Happy Landlords – The recent increase in the percentage of people renting rather than owning, and the resultant rising rents has meant that many tenants are more demanding of their landlords than they once were. Those who would have expected to buy in the past, but instead find themselves renting for the foreseeable future as the banks clamp down on credit, can be tougher customers than the students and short-term renters who once made up a higher percentage of the market. Keep them happy by keeping them warm in this cold weather, and hopefully they will reward you by staying in your property long term.
Quick fixes
If you have only just discovered that your property, or properties, need a little attention when it comes to cold weather protections, don’t worry. While it is too late now, in the middle of a severe cold snap, to make serious alterations, there is plenty you can do to patch things up while you wait for warmer weather (and the chance to fix things more permanently). If your tenants are shivering, look at whether you can do any of these:
– Look for draughts around windows and doors and seal them up with rubber draught excluder, which can be bought for a few pounds a roll from DIY stores.
– Use radiator insulation foil (or even standard kitchen foil) to make the most of the heat coming out of radiators. Simply stick it to the back of radiators, and you’ll avoid heat being lost at the back of the radiator.
– Consider putting up thick or thermal curtains. Thin cotton curtains and blinds do little to keep in heat. If you have single glazing or poor quality double glazing, good curtains could do much to help heat escaping.
Long Term Solutions
A few quick fixes can have an immediate effect on how warm a house is, but there is much more that you can do longer term. The government’s Green Deal has now been launched, meaning you have the opportunity to take out loans for improvements such as cavity wall insulation and double glazing, without having to pay upfront. The cost is paid back via the property’s energy bills, but at a rate no higher than the energy savings made. Effectively, neither you or your tenants need to pay. If you only make one improvement, choose loft insulation. It is cheap (around £200) and likely to pay for itself in around two years. When you make improvements, make sure that you speak to your insurance company and check the improvements will be covered by your landlords insurance.