Almost half of pensioners plan to take advantage of the new reforms outlined in the recent Budget by investing in property, according to research by the Bank of Ireland. Many of these purchases are expected to be in the buy-to-let marketplace, with over two thirds of brokers expecting a significant increase in new landlords from next month onwards.
Becoming a landlord for the first time can be a daunting process, especially when it comes to kitting out the property. Alan Ritchie, managing director at PC World Business, offers advice to first-time landlords on choosing, budgeting for, and maintaining appliances and electrical equipment.
Choosing appliances tailored to your property
Before choosing appliances, it’s important to think carefully about the specific needs and size restrictions of your property. Laundry and kitchen appliances come in all sorts of sizes, and with various capabilities. There are plenty of options available which will allow you to make the most of the space you have.
For example, to save space in a small flat, landlords should consider two-in-one, slimline, or built in laundry and kitchen appliances. Washerdryers, such as the LG washer dryer, are perfectly suited to a smaller space and are often more energy efficient than a separate washing machine and tumble dryer. To save space in the kitchen, integrated built-in fridges, such as the BOSCH Classixx or the BEKO BL21 Integrated UndercounterFridge, sit perfectly behind a cabinet door while still providing ample storage space.
Before you buy, it’s worth spending time comparing products online or in store, and seeking advice from professional retail advisers.
Keeping your appliances safe and protected
As a landlord, you are responsible for the safety and maintenance of the electrical equipment and appliances in your property. It is therefore advisable to buy new products and to source these from a reputable supplier.
In order to ensure all appliances and electrical equipment are correctly installed, it is worth seeking help from a professional. There are a range of delivery and installation services available to property owners to suit budget, levels of service needed, as well as time constraints.
Property owners will also want to ensure that when things go wrong, they are fixed as quickly as possible to prevent from long-term damage. Depending on your needs, you can choose a one off repair service, or choose to be protected by a longer term plan.
Budgeting and saving
Kitting out your new property can be financially stressful. However, there are several ways landlords can cut down on costs.
Firstly, to maximise value for money it’s definitely worth checking whether appliances can be sourced from the same place. Combining purchases into one large order can help reduce both delivery and installation costs.
It is also worth considering a leasing plan. This will enable you to stay up to date with the latest equipment, whilst spreading the cost.
*Alan Ritchie is managing director of PC World Business
**The Spring Business Event at PC World Business is on. A range of deals, discounts and offers on appliances and services are available. For more information, please visit: https://www.pcworldbusiness.co.uk/
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