Landlords Corner – Summer Subsidence Concerns For Landlords
For many people, summer is the season of fun and relaxation. If you are a landlord, the summer months are often the busiest of the year. If you engage in the student market, this is often the time you work hardest, preparing your rental accommodation for the new academic year.
For other landlords, the warm weather and giddy temperatures pose problems that don’t arise at other times of the year. This is why it is vital landlords are prepared for fresh challenges in summer, but this is why our clients rely on us. At Trading Places, we stay in touch with the difficulties landlords face all year round, taking care of problems before you even know an issue arises.
Summer months pose fresh challenges for landlords
One issue of interest comes from a study undertaken by Simply Business, a landlord insurance provider. Their records indicate subsidence claims doubled in 2022, with the highest volume of claims occurring in August and September. If this happens again in 2023, landlords face a tricky time, but with our help, you will be ready for anything.
The company holds insurance policies for more than 400,000 landlords and subsidence claims are made when the ground around the foundations of a property sink. This happens during the summer months, partly because dry and warm ground shrinks.
Landlords and proactive tenants should be on the lookout for a number of occurrences at their property, but of course, our landlords can relax, knowing we know what to look out for. Potential signs of subsidence include:
● Cracks in the wall that are greater than 3mm wide
● Cracks in the ceiling or under windows
● Cracks outside the brickwork at a property
● Plaster cracking or wallpaper crinkling around the ceiling area
● Doors and windows sticking or not closing easily due to warped frames
These outcomes can happen for many reasons, but if a number of these problems arise at the same time, it could be a sign that your property is subsiding. If that is the case, rest assured we will swoop into action, preserving your rental accommodation.
Alan Thomas, UK chief executive at Simply Business, says: “With temperatures already soaring to 30 degrees in some parts of the UK this month, landlords need to prepare themselves for the side-effects this could have on their properties. Subsidence occurs when the ground sinks around the foundations of a house – and it can happen when the ground becomes dry and shrinks. So inevitably as the weather gets warmer, and there is less rainfall, the causes of subsidence become more common.”
Alan concludes by saying: “Subsidence can have a substantial monetary cost and depreciate the value of a property quickly. It’s important to monitor and deal with it early.”
We are always here to help
Many landlords struggle with paperwork, and staying on top of legislation, but we are here to assist you, ensuring your tenants receive everything they need in your rental property. If you are looking for guidance on the Leytonstone rental market, or you just want a helping hand in complying with rental market regulations, we are always here to assist you.
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