One of the most important tasks for a landlord is maintaining the quality and condition of their rental property. At Just Lets Peterborough, we work hard to help landlords maintain their rental property, but as with everything these days, costs are rising.

A new study by Help Me Fix suggests rental sector maintenance costs in the UK stand at £30 billion a year. Landlords are advised to put aside 1% of their property’s value for maintenance costs per year. With the current average property price sitting at £278,436; this means average maintenance costs stand at £2,784 per private property.

Landlords must budget for maintenance work

Ettan Bazil, founder of Help me Fix, comments: “Ongoing maintenance can be a sizeable outgoing when it comes to managing a rental property, but it’s also a necessity and ensures that the accommodation provided to private and social residents is fit for purpose and above board. Not only is the monetary total enormous, but the time and effort that is being spent completing these works is also a full-time commitment, particularly for management companies who are responsible for a large number of rental homes.”

Ettan Bazil continued by saying; “By allowing landlords and property managers the ability to consult, assess and advise residents on their maintenance issues via a trained professional, but in a digital capacity first, we’ve been able to dramatically reduce unnecessary expenditure and labour hours, halving annual maintenance costs in the process. Applied to the social sector alone, that’s a saving of £7bn per year should this approach be adopted on a sector wide basis, raising resident living standards in the process, not sacrificing them.”

We provide a dependable service for landlords in caring for rental property

While the use of digital apps and external parties is a good option to have, it is not a viable solution for many landlords. At Just Lets Peterborough, we aim to provide a traditional letting agent service which is equipped for the modern world.

We are more than happy to manage your rental property, and we will ensure your property is maintained to a high standard. Maintaining a rental property as issues arise, and being proactive for its care, saves money in the long run.

Caring for a rental property also enhances the sort of tenants likely to hold an interest in the property, and gives landlords the opportunity to charge a higher monthly rental price for the property. If you are looking to connect with tenants in a meaningful manner, rely on Just Lets Peterborough, and we’ll ensure you and your rental property are in safe hands.

Just Lets – Here to Help

If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.

The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond.  Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.

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Just Lets Residential Property Management was established in 1990 as a letting agent to provide good quality, reliable and professional service.

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