Our property accountants appreciate that the landlords in our client base want to maximise their return on investment – whether that comes through avoiding paying unnecessary property tax, or boosting yields and capital gains.
But one thing you might want to make sure you do is very simple, if a little old-fashioned – get to know the neighbours.
Research from Admiral Home Insurance reveals that four out of ten people wish their neighbourhood could be more neighbourly, yet less than a third of us bother to introduce ourselves when moving into a new area.
Just one in six people have ever ‘popped next door’ to borrow an essential ingredient like the classic cup of sugar.
And that could be leaving property at risk, as more than half of those surveyed admitted they don’t tell their neighbours if they are going away for a few days, and only a quarter would trust their neighbour with a spare key.
While you might not be living in your property if it is part of a rental portfolio, it’s still worth introducing yourself – whether to get the neighbours to keep an eye on the property during void periods, or to call you if your tenants are being unruly.
Our property accountants know that ultimately, it can be better to be made aware of any such issues so you can take swift action, to avoid costly repair bills if those tenants leave behind a trail of destruction.