How to Protect Your Real Estate Investment: Prevent and Deal with Decay

Purchasing a property is a significant investment and discovering unexpected disrepair can lead to costly repairs, frustration and legal complications.

By taking the right steps before purchasing and knowing how to deal with deterioration after purchase, you can protect your investment and maintain a safe and comfortable home.

How to avoid buying a property in poor condition

Before you commit to purchasing a property, it is important to carry out thorough inspections to ensure there are no hidden problems. Here are some steps to help you avoid buying a property in poor condition:

• Hire a Professional Appraiser: A comprehensive property inspection performed by a professional is your first line of defense against hidden problems. An appraiser will assess the structure, electrical systems, plumbing, and overall condition of the property and provide a detailed report of any potential problems.
• Investigate the History of the Property: Research the history of the property and building. Did the building need frequent repairs? Talking to neighbors or property management can help identify recurring problems such as leaks, moisture or plumbing problems.
• Inspect the property for visible signs of deterioration: When inspecting, look for visible signs of wear and tear. Look for water stains, cracks in the walls or ceiling, damp spots, or damaged fixtures. Also, don’t forget to check the common areas as the deterioration of these areas could become your responsibility if you buy a leasehold property.
• Understand the rental agreement: If you are purchasing a leasehold property, read the rental agreement carefully. It is important to know who is responsible for maintaining the different parts of the property – be it the tenant, the landlord or the property manager.
• Request records of recent repairs: Especially with older properties, it is important to request documentation of recent repairs or maintenance. This will provide insight into the condition of the property and whether you may need to budget for future repairs.

What to do if you discover that your property is in disrepair?

Despite your best efforts, sometimes property deterioration may not become apparent until after you have purchased the property. In this case, follow these steps to resolve the issue:

• Document decay: Take detailed notes and photos of any decay you discover. Keep records of when the problem first occurred and any correspondence with the landlord or property manager. If necessary, hire a professional photographer who specializes in property documentation to ensure you accurately capture both small details and entire rooms.
• Notify your landlord or property manager: In most cases, your landlord or property manager is responsible for correcting problems related to disrepair. Notify them in writing as soon as possible and document the problem. In the UK, landlords have a legal obligation to keep the property in good condition.
• Request a professional inspection: If the damage is severe, you can request an independent professional inspection. A report on the condition of the property can be helpful if the issue needs to be referred to a legal or formal complaint process.
• Seek Legal Advice: If your landlord fails to repair the damage, it may be time to seek legal advice. A home damage attorney can help you understand your rights, assist in negotiating repairs, or seek compensation if the structural disruption caused damage or health problems.

Case studies

Anna bought an apartment in a Victorian building and trusted that a basic survey would identify any potential problems. Unfortunately, the inspection revealed no signs of rising damp, and shortly after moving in, Anna discovered mold on the walls. Because the landlord failed to act, Anna contacted a housing injury lawyer who helped her obtain compensation and ensure that the landlord made the necessary repairs. The involvement of the lawyer prevented Anna from being able to cover the entire repair costs herself.

James bought an apartment in a new development, assuming there wouldn’t be any major problems with a brand new property. However, within six months, there were repeated leaks in the pipes, which led to water damage to his belongings. Despite notifying the property management, there were delays in repairs. After consulting a lawyer, James determined that the developer was responsible under the warranty, and the lawyer helped him obtain compensation for the damage and forced the developer to resolve the plumbing problems under the terms of the warranty.

John and Lisa bought an apartment in a modern apartment complex. A few months later, they noticed significant cracks in the walls and ceilings. They reported the problem to the landlord, but no action was taken. After contacting a home damage attorney, he organized an independent investigation, which revealed that the building’s foundations were moving. The lawyer helped John and Lisa force the landlord to take remedial action and recover a portion of their service fees for the negligence.

How Home Injury Lawyers Can Help

When you have unresolved real estate issues, home injury attorneys can be an important resource. These legal experts specialize in helping tenants and leaseholders deal with complex disputes related to dereliction. Here’s how you can help:

• Assessing Your Case: An attorney will examine the specifics of your situation, including the severity of the damage and the responsibilities outlined in your lease or rental agreement, to determine the best course of action.
• Negotiating with Landlords: Attorneys will often first attempt to negotiate with the landlord or property manager to obtain a commitment to complete the repairs within a reasonable time frame. This negotiation process can help avoid the need for legal action.
• Filing for Compensation: If the forfeiture resulted in financial loss, such as property damage or health problems due to unsafe living conditions, an attorney can help you file for compensation. Compensation can cover repair costs, damage to personal belongings, or health effects.
• Take legal action: If negotiations fail, lawyers can take the matter to court, representing your interests and urging the landlord to comply with its legal obligations. In some cases, legal action may be necessary to force the landlord to make the repairs.
• No-win, no-fee services: Many home injury lawyers offer a no-win, no-fee service, meaning you don’t pay unless your case is successful. This arrangement can facilitate access to legal assistance for those who find themselves in difficulties due to financial hardship. However, not all lawyers offer the “no win, no fee” policy to private owners.

How Shelter or the Housing Ombudsman can help

If you are faced with unresolved issues regarding the condition of your apartment and have exhausted direct communication with your landlord or property management company, organizations such as Shelter or the Housing Ombudsman can provide invaluable support.

Shelter is a housing charity that provides free advice and legal advice to tenants and leaseholders struggling with dilapidation. They can help you understand your rights, assist with making formal complaints, and connect you with legal counsel if necessary. Shelter’s extensive resources ensure you have a clear path forward, even if you can’t afford a lawyer right away.

The Housing Ombudsman is an independent service for resolving disputes between tenants and landlords, particularly for social housing tenants or housing association tenants. If your landlord has failed to address the dilapidated damage following the complaint process, you can refer your case to the Ombudsman. The Ombudsman will investigate, mediate and, in some cases, enforce corrective action or compensation. They provide a fair, impartial service, hold landlords to account for their legal obligations and ensure you get the repairs or compensation you are entitled to.

Both organizations provide crucial support in dealing with unresolved building damage, ensuring tenants are protected and landlords meet their responsibilities.

Diploma

Purchasing a property with hidden construction issues can be a costly mistake, but taking proactive measures such as thorough inspections, understanding your lease, and documenting any problems can help you protect yourself. If a forfeiture is looming, you can protect your rights and investments by resolving it promptly with the help of an attorney. Housing injury lawyers play an invaluable role in resolving disputes, securing compensation and ensuring that landlords meet their legal obligations to provide safe, livable homes.