not thousands, of pounds in repair bills at a later stage.
“It’s also important to recognise that in this competitive environment, attracting and retaining good tenants is vital. Keeping your properties in first class condition should therefore be ‘top of mind’.”
So ask your tenants if it's OK to come round and check for damage, list any repairs and prepare for the worsening winter. For a start, it's good to remember that much of Britain, damp is as much an enemy as the cold, and so weather-proofing should be high on everyone’s agenda. Damp can damage brickwork and stone, so check that gutters are clear and not clogged with debris. Also, check that mortar and render – small cracks are a simple DIY job to fix but left untended, they can become much more serious and costly to remedy.
And either call a roofer or get yourself a ladder and check that roofs are clear of moss, leaves and other debris, and that any missing tiles are replaced – leaks in roofs can be a nightmare to fix in the winter and will cost a fortune, not to mention the cost and hassle of rehousing a tenant if the property becomes unlivable.
You have to check inside the house too – checking for badly-fitting windows, gaps around doors and floorboards, and even drafts through letterboxes can help make your tenant's life better and also can help make the house greener. With that in mind, it's worth considering improving insulation – grants are even available for landlords to help or even totally cover the costs of energy-saving improvements.
Being a landlord doesn't just mean collecting cheques each month – it means making sure your house, your investment, is working as well as it can. By taking care of your property, you can avoid expensive problems in the future.
SOURCE: upad ,05/10/09
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