Even with the property market’s ups and downs, property itself is still a sound investment in many areas of the UK. Many buy to let investors convert single properties into multiple, self-contained dwellings.
This can have an impact on the demands on the water supply, which should mean including replacement water mains as an essential part of the redevelopment work.
Are You Confident in Your Pipes?
Clearly, for property investors, the bottom line will be key and they want to maximise the return on their investment. This may then put them off wanting to invest in certain aspects of the property’s utilities, such as the water supply.
But in the long-run, it makes sense to look at the less glamorous, behind-the-scenes elements. The cheaper option is to simply arrange for the new tenants in your split property to split the existing water utilities costs without making changes to the mains supply.
The landlord, however, must consider whether they have full confidence in their property’s pipework.
The existing system may not cope with the increased demands on the water supply of two tenants.
What to Check For
How old is the property? If it was built before 1970 then it may have lead pipes. If the pipes are lead, this is a clear indicator of the pipework being old, and therefore less likely to be reliable.
There are also health issues associated with lead pipes, which, as a responsible landlord, should concern you.
What if the water pressure cannot cope with the increased demand once you’ve converted the property for two or more tenants? This may affect your ability to attract or retain tenants.
There is also the issue of ongoing maintenance: old pipework could be a near-constant drain on your resources, should you need to keep getting it inspected and repaired.
A Sound Investment
If you’re investing in property, why not also invest in ensuring its utilities are up to date?
You want a good return on your investment – the rental value of your property minus the monthly cost of your buy-to-let mortgage – so protect its value.
Invest in your property conversion by getting a replacement water mains, and help to maximise your rental value.
Act now for your property investment by contacting Pipeline Services.