New research has revealed the “true cost” of being a landlord after property maintenance costs soared by 26.24% since 2022.
Analysis from Towergate Direct highlights the mounting pressures landlords face, from costly repairs to tenant disputes over responsibility.
According to the insurer’s latest survey, the average UK landlord now spends £1,374.07 per year on maintenance—£285 more per year compared with 2022. Regional disparities persist, with Edinburgh emerging as the most expensive city for maintenance, followed by Newcastle and Glasgow. London, once the costliest city for landlords, has now dropped to sixth place.
Among the most expensive repairs are £906 on average for roof damage, £665 for electrical issues and £655 for heating problems.
The survey reveals that almost 60% of landlords have had disagreements with tenants over maintenance, a sharp rise from 48.5% in 2022. The cost-of-living crisis and increasing rental prices have led to heightened expectations from tenants, further escalating these conflicts.
Beyond standard maintenance, landlords are also grappling with surging damage repair costs. The survey found that the average cost of repairing damage has skyrocketed by 121%, from £473 in 2022 to £1,043 in 2024. The most expensive causes of damage include theft at £1,128 per year, with Southampton, Leeds, and Liverpool reporting the highest costs.
Fire damage was the second costliest repair issue.
The research also found a dramatic drop in uninsured landlords. In 2022, 20% of landlords lacked insurance, but in 2024, this has plummeted to just 3.8%. However, this still leaves more than 100,000 landlords financially vulnerable to unforeseen damages, the brand warned.
Katie Delamain-Blunt, head of marketing at Towergate Direct, said: “There is no legal requirement for landlord insurance, but with repair costs rising and disputes increasing, it’s a critical safeguard.
“Landlord insurance can protect against financial losses from theft, fire, or weather damage, and even cover loss of rent. With the landscape of renting changing rapidly, ensuring you have the right policy in place is more important than ever.”
This article is taken from Landlord Today