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Landlords’ Winter is Coming – How to reduce your maintenance costs?🥶

This entry was posted on Thursday, November 10th, 2022 by Nigel Fitzakerley

Have you felt the first chills of winter…

There’s a feel of winter in the air and I suppose the big question we’re all asking ourselves is – have you put the central heating on yet?  I’m not allowed to!!

It’s certainly going to be a testing winter for both landlords and tenants. 

Landlords are particularly under the cosh with the interest rate rises we’ve seen so far this year.  It’s going to be a difficult autumn but as we speak inflation in the US has just been released which shows inflation starting to roll over and coming in lower than expected.  If this is the case we’ll see interest rate expectations start to lower across the world and hopefully, we’re near the peak in the UK as well – so fingers crossed!

Once we see inflation begin to decline, its peak was expected to be in October, we hopefully should see the narrative turn from inflation to supporting the economy.  It’s impossible for the Bank of England to talk about anything else at the moment, but with a declining inflation rate, we should see interest rate cuts starting to come back on the agenda sometime next year.

The main costs we incur as landlords are interest and maintenance costs.  With winter arriving you’ll find all sorts of new issues due to a change in the weather.  Winds will cause problems with your fences and the rain will find ways to get in – through a broken tile, missing guttering or pointing.

So that’s why when you’re called out to a maintenance issue it’s best to have a good look around, to make sure your property is watertight and you don’t suffer significant damage due to rainwater getting in.

You can save thousands on a property by just fixing a bit of guttering or a broken tile.  

Chris our senior property manager was called out to a property for a maintenance issue and see what solutions he provided…

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