The 3 big heating maintenance excuses landlords make that stop them maximising rental opportunities
Posted by PHG Mechanical Last updated 9th February 2021 reading time
As a landlord, achieving a return on your investment can be impacted by a number of factors. In general, these tend to be connected to larger appliances around the home - including boilers and other heating essentials. It is your responsibility to organise regular maintenance of these items to help make the most out of your rental opportunities. But, it’s not uncommon for landlords to come up with a number of excuses as to why they won’t do this.
Essentially, this is self-sabotage. After all, a well-maintained heating system in your rental property will help you achieve much higher monthly income than one that is left to fall apart. And, large repairs to the heating elements of your home can result in even larger bills. If this sounds like you, keep reading. We’re going to cover three of the main excuses landlords give and why you should turn your back on them today.
Do you ever find yourself saying any of the following?
I just don't have a great cash flow at present
I am not up-to-speed with technical and legal requirements for my property
I am spending more time fighting-fires than enjoying my property income
Let’s take a look at each of these points above and find solutions to ensure you make the most of your investment.
1. I don't have a great cash flow at present
Being a landlord is costly, there are no two ways about it. In order to make a decent monthly return, you need to present a beautiful, clean and easy-to-maintain home. This way your property becomes more attractive to potential tenants. Coming from your own pocket, it’s likely you’re paying out for:
Landlord insurance
Relevant taxes
Letting agent fees
Accountancy fees
Add on heating maintenance fees and it’s a pricey expenditure to take into account.
However, investing in your property helps in a number of ways. It ensures you don’t have to pay out for significant and costly repairs that aren’t flagged early on. It also helps to keep tenants happy and, therefore, living in your property for longer. Keeping boilers, radiators and other heating essentials in full working order helps to ensure you’re not making a loss every single month. So consider checking whether you can save money on other premiums around the home. Or, sign up to a monthly maintenance package with a trusted, local company to help spread these costs out.
2. I am not up-to-speed with technical and legal requirements for my property
If you’re renting out your property through a letting agent, speak to them. These professionals work with hundreds of landlords every single day. They are required to keep up to date with the most recent legal requirements and pass this information on to you. Consider the following:
You must supply the tenants with working central heating or alternative equipment for heating in every occupied room. This includes having a working boiler available for heating water.
Under the Landlord and Tenants Act (1985), you are responsible for repairs and replacements to any heating equipment in the home.
You must ensure your tenants are not left without heating for more than a few days, without being informed of the repairs process.
3. I am spending more time fighting-fires than enjoying my property income
If you choose to put your investments in a rental property, you have to ensure this is well-managed. No one ever said being a landlord was easy – there is a huge responsibility on your shoulders. Make sure you’re aware of this commitment before you opt for this additional form of income.
It’s likely that you’ll feel a little swamped by everything that’s expected of you at first. And, the more properties you add to your portfolio, the more responsibility you have. Rental income isn’t easy to come by, but when a property is well-maintained and cared for, you’ll be in a better place to enjoy the fruits of your labour.
Have we given you a push?
It’s easy to feel like the demands of being a landlord are weighing heavily on your shoulders. And, with everything else you need to juggle, it’s no wonder so many people in your position put off essential heating maintenance jobs. But it’s also vital that you look after your investment and ensure tenants are kept happy.Â
The team here at PHG Mechanical cover all forms of heating maintenance, from boiler repairs and replacements through to central heating services. We are available 24 hours a day, 7 days a week and provide fair prices for all jobs. We’re here to help you get the most out of your rental property. And, our services support the work of busy landlords so you can sit back and enjoy the benefits that come from this venture.Â
If you would like to discuss a project or learn more about our services, pop over to our website for more information. Â
