The importance of property maintenance

It's important to keep your property in a reasonable condition

. After all, your property owners' insurance will expect you to do so and any claim could be reduced if a lack of maintenance contributes towards a loss taking place, or being more severe than might otherwise be the case.

But there are other reasons why this is important, not least of which is that well maintained and attractive properties can attract rents at the top end of the range for the type and size within a given area. In addition, landlords are required to ensure that their premises are safe for habitation and a number of local and national regulations will impose specific requirements on them to maintain gas and electrical appliances to an adequate standard.

There is also a risk that your landlords' liability insurance may be called upon, should a tenant (or other third party) be injured or their belongings damaged if you have allowed the premises to fall into disrepair, your insurance may not operate.

The most important issue is to ensure that all boilers, gas equipment and electrical equipment on your premises are checked on a regular basis to make sure that they comply with the latest safety standards. The principal regulations affecting let property state that all gas and electrical appliance must "be safe", all upholstered furniture must comply with safety standards and carry a fire resistance display label, the property must have smoke alarms and an Energy Performance Certificate (EPC) must be made available to a prospective tenant. You may also be covered by the Homes in Multiple Occupation licensing regulations.

It is also in your interests to ensure that the property is well maintained externally, poor guttering and down pipes can lead to physical damage and undertaking other decorations can reveal any tell-tale signs of more serious issues such as subsidence or deteriorating fabric. All these issues could affect not only rental potential, but also the value of your property investment.

You may also wish to regularly ensure that your property is properly protected by locks on all external doors and at least ground floor windows.

It's important to seek independent professional advice before making any decision about your property owners' property, liability or landlord insurance. You should always ask your insurance advisers what experience they have of dealing with residential and/or commercial rental property insurance.

The importance of property maintenance

By: Paul Buchanan

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