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Sort your property repairs 'straight away'

22nd February 2012

Many property owners across the UK are seeing that they need to make cutbacks in the currently tough economic climate.

With high inflation figures throughout the past year, increasing levels of unemployment and stagnating wages, people have needed to prioritise their spending.

A new report from the AA has found that 39 per cent of the British public has delayed property repairs or maintenance in a bid to save money in the past 12 months.

According to the report these cost-cutting measures have left homeowners with a collective bill of almost £1.2 billion, as one in five of them have experienced problems or unforeseen costs as a result of their procrastination.

Nearly a million people found that they ended paying more money than was initially needed to fix the problem due to their decisions to delay any maintenance work.

Tom Stringer, head of the group's home emergency response, said this was a worrying trend that more and more people are becoming part of.

"Home emergencies can prove expensive if homes are not maintained properly. We would suggest that apart from keeping up their home maintenance properly, homeowners should look carefully at their home insurance policy and consider a stand-alone home emergency policy for peace of mind if they are not adequately covered," he added.

These problems could be doubly worrying for landlords, not only will they see their property become worth less as a result of the damage, but the deterioration could cause tenants to move out, cutting off vital revenue streams.

In the same way that homeowners need insurance to mitigate the consequences, so do landlords.

A comprehensive and robust scheme such as freeholder insurance can be a vital asset in keeping a property habitable.

Making a simple claim will give the landlord all the money he needs to sort out any problems straight away.