Why It’S Time Thanet Landlords Conducted A Property MOT
16/07/2022 12:00 AM 0

 We’re all familiar with an MOT, an annual check-up to ensure your car is safe and good to go for the year ahead. Well, let’s apply the same concept to a buy-to-let investment. 

 

Even if your current tenancy is ticking along nicely, a property MOT can be a helpful exercise to ensure that you:

 

  • Are up to date with government regulations and maintenance
  • Have the right rental strategy
  • Are not spending more than you need to on your mortgage and repairs.

 

So, let’s go!

 

Do the maths

Go through your records and calculate your return on investment and rental yield (there are online calculators to help you do this). See if you can identify any possible savings (consider everything from landlord insurance, mortgage deal, accountancy fees, etc.). Even if these gains are small, they all add up.

 

Repairs and maintenance

Often tenants are reluctant to raise minor concerns for fear they’ll look petty or get the blame, so don’t wait for them to call you. Be proactive and get on top of any leaks, mould or drainage problems. Ensure you’re up to date with mandatory gas and electrical safety checks.

 

Energy efficiency

We all know energy prices are soaring. Ensure your property is well insulated and draught-proof. Don’t wait until the winter to get this job done. And think longer term, as new energy property rules are on the horizon.

 

Décor review

Times change, but has your property? If your property looks tired and dated, you could be missing a trick. In some areas, the pandemic brought about a huge demographic shift that is being reflected in the rental market. Consider a cosmetic makeover or garden spruce-up so that you can target groups such as professionals, relocators or young families.

 

Property management

A property MOT isn’t just about money; it’s about time, too. If you self-manage, analyse the true cost of this task on your quality of life. If you’re finding the admin and legal requirements increasingly onerous, get a letting agent to take the burden off you. An agent’s expertise and market know-how may also save you money in the long run.

 

If you already have a letting agent, consider the quality of service you’re getting. Are your calls answered promptly? Is your agent meticulous when it comes to maintenance deadlines and routine checks? If you’re not happy, it’s time to shop around.

 

To learn more about the property management services we offer here at Cooke  & Co Estate and Letting Agents get in touch.



Please Click Here to link seamlessly to hundreds of interesting community and property-related articles, videos, and pictures on our local blog/property insights page, Thanet coastal interactive tour, Up to date latest properties for sale and to rent, and much, much more.

Before you go we would love you to comment or like this article. Please feel to give your thoughts, helpful comments or even suggestions of articles you would like us to write about.

Leave a comment

Add Comment

Search

Categories

#Internet1 #Landlord1 #Letting1 #Tenants1 1952Tonow1 202137 202288 20501 Advice109 Ai1 Airbnb2 Alarm1 Amazing Apartment1 Aprilfool3 Arla1 Beaches1 Bitcoin2 Brexit2 Broadstairs7 Builders2 Building3 Bungalow1 Buyer1 Buyi1 Buying46 Buytolet19 Care1 Carehome1 Celebration2 Charity2 Children2 Chooseanestateagent1 Christmas4 Cleaning2 Community4 Compromise1 Conveyancing1 Costs2 Council1 Covid 194 Crash1 Crime1 Crisis1 Customers19 Debt1 Decore1 Deposits1 Developers4 Divorce1 Diy6 Downsize1 Education1 Emptyhomes1 Energy3 Epc3 Eu1 Eviction1 Families1 Figures2 Financialservices9 Firsttimebuyer1 Flat1 Follow The Sun1 Foocbank1 Football1 Forsale2 Fun16 Furnished1 Future3 Gadgets2 Garden1 General26 Globalwarming1 Golf1 Govenment1 Green1 Hacks1 Happyeaster1 Help3 Helptobuy2 Helptosell1 Holiday2 Holidays1 Home1 Home Automation1 Homeimprovement6 Homesunderthehammer1 House4 House Price3 Houseplants1 Houseprices8 Housing1 Illegal1 Improvements1 Inflation6 Inspections1 Inspiration1 Insurance1 Interest1 Interestrates1 Interference1 Investment11 Jargon1 Kids1 Kindness1 Kitchen1 Landlord61 Landlords3 Legislation14 Letting19 Lifestyle1 Limited1 Local3 Love1 Maintainance5 Management5 Margate1 Marketcommentry3 Mentalhealth2 Modern1 Money1 Mortgages10 Moving1 Movingtips13 Mumanddad1 Naea1 Negatives1 Negotiation1 New Builds4 Newbuild1 Newhome1 Newnormal2 Older1 People1 Pets1 Photos1 Planning1 Plastic1 Portals1 Price2 Prices3 Profit2 Property5 Ramsgate6 Redtape1 Reduction1 Relax2 Relocation1 Remortgage2 Rented4 Renting4 Rents10 Repairs4 Rightagent1 Risingprices1 Rubbish1 Safety1 Save1 Savemoney1 Scams1 Schemes1 Schools1 Schoolsout1 Seaview1 Security1 Seller2 Selling63 Service2 Sizematters1 Social1 Sofew1 Sold3 Spain1 Spare Room1 Statistics21 Stats11 Staycation1 Stress6 Success1 Tax3 Team1 Tech3 Tenancy2 Tenant10 Tenants2 Thanet19 Thankyou1 Time1 Tips3 Tory1 Tour1 Trends8 Tv1 Unfurnished1 Unique1 Vendor26 Wfh1 Windows1 Working1 XMAS9

