Home  Landlords  Emergency repairs cost UK landlords £4.5 billion

Category: Landlords

Emergency repairs cost UK landlords £4.5 billion

Reading Time: 2 Mins Read

More than half of UK landlords needed to call an emergency contractor to one of their properties in the past year, according to new research, at a cost of £4.5 billion.

Emergency repairs cost UK landlords £4.5 billion

The data, from Direct Line for Business, revealed that 53% of landlords needed emergency assistance for issues ranging from fire and flood to faulty plumbing and pest infestations. On average, landlords needed a contractor every three months, the equivalent 4.7 million callouts a year.

The tenants affected needed to move out of their homes for an average of 8.5 days. Emergencies requiring tenants to leave their homes were most often plumbing-related, followed by electrical faults, gas emergencies, an escape of water and pest infestations.

More than half (56%) of landlords did not have insurance to reimburse them for loss of rental income while their property was out of action or to pay for alternative accommodation for their tenants.

Overall, landlords had to pay emergency contractors a total of £4.5 billion. This amounts to an average cost of £764 per callout. However, in many cases the cost of dealing with an emergency is just the start, with structural damage costing an average £2,325 per incident.

Sarah Larkin from Direct Line for Business said: “Landlords are reacting immediately to tenants’ emergencies calling in contractors to resolve issues day or night. When tenants flag an issue early it can be resolved quickly preventing excess damage to the building and the tenants’ contents.

“The true cost of an emergency is unknown until all the work is complete and tenants are safely back in the property. It is essential that landlords have the right insurance cover in place to cope with the incident and avoid added stress.”

Read more about this story on the Property Reporter website.

Neil Jennings

Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.

Related Post

Landlords note – a new government How to Rent guide has been issued
Updates: 2 Mins Read
Landlords note – a new government How to Rent guide has been issued

Landlords are advised that the government has released a new version of its How to Rent Guide which takes into account new legislation.

The housing deregulation act 2015 – what does it mean for landlords?
Updates: 6 Mins Read
The housing deregulation act 2015 – what does it mean for landlords?

Landlords must comply with the Deregulation Act 2015 or face hefty fines and lose the ability to evict troublesome tenants. Here we explain the implications of The Act for landlords.

Health and Safety in Rented Properties
Updates: 9 Mins Read
Health and Safety in Rented Properties

Landlords are responsible for ensuring that their properties are safe for tenants to occupy. So they must keep up to date with all the health and safety regulations for private rented properties.