Towergate Landlord Insurance surveyed 1,000 UK landlords to highlight which UK city has a higher cost associated with repairing and maintaining a rental property. The data reveals the most expensive to the cheapest city in the UK for landlords in terms of the total annual maintenance cost of each property they own.
Repairs and general maintenance are huge aspects of the daily life of a landlord and, over a year, the findings reveal that the average landlord in the UK spends £1088 maintaining a single rental property.
How much do landlords in Brighton spend on repairing their rental properties?
Across the UK, the cost of being a landlord differs between cities. Brighton is the most expensive city for landlords, spending an average of £1433.35 on repairs per year. Comparatively, landlords in Edinburgh spend nearly 50% less than those in Brighton on maintenance at £731 per year. According to the survey, 29.63% of landlords in Brighton spend as much as £1,501-£2,000 on maintaining a rental property per year.
The most expensive repairs for Brighton landlords
Appliances over £100 are reported as the most expensive item that requires fixing throughout the year amongst UK landlords at an average of £655.90 per repair. In Brighton, this cost rises to as much as £815.14 as the city where landlords spend the most on replacing or fixing appliances over £100, closely followed by Edinburgh at £814.42.
This is followed by roof leaks as the second most expensive repairs, costing Brighton landlords £758.31 each time. The research also revealed the frequency at which each item required repairs, with damaged caused by pests being the most frequently required repair for Brighton landlords, needing attention as much as every 18 months.
How successful are DIY repairs by landlords in Brighton?
When dealing with property damage, nearly half (41%) of UK landlords surveyed have attempted to repair something in their rental property themselves. Of these, 35% of landlords regretted attempting to do so.
In Brighton, 40.74% of landlords have attempted to repair something which required a professional. When asked why, 56% of Brighton landlords said this was due to money constraints, while 41% said it was due to time pressures. Only 18% of landlords claimed to regret attempting to fix something themselves, suggesting they’re able to fix the issues themselves without the help of a professional.
Maintaining a rental property comes with a number of inevitable costs, especially when repairs and replacements are needed after damage or general wear and tear. While DIY repairs may be okay for chipping paint or old carpet, they may not be as cost-effective as they first seem and paying for a professional tradesman can help you save money in the long-run and avoid any extra costs when repairs are required.
Alison Wild, Head of SME Marketing, from Towergate Insurance outlines the importance of having landlord insurance: “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. Landlord insurance protects you as the property owner from financial losses connected to the rental, such as theft, fire, or weather damage and can be extended to include coverage for things like loss of rent.
There are a range of different landlord insurance policies, most of which include buildings insurance and property owners’ liability insurance but can be expanded to include policies such as contents insurance. 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.”
