One type of call landlords and letting agents never like to get from their tenants is the one to say that the boiler has stopped working!
Some of the time this can be resolved quickly, at least temporarily, by the tenant topping up the water pressure which they should have instructions for or can be talked through over the phone.
If this is not possible though, what is the quickest and most cost-effective way to get the problem resolved?
Many landlords opt for a landlord boiler insurance included in a Maintenance Plan from one of the large service companies, for which they pay a monthly fee. The amount usually varies depending on the level of cover. Others simply call-out an engineer, or get their agents to do this, whenever a problem occurs.
Monthly fees for maintenance plans can seem relatively insignificant but over time these can really add up, especially if they are for “full system” cover. We recently spoke to a new client whose monthly fees, if added up, would have allowed her to buy a new boiler every four years! Needless to say we advised her to look for an alternative.
Most boiler manufacturers nowadays offer very good warranties, in some cases up to seven or eight years for new boilers as long as you make sure they are registered when installed. As with vehicle warranties these give no charge fixes for problems occurring with the warranty period.
On the other hand, if you have an existing boiler that is a bit old and inefficient but you don’t have funds to replace right away, then a landlord boiler insurance included in a maintenance plan can be a cheaper way of handling faults which are more likely to occur and may also be the best way to keep your tenants happy, as you can take advantage of a 24/7 call-out service.
As letting agents boiler cover is something we look at and advise landlords on. Keeping on top of these costs as well as minimising any boiler downtime is good for both landlords and tenants.
Please get in touch with us if you would like more information about the services we offer to landlords.