The importance of mid term visits

With the following statistics apparent (carried out by an online agency)

  •  80% of tenants expect landlords to pay for damage
  • A further 72% of tenants said they ended up in a dispute with their landlord over the property damage.  The research also shows that the most common damage caused by tenants is stains to carpet from food, wine and paint (69%), followed by pet damage to curtains and floorcoverings (51%); cigarette burns to soft furnishings and carpets (47%); damage to kitchen cabinet doors (33%); scratches and dents to doors, door frames and skirting (28%); and burns and marks to kitchen surfaces (19%).
  • And according to the latest research from the National Landlords Association, an estimated 29% of UK landlords (400,000), have had their property damaged by tenants in the last 12 months

New figures have revealed that landlords are forking out a massive £4.5bn every year for property damage caused by tenants, while rent arrears account for just around £900 million in costs. (TDS)

Depressing . Makes you wonder “whats the point”? However it is clear that all is not lost.

 Emphasing that letting property is all about risk management, and again it is clear that using a reputable agency such as Belvoir for management of your property would contribute to ensuring that this risk is minimised. Using state of the art  software, for their inventories and mid term visits, check outs.

At the end of a tenancy landlords often face damage  which can run into a lot of money.

The most common areas include

iron burns on carpets;cigarette burns;soiled marks on bathsUPVC window sills and frames;heat damage to polished wooden furniture; stiletto heel imprints on wooden floors and vinyl.

Claiming for damage on insurance policies may prove to be tricky point as Landlord Insurance Premium Tax increased in November 2015 from 6% to 9.5%, making this an unattractive solution for a lot of landlords who claim for damage on their policies.

Jax Kneppers, Founder and CEO of Imfuna comments: “Damage to floor coverings such as cigarette burns or stains, is very different from wearing of the carpet pile. A mid-term inspection gives the tenant and the agent or landlord an opportunity to have an open discussion on the condition of the property, so that all parties can come to an agreement about what constitutes damage and wear and tear.”

We use a mid-term or quarterly property management visit template that is available to all users. This enables us as your agent to keep a thorough record throughout the period of the tenancy, where any damage to the property can be assessed and repair or replacement can be negotiated between the parties.

To further highlight the need for mid-term inspections, the 2015 UK Budget has stopped the allowance for wear and tear which stood at 10% and now landlords will not longer be allowed to claim for this relief from April 2016.

As a landlord you may be happy to manage your own portfolio but Belvoir are able to offer a bespoke service to include property visits on an ad-hoc , pre-arranged basis. Want to know more? Then please contact us for details.