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Key Takeaways:
- Rental property maintenance includes regular inspections and preventive repairs to help ensure your property remains safe and compliant with local laws.
- Failing to maintain a rental property can take up to 45% of your gross rental income, disrupt operations, and compromise bookings.
- Effective property maintenance requires proper planning so the schedule is clear and timely, key areas are identified, and compliance rules are met.
- A well-maintained shortlet attracts more bookings, increases positive reviews, minimises void periods, and improves your rental revenues.
- Landlords are responsible for property maintenance, but they can partner with a property management company to streamline the process.
Why Rental Property Maintenance Matters
Rental property maintenance is all about caring for a real estate asset. It involves inspecting, repairing, and improving properties to ensure they remain compliant, functional, and attractive to tenants or guests.
With ongoing changes in the London property market, driven by regulatory changes and stricter housing standards, improving property maintenance is essential. The implementation of the Renters’ Rights Act introduces new property obligations and stricter enforcement of housing standards. It’s the property owner’s responsibility to ensure compliance to withstand the safety and maintenance scrutiny of local authorities.
Of course, this compliance comes at the cost of higher operating expenses.
The cost of property maintenance in London
Did you know:
Property maintenance accounts for 31%-39% of portfolio expenses, with average annual spend ranging from £19,605 (for non-HMO landlords) to £35,720 (for HMO landlords). – LandlordZone.co.uk
Reports indicate that rental property management costs range from 25% to 45% of a landlord’s gross income. This includes maintenance, management services, utilities, insurance, and regulatory compliance.
As prices of labour, insurance, and materials rise, landlords face higher maintenance costs. This makes compliance more difficult, especially for landlords with 1 or 2 rental properties.
While this makes property maintenance more challenging, landlords should consider it a financial strategy. A well-maintained rental property is not just a legal responsibility. It can be a strategic investment that will bring higher occupancy rates, better guest reviews, lower emergency repair costs, and a higher property value.
This is especially true for London shortlet owners. Guest expectations are focused on the experience, not just the rental cost. If you can offer a well-maintained property, you can meet high guest expectations and improve your property’s reputation. This can positively influence your property’s revenue performance.
Expert Tips for Effective Rental Property Maintenance
Property maintenance extends beyond repairs and compliance. It’s about protecting your property’s value, minimising operational disruption, and controlling long-term costs.
Having a structured approach to rental property maintenance helps you maintain your property’s quality, leading to more bookings and higher rental rates.
Here are tips to implement effective property maintenance for your London shortlet.
Set a maintenance schedule
Pre-plan all your maintenance schedules for the year. Plot the timing of inspections, assessments, and repairs. Some maintenance tasks are best done during specific seasons.
For instance, heating and boiler checks should be done before winter. This can be scheduled annually.
Safety inspections should be conducted quarterly, and appliance tests should be performed between guest stays.
By scheduling your maintenance tasks, you can prepare the booking calendar and associated repair costs. This will allow you to plan without disrupting bookings.
Identify key areas to monitor
When creating a maintenance schedule, include a list of key areas to monitor. Here are the important areas to focus on:
- Electrical systems like wiring, lighting, sockets, and safety certification
- Plumbing and heating, including boilers, water leaks and pressure issues, radiators, etc.
- Appliances like kitchen equipment, a washer and dryer, and HVAC systems
- Furniture and fixtures like beds, tables and chairs, sofas, lighting, fittings
- Exterior areas like doors, windows, locks, and the outdoor area
Anything that’s faulty, especially lights and electrical systems, should be dealt with immediately. Worn furniture is not an urgent issue, but it will affect the guest experience, so be prepared to pay for repairs when needed.
Keep maintenance records
All maintenance tasks should be carefully recorded and digitally filed so it’s easier to access and review. Make it as detailed as possible so future maintenance work can use it as a reference.
This will help you:
- Ensure compliance at all times
- Plan future repair or replacement funding
- Provide documents for inspections or licensing requirements
- Identify issues that need to be dealt with before it escalates
By maintaining accurate records, you can improve your property’s performance and streamline long-term asset management.
Have a network of professionals on speed dial
You need reliable electricians, plumbers, carpenters, cleaners, and other trade professionals on speed dial. Having the same person work on your property has benefits because they would have knowledge of the repair and maintenance history.
