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Landlords’ Little Checks Can Save You £’000’s 👌

This entry was posted on Wednesday, April 27th, 2022 by Nigel Fitzakerley

Your tenant reports some maintenance what’s the first thing you do?

Panic!! 🤦‍♀️🤦‍♂️

No, I’m only joking! 

When I first started out you always dreaded the phone call from the tenant since it was always a problem…what’s broken now?  Why can’t you pay the rent?  You’ve split up with your girlfriend, you want to move out early!

You’d never get a phone call which was a nice thing…

Same with letting agents and I’ve been trying to change this recently, when landlords have been contacting us for their annual tax return (a 2 min report we send for free), I’ve been trialling a quick analysis on how they’re doing, just to make sure our landlords are making more money year on year and we’re delivering the return they require.

There are two ways you can make more money from your rental property – your income (increasing it) and your costs (decreasing them).

On an annual basis, we’re very very thorough when it comes to checking rents, increasing them to just below the market rate to keep your tenant long term but we’ve also got an experienced team when it comes to maintenance.

If you do get that dreaded call from your tenant or letting agent, the first thing to do is not to panic.  If it’s a large job, it’s always best for you or your agent to visit the property first to ascertain the reason for the work and also the potential cost.

If you send out a tradesman they’ll cost the job but sometimes the difference between what’s required and what the tradesman thinks is required can be £’000’s.

Mat one of our experienced property managers below, did a quick video on a damp related maintenance check, showing what you should look out for to save you money!

I hope you found the video useful and remember it’s OUR JOB TO SAVE YOU MONEY!

For any sales, lettings or refurb help:

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  • We’ll contact your letting agent to ensure a seamless tenant transfer, including the deposit, keys and all paperwork.
  • We’ll contact your tenant to resolve any rent, maintenance or refurbishment issues you have, arranging a property visit if required.
  • We’ll begin the process of maximising your income and wealth.
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