Landlords face £34,000 repair bill nightmare

Landlords across the UK are potentially facing staggering repair costs, with new research revealing an astonishing 72 maintenance jobs per property ownership, totalling more than £34,000.

Buy to let insurance provider Alan Boswell Group, in partnership with Compare My Move, has unveiled the most costly property damages, offering landlords crucial insights to shield their investments.

Underpinning emerges as the most expensive repair, with potential costs reaching £25,000.

Roof repairs follow closely, needing up to £10,500.

Severe cases of foundation instability

The firm’s Heath Alexander-Bew said: “Thankfully, underpinning is typically only reserved for severe cases of foundation instability, and often considered a last resort.

“Roof repairs are the second most expensive task to undertake, potentially costing landlords up to £10,500 for a complete replacement.

“Typically, roofs require a full repair every 25 years, although this timeline can fluctuate based on factors such as weather conditions, property age, and roofing material.”

He adds: “Look for common signs such as missing or cracked tiles, water stains on ceilings, and damp patches in the attic.

“Regularly inspect your roof, especially after severe weather – identifying damage early can save landlords significant costs.”

Most expensive fix for landlords

The research reveals that the third most expensive fix for landlords is electrical rewiring which can cost up to £10,000 for a full property rewire.

The UK sees around 7,000 house fires caused by electrical faults every year.

Landlords should, the insurer says, prevent loose wiring and ageing electrical installations from sparking unwanted fires.

That means watching for signs of wear and tear like flickering lights, buzzing sounds from sockets and regular fuse box tripping.

Mr Alexander-Bew said: “Electrical safety checks, which average around £215, should be conducted more frequently to ensure your property meets current regulatory requirements.

“Additionally, monitor whether your home has surpassed the 25-year mark since its last complete rewiring.

“Updating older systems not only enhances safety but also helps prevent more extensive repairs in the future.”

Most pricey landlord property repair bills

Rendering comes fourth on the list of most pricey landlord property repair bills, with estimated costs of up to £8,500.

The firm says that applying a fresh coat of render will not only protect the property’s exterior from penetrating damp and prolong its lifespan, but also boost your property value, potentially increasing the asking price.

Rounding off the top five most expensive property damages is plumbing and water damage, with landlords potentially losing up to £5,000 in severe cases like water damage restoration costs post-flooding.

Almost 7,000 UK homes and businesses have been flooded in the past 18 months – the wettest period on record – underscoring the widespread impact of water-related issues exacerbated by the UK’s notorious weather.

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