We all have priorities in our lives, although at times these may be in slightly the wrong order.
If you are a landlord, your properties are important due to being a great source of income, and is an asset for you long-term. But how much time are you investing in it? How often do you go and check that everything is OK with it?
A new infographic by Simple Landlords found that just a quarter of landlords only check their houses once – or not at all – in a whole year. Therefore, they are putting their investments at risk.
However, life’s distractions get in the way and it can prove difficult to keep checking on your properties regularly. Did you know, for example, that the average person visits the cinema 6 times a year. If landlords cut out just one of those visits, they would be able to check up on their properties and potentially save themselves thousands of pounds each year! Even just 10 minutes could spot an issue and that could get far worse if left unchecked.
Simple Landlords Head of Operations Alex Huntley said:
“We always recommend regular and reasonable inspections to ensure there are no problems which could cause more serious damage long term. Keeping an eye on your tenants and making sure they’re looking after your property can avoid a multitude of problems! “It’s also important to check your insurance policy to make sure that inspections aren’t part of the requirements of your cover.”
Of course, landlords do not need to sacrifice all the fun things in life. Simple Landlords have created an infographic detailing how much time we spend on different things throughout the year, and maybe some of these could be scaled back in favour of inspections.