It’s not easy being a landlord these days. Despite the protestations of certain sections of the media, managing a property or property portfolio is a full time job and one which is becoming significantly more challenging. Increasing bureaucracy and punitive charging and regulations imposed on the sector means that any decision must be carefully considered.
This week it was announced homebuyers borrowed £17.9bn last month, the highest January total for eight years, as buy-to-let landlords rushed to beat forthcoming tax changes.The Council of Mortgage Lenders (CML) said that was 21% higher than the amount lent in January 2014.
Experts said it was partially a result of buy-to-let landlords looking to beat April’s tax changes. When the new tax year starts, most landlords will pay a 3% surcharge on stamp duty on property purchases. In addition the CML said real wage growth, falling unemployment and competitive mortgage deals were all stimulating borrowing.” Lending started the year on a positive note,” said CML economist Mohammad Jamei. However, he said the outlook for later in the year was not so good. ”We still only see limited upside potential going forwards, as the number of properties for sale on the market remains low and affordability pressures weigh on activity,” he said.
This is important to landlords because managing fixed costs such as maintenance become even more crucial. We know the problems well because we are seen as trusted provider to both landlords and letting agents. Property maintenance and in particular reactive and managed maintenance are crucial to the success of any long term let and are vital to creating a sustainable investment proposition. Long void periods caused by disputes, end of contract reactive maintenance and compliance issues can create a real headache for Landlords. With a renewed emphasis on regulatory compliance simple tasks such as PAT testing and ensuring fire and smoke alarm safety can cost landlords dear, resulting in fines and in some cases criminal convictions. Trust is imperative. There have recently been some well highlighted cases of unscrupulous providers charging exorbitant costs to landlords for simple maintenance tasks such as changing a lightbulb! in one unfortunate incident an overseas based Landlord received a nasty surprise when he was charged over £600 for such a task!
Fortunately there is an alternative. www.0800handyman.co.uk have built a long and proud tradition on working with and helping landlords. Whether you need to talk through a simple maintenance task requested by your tenants or put together a comprehensive maintenance schedule for your property business we are here to help you.
Don’t just take our word for it listen to a review from a long-term customer and landlord recently.
“My husband and i have been using 0800handyman for our lettings business for years now, we live in the country and rely on the office staff to take charge and assist us in our time of need, The handymen we get are well informed and always get the job done, Pleased to write this review for you”. (Anna – Oxford)
To find out how we can help you as a landlord please visit http://www.0800handyman.co.uk/landlord-services/