Landlords tend to have a reputation for wanting to build her portfolio as quickly as possible, sometimes at the cost of their tenants. However, a recent study has shown keeping their properties well-maintained is one of the most important priorities for buy-to-let investors in the UK.
According to the Buy to Let: The Landlord Experience report from The Mortgage Lender, property maintenance, care of property and tenant behaviour are the top things that worry those who let out real estate.
This includes making sure the roofs are in good condition, cladding is restored and repaired when needed, windows are well-looked after, and gutters are cleared. By not looking after these things, it will detrimentally impact the quality of life for residents, as well as cause damage to the property in the long-run.
The Mortgage Lender’s deputy chief executive Peter Beaumont said: “Our special report provides an in-depth guide to the buy-to-let market, including landlord obligations and yields around the country.”
The findings, based on a panel of residential landlords, also revealed 84 per cent are looking to maintain or increase the number of properties they own over the next year.
They also revealed 45 per cent of landlords have between two and four properties, and just 16 per cent want to sell off some of their portfolio over the next 12 months.
It is not just lettings that have to be kept well-maintained, as public buildings need to be properly looked after so they stand the test of time. This is why Prime Minister Boris Johnson has recently pledged £1.8 million for the NHS to improve its building maintenance.
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