While your tenants will ensure your investment is bringing you a return, there will inevitably be maintenance and repairs required at various times. Some of these will be unexpected, others you can plan for, but either way it’s important to have finances set aside to cover these costs.
Budgeting for property repairs and maintenance can be challenging. No two properties are the same—a lot of variables come into play. However, if you’re hunting for a ballpark figure, here are three formulas that might help.
Warm, dry, healthy homes are a trending topic as Labour’s Healthy Homes Bill awaits its passage through parliament. The new legislation will require landlords to provide healthy homes for tenants, but the landlord’s work doesn’t stop there.
When it comes to rental maintenance, it can be difficult to know who is responsible for what. Who is responsible for cleaning or maintaining the smoke alarms? Is it you, or the tenant? Sometimes the lines get blurry.