The cost of landlord property repairs has been revealed

The cost of landlord property repairs has been revealed

8:05 AM, 6th October 2022, About A year ago 5

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All landlords and agents will know that when renting out a property, repairs are inevitable and now one firm has worked out how much.

Towergate Insurance has surveyed the UK’s landlords to find out how much they spend on maintaining and repairing a rental property.

They found that, on average, landlords spend £1,088 on maintenance.

Most expensive city to be a landlord

However, these maintenance costs vary with landlords in Brighton spending 36% more than average – around £1,400 – making this the most expensive city to be a landlord.

By contrast, landlords in Edinburgh spent 30% below average – around £700 a year – making this the cheapest city for maintaining a rental property.

Landlords were also quizzed on how much they spend when repairing or replacing common household furnishings and fixtures and installing kitchens and white goods are the most expensive repair/replacement for landlords to make.

These cost an average of £655 every 22 months.

The next most expensive repairs are roof leaks – £608 every 18 months – with carpeting and flooring repairs coming in third at £540 every 21 months.

Pest damage is the cheapest repair

Pest damage is the cheapest repair at £350 every 13 months, and it is also one of the most frequent types of repairs, followed by mould, which required fixing every 14 months. Appliance breakdowns are every 17 months.

The survey also found that nearly half (41%) of landlords have attempted to repair something in their rental property themselves.

Of landlords that have tried DIY repairs, 59% said this was due to pressures to get the repairs done quickly and 53% said it was due to money constraints.

‘Landlord insurance is a great way to avoid putting yourself at financial risk’

Alison Wild, Towergate’s head of SME marketing, said: “There is no legal requirement to obtain landlord insurance, however, it is a great way to avoid putting yourself at financial risk in the future, giving you peace of mind.

“Selecting the right policy is bespoke to you and your property, it is important to consider your location, the types of tenants and the content within your property when selecting the right coverage.”


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Comments

MIkeK123

10:56 AM, 6th October 2022, About A year ago

Repairs can be expensive. What I have found a lot depends on the tenants who reside in the property. Some tenants will rectify some minor issues by themselves.Others will resort to communicating with the letting agent, who then sends out a local company to resolve the problem.
Call out charges for tradesmen are expensive even for minor problems.
I was quoted £32 for a plastic cover to go over the boiler flu ( on outside wall) and £100 labour to install it ……4 x raw plugs + screws. Call out charge £75 !
In the last 18 months I have replaced, washing machine, refrigerator, and oven, plus shower rail (£300 complex rail).
I don’t mind replacing the items because I will sell the property next year so it needs to be in tip top condition.
A further unexpected cost was £125 + VAT for cleaning charges. Despite the agents checking everything was spotless when the previous tenant left, the new tenants wanted it cleaned.

The Forever Tenant

12:30 PM, 6th October 2022, About A year ago

Repairs is a weird one as it's always difficult to guess what level of maintenance I should be expected to do myself. I think that everyone has different ideas about what a minor problem may be.

Obviously things like lightbulbs and the like, definitely the tenant to sort out. Tile falling off the roof, Landlord.

To give a couple of examples from my own experience.

On moving in, it was noted that one of the double glazing panels had condensation on the inside. Now personally this does not bother me and I would never have reported it. It was in the check in report so the landlord arranged for a replacement. But I also don't know if having this condensation on the inside could cause future problems, so would not have known if I should have said anything. It's also something that I would have definitely not been able to repair myself.

The other thing was that one of the toilets took ages to refill. This was again one of those things that didn't bother me and I only brought it up briefly as an aside during an inspection one time.
My landlord got someone in to fix the cistern.

Now this may have been an easy fix, but I have very little knowledge of plumbing so I would be concerned I might make things worse off I mess around with it. So the question in my mind is often should I report such a minor thing, try to sort it out myself or leave it alone. I don't want to be a nuisance but it can also be difficult to know if something should be reported. There is always that concern in the back of my mind that if I am calling to report something, could this be the reason I'm asked to leave the property.

Heather G.

15:36 PM, 27th January 2023, About A year ago

We've just done a full refurb after tenants left the house very scruffy, dirty and somewhat damaged. They had ruined the garden so we took the opportunity to upgrade it, they'd burned the carpet so it had to be replaced, and smoked in the house so needed full redecoration. £12,000 + and almost 3 months void over Xmas. New tenants have just told us the washing machine isn't working properly.

Reluctant Landlord

15:48 PM, 27th January 2023, About A year ago

Reply to the comment left by Heather G. at 27/01/2023 - 15:36
always let unfurnished. Tenants NEVER look after something you provide over what they buy themselves.

I have a different set of tenants - where I am happy to point out that for the rent I charge (lowest in the area and just over the LHA) they are lucky to get carpet in every room that's less than 5 years old.

I know some LL's that let with no carpet and suggest that tenants request a social grant for floor coverings (just as they would if they were moving into social housing where NONE is provided at the start of a tenancy)

Heather G.

16:48 PM, 27th January 2023, About A year ago

Reply to the comment left by DSR at 27/01/2023 - 15:48
Hi DSR,
Our properties are unfurnished, except we provide carpets in bedrooms, upper hall and stairs, and we also supply washing machines, fridge freezers, dishwashers, ovens, hobs & extractors. If we do buy another BTL, we won't provide washing machines, fridge freezers or dishwasher this time.

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