Being a landlord and managing rental properties can be a challenging task. There are many different factors that you need to consider and tasks that you must perform.
From finding the right tenants to making sure you have the right insurance, there’s a lot to consider when you become a landlord.
Among your main concerns will be the safety of each and every one of your properties. There are many aspects of safety that you need to think about, so keep reading, and we’ll explore some of the most common.
Electricity is a volatile and potentially deadly element, which also runs throughout almost every modern property. As such, you need to make sure that that the electrical systems in your rental properties are checked and certified as safe. Electrical experts such as Trade Facilities Services can provide an electrical condition report that shows you and your tenants that your property is safe and that your wiring conforms to current safety standards.
Fires, either natural ones or ones caused by your tenants, can cause significant damage to your property. In some cases, fires can completely gut your property and leave you with a substantial bill. While most insurance policies cover fires, it can take a long time to make a claim, and in the meantime, your property will be uninhabitable.
Therefore, you need to make sure that you reduce the chances of fires causing significant damage. You should also offer safety solutions to ensure that even if a fire damages your home, your tenants can still get out alive.
Make sure that all materials used in your property are safe and compliant with relevant legislation. It would help if you also considered adding fire extinguishers and other safety equipment to keep your tenants safe in case of a fire.
Flooding And Natural Disasters
Flooding and other natural disasters can be devastating to both your property and the lives of your tenants. Due to global warming, floods are more likely to be more severe in the future, so landlords need to be prepared for them now.
Make sure that you understand the risk of flooding to your property and see if there are ways that you can reduce your risk, such as installing flood barriers.
While a burglary might not affect you as a landlord, particularly if the thief doesn’t break the structure of the property and only takes the tenant’s belongings, it could still have a negative impact on your business. If prospective future tenants see that your property has been broken into regularly they might be wary of renting it.
Also, there is the risk that the criminals will damage your property or steal large appliances that belong to you, such as fridges and freezers. Therefore, you should try to offer security features, such as motion-senor lights and possibly CCTV, to your tenants.
This approach could not only keep them safe, but also allow you to charge more rent for your property.
Carbon Monoxide Leaks
Carbon monoxide is a lethal and invisible gas that can quickly kill people if it enters a property. The gas is produced when traditional fuels, such as gas, coal or wood, don’t burn properly. As these are common fuels for most homes, your tenants could be at risk.
By law, UK landlords now have to install and maintain carbon monoxide detectors in rental properties. Make sure you know your responsibilities and meet them to ensure the ongoing safety of both your property and your tenants.