Emergency property issues are bad for both tenants and landlords, so the best way to avoid these potential emergencies is to take precautions before they happen. When you have done everything you can to significantly reduce the likelihood of an expensive, dangerous, or life-threatening emergency, you can sleep comfortably at night.
Regularly perform these safety inspections on your Property
Legally, you must have a gas safety certificate every year. Among all home safety certificates, it may be the most obvious and well-known, but only a few people are aware that it also applies to all other gas appliances besides simply your gas boiler.
Every five years, a licenced electrician must inspect and test all fixed electrical appliances.
Check the Fusebox
It’s best to talk about this with a licenced Electrician if you plan to rent out your home because you might discover that the current fuse box is outdated and isn’t compliant with current safety regulations.
Install Smoke Alarms
Every floor must have one, which is required by law, and it is not expensive. Without them, there is a risk of catastrophic damage that could result in death and, if installed improperly and neglected, could impact insurance coverage. Every room that has fixed fire equipment (gas stoves excluded) and is utilised as a living space should have a smoke alarm (carbon monoxide) installed.
- Clogged Drains – Flooding from clogged drains can sometimes result in expensive repairs and damaged properties. The only thing you need for prevention is a bottle of drain cleaner, which you can purchase at any grocery.
- Insulating Pipes – Another inexpensive technique to avoid an emergency that might be extremely expensive is to insulate your pipes. In the winter, pipes shrink in the cold before heating up once they are used. They might eventually crack as a result of this constant use, which would result in a larger money leak!
It’s always a good idea to include a condition in your tenancy agreement allowing you to inspect your rental home within 24 to 48 hours of requesting written authorisation. The fact that you cannot legally access the property without the tenant’s consent means including the condition enables you to periodically inspect your property should an emergency arise.
A private residence policy will not protect you if you rent out your property, which is a significant difference from traditional home insurance. In the event of catastrophic risk, a good landlord insurance policy will be well worth the money because it will cover almost any potential risk, including damage, loss of rent, legal fees, and more. For the best level of protection for your investment property, a good talk with a trustworthy insurance provider is time well spent.
Make it happen and Contact Us
These safety measures are a no-brainer in terms of investment because they will keep your rental property secure and keep you informed of any maintenance or repair concerns that may be developing before they become significant problems. The good news is that all of this can be done by experts, including electricians, gas engineers and insurance brokers. Making contact with the appropriate people straight away won’t take long and might help you save a lot of money!