Managing multiple properties during a cost-of-living crisis is a balancing act—keeping tenants safe and happy while ensuring rental property repairs don’t eat into your margins. Here’s how to prioritise effectively.
Non-Negotiable Rental Property Repairs
Legally Required Maintenance – Gas safety checks, electrical safety reports, and heating repairs/boiler maintenance are non-negotiable. Failing to address these could land you with hefty fines—or worse, put tenants at risk.
Leaks & Damp – Small leaks quickly become big problems. Water damage can lead to disputes with tenants and even legal claims if not handled quickly.
Security Issues – Broken locks, faulty entry systems, or unsecured windows put tenants at risk and could breach your duty of care.
Heating & Hot Water Failures – A broken boiler is not just inconvenient—it’s a potential legal issue under the Landlord and Tenant Act.
Where to Cut Costs Without Cutting Corners
Planned Preventative Maintenance (PPM) – Regular servicing of key systems (boilers, electrics, plumbing) can prevent costly emergency callouts.
Bulk Repairs & Trusted Tradespeople – If you manage multiple properties, establish relationships with reliable tradespeople who may offer discounts for repeat business.
DIY When Safe & Practical – Minor jobs like re-sealing bathrooms or patching up small paintwork damage can often be done in-house.
Budgeting Smart: How to Plan for Repairs
- Set Aside a Contingency Fund – A good rule of thumb is to allocate 1% of the property’s value annually for maintenance costs.
- Consider Landlord Insurance with Maintenance Cover – Some policies offer financial protection for unexpected breakdowns.
- Be Proactive, Not Reactive – A “fix it when it breaks” approach usually costs more in the long run. Schedule inspections and deal with small issues before they escalate.
Final Thoughts
Whether you’re a property manager or landlord juggling multiple properties during the cost-of-living crisis, knowing where to spend and where to save can make all the difference. The key? Act fast on essential repairs and be smart about cost-saving strategies.
Need expert advice on emergency repairs? Emergency Hero is here 24/7 to help—without ripping you off.
Call us now on 07457 411 865 or find out more HERE.