LETS TALK: Routine tenancy inspections and how they can save a landlord £1000s!
Ok, so not the most interesting topic of conversation but one all landlords should be having. It amazes me how many self managed Landlords do not inspect their properties, read our blog on why they are an imperative part of the process. Read our 2 minute blog about how they save landlord £1000s!
If you have ever been a Tenant in a rented property you will know exactly what I mean when the dreaded “its time for your periodic inspection“ call is received from your Letting agent or Landlord. The initial panic of what if they throw me out because I haven’t washed up or mowed the lawn! Some Tenants don’t mind but for others it’s a worry. Inspections can feel intrusive and unnecessary and remind Tenants that their ‘home’ doesn’t actually belong to them. So why do them? Surely it would be easier for everyone if we just let the Tenants get on with it……..
Inspections are fundamental, not just for you as the Landlord/owner of the property but also for the Tenant. A good inspection shouldn’t be rushed, it is the chance for you and your Tenant to get to know each other, to build a relationship which will help build a foundation of trust which is so important should something unexpectedly go wrong further down the line.
Why do inspections and why so often?
This is a question we as Letting Agents are often asked. Well let’s be honest, on the first few inspections it is to check that they are suitable, that they are looking after the property and ultimately were the right choice of Tenant. Subsequent inspections are there to check the property and to identify any upcoming issues that you as a Landlord may need to set aside money for. It is better to be prepared for something costly that needs repairing/replacing rather than having it sprung on you from out of nowhere!
But its been like that for ages?
As a letting agent/Landlord it helps to know the property inside out, the changes a property sees as the seasons pass by. The works a property may or may not require in the upcoming weeks, months or years can only be gauged by a thorough inspection undertaken on a regular basis. This in turn is better for your Tenant if these jobs are highlighted before they become a major issue.
Only rich people are landlords, they can afford it!
A lot of Tenants are under the misconception that every Landlord has lots of money and are receiving the rent as full profit every month (I wish I can hear you all say), we know that is just not the case. We tend to find that a large number of Landlords have mortgages and do not have a huge amount of spare income and the rent received pays the mortgage and the fees of the agents and that’s about it, so forward planning is essential when it comes to costly repairs.
They seemed so nice at the start...
It is also easier to nip unwanted behaviour in the bud if inspections are undertaken regularly. We do appreciate that sometimes conversations with your Tenant over damages and repairs etc can be uncomfortable and that’s when having a property Manager comes into its own. We are experienced in liaising with tenants and the conflict that unfortunately sometimes brings.
But can you prove it?
Love Property carry out inspections every four months for our fully managed Landlords and produce a detailed report making sure that all aspects of the property are checked and that you as a Landlord are covered under HHSRS regulations. We can also undertake ad-hoc inspections for self managed Landlords as a yearly housekeeping check.
Want to chat about it? Call Sal on 01748 834373 or 07521 505114 or email me sal@lovepropertyuk.co.uk
