February represents a strategic month for landlords to address essential tasks before the new tax year begins in April and before the March Budget potentially introduces policy changes. Systematic attention to tax preparation, tenancy management, property maintenance, and strategic planning positions your portfolio for success throughout 2026.

Tax preparation for year-end

With the tax year ending 5 April, February provides final opportunities to optimise your tax position. Review your rental income and expenses for the current tax year, ensuring all allowable costs are claimed, including maintenance, insurance, letting fees, professional services, and travel expenses for property management.

Gather receipts and documentation for all claimed expenses. Missing paperwork discovered during tax return completion creates stress and may result in unclaimed expenses increasing your tax liability. Organise records systematically while the year remains fresh in memory.

Consider whether any planned maintenance or improvement work should complete before 5 April to claim expenses in the current tax year, or defer until after if bringing forward provides no advantage. Strategic timing of expenditure optimises tax positions across years.

If you haven't already, consult with property tax specialists about whether your portfolio structure remains optimal given property income tax rate changes taking effect from April 2027. Understanding implications now allows considered decisions rather than rushed reactions later.

Review tenancy renewals strategically

Tenancies expiring between March and May require attention now. Contact tenants with upcoming renewals to understand their intentions. Do they wish to renew, or are they planning to move? Early conversations prevent last-minute scrambles finding replacement tenants during void periods.

For tenants renewing, consider whether rent reviews are appropriate. Research current market rates for comparable properties to ensure any proposed increases align with market conditions. Well-justified, reasonable increases maintain positive tenant relationships while optimising returns.

Provide adequate notice for any rent increases, exceeding minimum legal requirements where possible. Tenants appreciate time to adjust budgets, and generous notice demonstrates consideration encouraging renewals.

If tenants are leaving, begin marketing properties in February for March or April availability. Spring's strong rental demand means early marketing often secures replacement tenants quickly, minimising void periods.

Complete essential maintenance before spring

Address any outstanding maintenance issues before the busy spring letting season. Properties in excellent condition let faster and command better rents than those with obvious defects or deferred maintenance.

Schedule annual gas safety inspections if due, ensuring certificates remain current. Similarly, arrange other required compliance inspections like electrical testing or legionella risk assessments. Service boilers and heating systems before spring temperatures arrive to maintain efficiency and prevent breakdowns.

Address external maintenance like gutter cleaning, painting, or garden tidying. Properties showing well externally attract stronger tenant interest.

Prepare for potential Budget announcements

The March Budget may include announcements affecting landlords. Reviewing your portfolio’s vulnerability to potential changes helps you respond quickly if measures require action.

Understand your properties' energy performance ratings and improvement costs. If Budget announcements enhance support for energy efficiency upgrades or tighten minimum standards, knowing your position allows rapid decision-making about investments.

Review financing arrangements. If Budget measures affect mortgage interest relief or introduce incentives for particular ownership structures, understanding current arrangements helps assess whether changes would benefit your circumstances.

Update records and documentation

Ensure tenancy documentation is current and compliant. Review tenancy agreements, deposit protection confirmations, gas safety certificates, electrical inspection reports, energy performance certificates, and how-to-rent guides provided to tenants.

Check deposit protection scheme registrations remain valid and prescribed information has been provided correctly. Update property inventories and condition reports, particularly for properties between tenancies or approaching renewal dates. Accurate records protect against disputes and demonstrate professional management.

Insurance review

Review all property insurance policies to ensure cover remains adequate and current. Property values, rebuild costs, and rental incomes change over time, and insurance cover should reflect current rather than historical values.

Compare providers annually. Switching insurers often saves hundreds while maintaining or improving coverage levels.

Financial planning and forecasting

Review portfolio financial performance over the past year. Calculate actual yields for each property, compare against projections, and identify underperforming assets requiring attention.

Create financial forecasts for the coming year, accounting for known rent increases, anticipated maintenance costs, mortgage rate changes, and potential tax increases from April 2027. Understanding projected returns helps determine whether to retain, dispose of, or acquire properties.

Regulatory compliance check

Ensure compliance with current regulations including Right to Rent checks, deposit protection, provision of required documentation, and property condition standards. Stay informed about new requirements introduced through the Renters Rights Act in 2026.

Moving forward organised

February's systematic attention to these tasks prevents April's rush and positions your portfolio for a successful spring letting season. Properties that are compliant, well-maintained, and financially optimised deliver better returns with fewer complications.

Contact us for professional property management guidance