Landlords have legal responsibilities to uphold, and the task of ensuring that rental properties are fit to live in is among the most important of these. Within this, the need to keep your property safe is paramount.
If you’re a landlord and you don’t take pains to safeguard your tenants, then you may be liable for prosecution or find yourself joining the list of rogue landlords banned from letting property.
Although you can count on commercial landlord insurance to help pay compensation should a tenant suffer an injury, it’s still best not to let such disasters happen in the first place.
So, what do you need to do in order to avoid penalties and minimize risks to your stream of rental income? We’ve written this quick guide to keep your property safe with that question in mind. Keep reading to find out how to keep your property safe.
One of the easiest ways that you can reduce the risk of injuries taking place on your property is by tackling repairs as soon as they’re needed. When these are put off, the issue in question degrades further over time and has a higher likelihood of turning into a genuine hazard.
For this reason, it’s also often cheaper to make repairs earlier. This is a point worth bearing in mind since delay in carrying out repairs is often due to landlords wanting to avoid the extra expense. Really you should factor in maintenance when you calculate your rental income.
Building maintenance goes far beyond structural or superficial repairs. Make sure to keep an eye on the condition of each of the following elements at your properties:
Security cameras aren’t as expensive as they once were. More importantly, they’re the perfect way to give you and your tenants peace of mind and an extra sense of security. While cameras placed inside the property would be a breach of your tenants’ privacy, you can still place them outside in alleys, doorways and even backyards to improve safety.
Some landlords like to have a direct approach and there are advantages to this. If you have many properties in your portfolio, however, then you will likely find it difficult to keep an eye on each one.
In this case, it’s a good idea to hire a property manager. They can take over the inspection and upkeep of your properties to make sure that everything is in good condition. Having a dedicated set of eyes on a rental is one of the surest ways of keeping it safe.
Meeting all your responsibilities as a landlord can be difficult but, all the same, it’s critical that you do so. Follow our tips above to ensure that you keep your property safe.