Choose people you can rely on to provide consistent work quality and fast response times. They should be willing to perform emergency repairs and charge you fairly for the work performed.
Be proactive
Being proactive with rental property maintenance means staying one step ahead of potential issues. This is called preventive maintenance.
Preventive maintenance is a proactive approach to identifying and addressing property issues before they lead to costly repairs or compliance risks.
The benefit of preventive maintenance is that it allows you to take control of your property’s overall condition. You are not reacting to repairs as they happen. You schedule it proactively, on your own terms, so you ensure it is well-funded and won’t compromise rental operations.
Best of all, you minimise emergency call-outs, which are expensive and could lead to negative guest reviews.
The Role of Professional Property Management in Maintenance
Managing a rental property and staying on top of its maintenance schedule requires time and attention. Sometimes, this is challenging for shortlet landlords who deal with guest inquiries and frequent turnovers.
Fortunately, professional property management companies like City Relay offer end-to-end services that handle both rental management and property maintenance. They can support you in different ways, such as:
- Implementing preventive maintenance schedules
- Coordinating with emergency repairs
- Handling housekeeping and turnover services
- Monitoring compliance and certification requirements
- Conducting property inspections between guest stays
City Relay’s in-house housekeeping and maintenance teams ensure properties are always ready for the next guest. All work performed on the property is recorded in a proprietary smart platform that landlords can access at any time. This allows them to stay on top of their property’s performance, including maintenance tasks, without being burdened by daily rental operations or the nuances of inspections and repairs.
Use Property Maintenance As A Revenue Strategy
Property maintenance should not be viewed as an expense but as a necessary investment to protect your real estate asset. Treat it as a revenue strategy that will keep your rental income steady, reduce long-term costs, and ensure property compliance.
By implementing rental property maintenance effectively, you can position your property for consistent performance despite looming regulatory changes.
Admittedly, this will involve time and attention. Fortunately, working with City Relay will ensure your rental property is guest-ready and compliant. This will allow you to focus on your property’s long-term rental success.
Find out more about professional rental property maintenance. We’ll help your property maintain its premium quality and stay compliant.
FAQs
What does rental property maintenance include?
Rental property maintenance covers anything that keeps your property safe, functional, compliant, and visually appealing. This includes:
- Preventive servicing of boilers and appliances
- Proactive electrical, gas, and fire safety checks (e.g., smoke alarm and carbon dioxide detectors)
- Routine plumbing and structural inspection, and if necessary, repairs
- Replacement of worn-out furniture and fixtures
- General upkeep (e.g., repainting or sealing)
The list of maintenance tasks should ensure your shortlet complies with current London housing standards.
How often should shortlet properties be scheduled for maintenance?
Shortlet properties should conduct turnover inspections between guest stays. This will allow you to identify small issues and have them fixed before they can affect bookings and reviews.
You should also schedule full-system inspections annually. This includes gas safety checks, electrical tests, heating system servicing, and structural system assessments, etc. Seasonal checks, such as summer ventilation checks or pre-winter heating inspections, can also ensure your guests are comfortable during their stay.
Timing maintenance tasks will help prevent emergency repairs and will ensure you can minimise unexpected downtime and costly out-of-hours fixes.
How can preventive maintenance improve my rental income?
Preventive maintenance increases your rental profit by reducing operational expenses, minimising booking disruptions, protecting property value, and improving the guest experience.
It prevents repairs from escalating into major damage by identifying small issues that can be addressed without urgency. If you can schedule repairs in advance, it’s easier to negotiate terms and avoid high costs.
By keeping your properties well-maintained, there’s a greater chance of getting positive reviews, better occupancy rates, and higher nightly rates. This will make your property stand out in the competitive London property market.
How can I make property maintenance easier?
Maintenance requires time and attention to detail, making it challenging if you can only manage your property part-time. Partnering with a property management company will give you access to a structured maintenance system that has been tested and proven over time.
With experts managing your rental property, you’ll get routine inspections, preventative maintenance planning, emergency repair handling, and even contractor management. Property management companies typically maintain a roster of trade professionals, including licensed electricians, plumbers, and technicians. This means response times will be faster and work quality will be consistent.
This service is valuable for shortlet properties because it can be performed between guest stays while the property is prepared for the next booking.
