When you let property, it is vital you maintain the condition and standards of the rental property. As a landlord, you need to impress the importance of property maintenance to tenants, but equally, you must play your part in ensuring the rental property is well looked after.
If the rental accommodation falls into disrepair, there is no incentive for a tenant to play their role in maintaining the property. This then accelerates the diminishing standards of the property. Landlords must be proactive in caring for their property, but the cost of maintaining rental property is often off-putting for landlords.
Information provided by the lettings management platform, Howsy, suggests the average cost of maintaining a buy-to-let property in the UK is £2,313 per year. This is the equivalent of 28% of the annual rental income for landlords in the United Kingdom.
Maintaining rental property is a critical component of being a landlord, but this is a sizable cost which can hamper many landlords’ ability to generate a profit from their rental property.
Calum Brannan is the CEO of Howsy, and he said; “Covering maintenance costs is an essential part of managing your buy-to-let investment as failing to do so will not only reduce the profitability of your investment as tenants look elsewhere, but it can also land you in hot water legally if your property is not fit for purpose.”
Landlords face many challenges in maintaining rental property
If a landlord takes responsibility for the maintenance of their rental property, they face a number of challenges. Some landlords carry out repair work themselves, but this is only recommended for people with experience and confidence in their skills. The vast majority of landlords are advised to call on the services of a local professional.
Of course, hiring a professional takes time and money, and it poses its own problems. Not all professionals are of the same standard, and it can be challenging to find reliable workers. You can see why landlords feel frustrated with the maintenance process, but there is a lot to be said for getting help from a company with a proven track record in this field.
We help local landlords care for their rental property
At Belvoir Sutton, we are pleased to say we offer a range of property management services for local landlords. This includes property maintenance. As a local firm with considerable experience in maintaining property, we have developed a great working relationship with reliable and trustworthy local professionals.
We can achieve the best prices, and we are proactive in our work. Rather than waiting for problems to arise, by being pro-active in rental property maintenance, landlords can save time and money. More importantly, it reduces the inconvenient for tenants while providing them with a better standard of service.
The initial cost of property management services is a fee landlords must consider, but this fee more than pays for itself in time, saved fees and in providing tenants with a better rental home. Properties which are well maintained are more likely to see tenants stay for longer.
If you are a Sutton landlord looking for help in managing your rental property, get in touch. Contact Belvoir Sutton today to see how we can help you care for your property and tenants.