Hi Blackgrouse,
I'm delighted to share, but I will begin by saying that the type of property doesn't come into the equation for us, the common denominator is that people matter.
I'm pleased to see that you provide some firefighting apparatus and I would encourage you to do the same at home, but to answer the questions you have raised, especially as to why when our efforts seem quite strange I will try my best.
Firstly the Fire aspect; I spent over eight years working in the fire industry and know how quickly and easily a fire can start, spread and kill - that is why I take the precautions I do.
Often it's simple things like means of escape, protected spaces, early fire detection, thumb turn lock to get out, emergency lighting. I mentioned FD30 fire doors. They cost around £30 more than regular doors, so not a big expense that could save a life.
We install detectors in vestibules, the main living area, top and bottom of stairways, each bedroom, Carbon Monoxide detectors anywhere where there is a gas appliance.
I have deliberately tried to not mention recent events in my posts as they are deeply upsetting, but you can see why life is so important, especially before profit.
Security: at the rear of our property we fit two LED PIR Floodlights. We install two at the rear in case one fails, which means we can always provide outdoor lighting while any defective unit is replaced.
We did the dual option in the days of tungsten filament type units which seem to go with no predictability. The LED ones are more reliable, but we install two as it makes good sense to do so.
At the front door, we have a courtesy lamp so that you can see who is at the door when its dark outside.
As for CCTV and a security alarm system, who wouldn't want the benefit of these items?
Insulation: The use of insulation has had a measured effect on the reduction of CO2 and in the consumption of fossil fuels. It also means that peoples outgoings are less in one of our properties than say a house that hasn't had these measures taken.
We insulate on the inside of the building as research has shown that blown insulation into the cavities can create void areas that ultimately lead to cold spots on walls. If rock wool is used, there is an additional acoustic benefit to be gained; especially useful for noisy neighbours.
I could continue at length on what we do and why, but I guess you also want to learn more on the financials; again I'm more than willing to share this with you and others.
We don't mind taking the financial hit the first time around; that is why we gut property back to brick and start with a blank canvas. Once you have a fixed approach to a job, then the final cost is more predictable.
We will recover the initial costs down the line. Its a little like the tortoise and hare story. We will surpass the hare at some point and continue to outperform as we don't have the headache of maintenance, tenant churn and so on.
How can we afford to do this?
A lot of landlords have borrowed money to purchase a property and so the time clock begins ticking as repayments are required to cover the loans.
Landlords can often ill afford the empty property tax, the lack of income streams never mind taking on a comprehensive refurbishment which can be eight weeks or more.
A loan/mortgage will require servicing, and this leaves a small amount of operating capital for the landlord. This is perhaps why we see so many landlords struggling to maintain their housing stock.
Introduce the latest tax rules effecting the interest that is repaid on a buy-to-let property then you have a ticking time bomb.
Here is how we approach it: We purchase outright the property so that we don't have any outgoings on repayments. We can then afford the luxury of time to do what is often necessary. We are not effected by the introduction of the latest tax rules effecting relief on interest repayments because we don't have any borrowings.
The rents can be affordable, or low as some may say because we are not handing over a large proportion of the income to a lender such as a bank.
I recognise that not everyone can afford to do this, but then it raises the question why they are in the market at all and if they can survive the latest changes in tax law.
As I have said previously, our approach means we cannot upscale our property portfolio, but what we do have is quality rather than quantity. We have lovely homes that people embrace as homes, and we have few void periods, and we know that should be something terrible occur that we did everything we could.
As for the ability to do what we do financially, we work extremely hard across all of our businesses and as I type this at 8 pm from my desk at work, its just another 12 hour day as usual. I added that in case anyone thought we had a privileged start in life - I wish!
My advice to all landlords is to try and walk the journey the tenant does, hence why I looked forward to the BBC documentary. Do whatever you can to make improvements, one step at a time.
For example, purchase a couple of emergency lights for around £15 each and have them installed at your tenant's property. Do a detector test for them to ensure all is well.
When it comes to the Gas Cert tests, we always accompany the Gas Safe engineer as a comfort to the tenant, so they know someone they trust is chaperoning someone who they don't know.
We also purchase LED lights and carry them around with us. When we visit tenants, we have a chat and if any bulbs happen to be blown we change them for them. Yes, its in the tenancy agreement for them to change but why not help when you can.
We find our notepad the best tool to carry. We ask if there is anything we can do and then we write it down and follow it up.
I always look for the opportunity to do a good deed or two helping people. The little things can make a difference and often they will cost little to do, such as giving a bit of your time.
We are helping a young couple move in tomorrow, and we are installing the TV on the wall for them so that its affixed securely, centralised to the wall. No charge - why not? They will appreciate what you do for them and this, in turn, is reflected in attitude towards you.
Good luck and I'll keep an eye out for your future posts.