Tags

#202213 #Landlord2 #Nationalgardeningweek1 #Nationalgardeningweekj0 #Tenant2 19521 20204 2021148 202299 20501 24 Hours1 7 Days1 Abroad1 Advice110 Aerialtour1 Airbnb1 Aprilfool2 Arla1 Arrears2 Award1 Bestpractice1 Bitcoin1 Boomers1 Brexit5 Broadstairs9 Budget1 Bungalow1 Buy3 Buying8 Buying Process1 Buytolet7 Capital Gains3 Care1 Carehomes1 Cash1 Charity3 Children2 Chocolate1 Choosing1 Christmas9 Cleaning7 Community1 Comparison1 Condition1 Congratualtions1 Cooke & Co8 Cost1 Costofliving1 Councilhouse1 Covid 198 Crash1 Crime1 Customerservice14 Debt1 Decore2 Developer3 Development3 Divorce1 Diy4 Dogs1 Downsize1 Dss1 Electricity1 Eliots Close1 Emergency2 Energy4 Enviroment1 Epc2 Equity1 Estateagent1 Eu1 Eviction1 Families1 Family2 Figures1 Finance3 Firsttimebuyer6 Foodbank1 Forecast1 Forsale1 Fraud1 Friends1 Fun15 Fun Advice1 Future1 Gadgets2 Garden5 Gas1 Gen1 General12 Good News1 Goodestateagent2 Green1 Guarentor1 Hacks1 Handytips2 Happyeaster1 Happynewyear1 Help2 Helptobuy1 Historicprices3 Hmo1 Holiday1 Holidayrent1 Home2 Homeowner10 House Prices25 Houseplants1 Houseprice10 Inflation8 Inheritance1 Inpection1 Inspiration1 Instagram1 Insurance1 Interest3 Interestrates1 Internet1 Inventory1 Investment9 Jargon1 Kids1 Kitchen1 Land1 Landlord74 Landlords2 Lanlord0 Legislation15 Letting5 Lettings1 Lifetime Deposit1 Limited1 Local3 Love1 Maintain1 Maintainance1 Margate9 Marketing2 Mature1 Mentalhealth4 Mistakes1 Mortgage10 Mot1 Moving2 Mulitigenerational2 Myths1 Negative1 Newbuild3 Newnormal4 News1 Notice1 Online1 Paperwork1 Parents1 Pets2 Photographs1 Planning2 Plastic1 Portals1 Pricerise1 Prices1 Probate1 Process1 Profit1 Property10 Ramsgate7 Referb1 Reference1 Relocation1 Rented3 Rents14 Reolutions1 Repairs4 Review2 Rightmove1 Safety1 Scams1 Schools1 Security1 Sell1 Seller2 Selling41 Selling Process2 Selloff1 Shopping1 Sizematters1 Social1 Sold3 Solicitors1 Spain1 Special1 Spring7 Stats10 Staycation2 Stress2 Styles1 Supply1 Support1 Tax2 Team1 Tech3 Tenancy1 Tenant8 Tenants0 Terraced1 Thanet33 Tiktok1 Time1 Tips7 Torent1 Trends2 Tv1 Valentine1 Valuation2 Vendor19 Whychooseus2 Windows1 Winter3 Workfromhome1 Xmas7