The Landlord Blog
Buy To Let – Problems Landlords Face
Landlords can face many letting problems with their tenants. From not paying rent in a timely manner, to damaging property, a tenant can cause a landlord grief in many ways. Following are two common problems faced by landlords, and what can be done to avoid them.
From time to time, a tenant will vacate a property, leaving it in unacceptable condition. One way for a landlord to protect against costly cleaning or repair bills is to collect a damage deposit from the tenant prior to the move in date. Should the renter leave the premises in dirty condition, or if property has been damaged, a portion or all of the damage deposit may be kept to pay for cleaning or repairs.
Almost every landlord will encounter a tenant that is late with rent payments. To avoid any confusion, and deter late payments, a monthly rental due date should be clearly noted in the tenancy agreement. If a tenant falls behind on payments, it’s important to contact them immediately to make payment arrangements.
Late rental payments and property left in unacceptable condition are two of the most common problems faced by landlords. By having a clear tenancy agreement, and immediately taking steps to resolve problems, a landlord may be able to avoid both of these situations.
From time to time, a tenant will vacate a property, leaving it in unacceptable condition. One way for a landlord to protect against costly cleaning or repair bills is to collect a damage deposit from the tenant prior to the move in date. Should the renter leave the premises in dirty condition, or if property has been damaged, a portion or all of the damage deposit may be kept to pay for cleaning or repairs.
Almost every landlord will encounter a tenant that is late with rent payments. To avoid any confusion, and deter late payments, a monthly rental due date should be clearly noted in the tenancy agreement. If a tenant falls behind on payments, it’s important to contact them immediately to make payment arrangements.
Late rental payments and property left in unacceptable condition are two of the most common problems faced by landlords. By having a clear tenancy agreement, and immediately taking steps to resolve problems, a landlord may be able to avoid both of these situations.
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Landlords – How To Identify Areas Of Cost In Freezing Cold Weather Pt2
Now that you’ve suffered from that unavoidable pipe burst or needed an emergency boiler repair, where would you turn next time? Were you happy with the price and the work carried out?
Whether you have a number of properties, or just one, it’s a good idea to use suppliers registered under the guild of master craftsmen, rather than take pot luck. This applies not only to the maintenance of gas appliances, but a whole host of other property related essentials where tradesmen are involved.
Building relationships with quality suppliers is really key, especially when you are in an emergency situation. Pick the ones who will look after you, if you look after them. How many times have you heard someone say that they couldn’t find a good plumber when they needed one? You could even take this a stage further by leaving a list of ‘preferred’ suppliers for any tenant that occupies your property, especially if you don’t use an agent.
This is food for thought when it’s time to get that boiler serviced. Choosing and sticking with a local quality trade who is part of an independent professional organisation goes a long way toward ensuring your exposure to headaches will be reduced when it comes to emergencies.
In the long term, relationships build trust and it is much easier to negotiate costs with a supplier who you use regularly, rather than one that you have to use in an unplanned situation.
Back to landlords – how to identify areas of cost in freezing cold weather part 2
Landlords – How To Identify Areas Of Cost In Freezing Cold Weather Pt1
Frozen Pipes
Every portfolio landlord has properties that are likely to cause pain the minute the temperature drops. This quick post seeks to jog the memory with a handful of useful tips, hopefully before expensive plumbing repairs are necessary.
If you have pipes that run close to a hole (or cable runs) in an outside wall, you should make sure that these are targeted for insulation. Exposed pipes need treating to pipe lagging, this is readily available from most DIY stores.
Pipe lagging has the effect of slowing down the heat transfer and reduces the risk of freezing. Additionally, filling any external wall holes with expanding foam, mortar or a proprietary caulk will help reduce the risks of pipes freezing.
Where there is a poorly heated room and pipes run, such as a laundry building or conservatory, leave to doors open (including any cupboard doors) to get some heat into the pipes. Another tip for this type of area is to keep a small amount of water flowing through the pipes as this helps to prevent them from freezing up. Leaving a tap on slightly will achieve the desired effect.
When your property is going to be vacant for any length of time, it is good practice to have the system drained down in order to prevent any nasty surprises.
Checklist:
- Plug holes in walls
- Insulate pipes
- Leave doors open to circulate warm air
- Drain down the system if unoccupied
If any readers have more suggestions, we’re happy to take related tips in the comments. Thanks for stopping by.
Landlords Mortgages Could Be Subject To New Regulation
The growth of the population and the reduction in the size of households mean that as a nation we need to provide more homes.
Any changes that make obtaining mortgages more difficult may end up restricting the number of loans available for landlords. The knock on effect being lower investment and fewer properties for tenants.
Because of the stagnation in the current market, owner occupation is a less viable option for most. And the outlook for any kind of expansion in the private rented sector is looking bleak.
Introducing additional layers of complexity to lending at this time requires careful consideration and a cautious approach.
