Keep your property in good shape and get better returns

Posted under Advice by Alan

Keeping your investment property in a good condition can help you to let them easily and tenants also prefer to stay for a long period of time. If you maintain your property nicely then it can directly impact the rental values. A well maintained property can get you a higher price because it is worth paying for a property which is in an excellent state.

There are also some other reasons that will ensure that your property is kept in order.

In order to ensure that a risk assessment has been undertaken and an emergency action plan has been instituted, the Regulatory Reform Order 2005 imposes strict duties on the person responsible mainly the property owner. This is applied to all premises like pubs, clubs and restaurants, offices and shops, factories and warehouses and common areas of houses in multiple occupation. Only the domestic premises that are occupied by a single group or family are excluded.

Additional steps must be taken by the property owners or the occupiers to ensure that the commercial premises have their fire risk properly managed because fire inspection and certification do not take place on commercial premises any more.  Suppose the property catches fire and somebody gets injured or dies, the owner will be considered responsible first. He could be held for being negligent for failing in his statutory duties.