It is vital landlords are fully aware of the costs of managing and maintaining rental property. It is crucial landlords consider the cost of repair work, and this might include calling out a professional in an emergency.
If a problem arises at short notice, it can be costly to call out a professional, but this money is often vital.
At Just Lets, we are pleased to say we have assisted many landlords in Peterborough, helping them to manage their rental property, and care for tenants. We know dealing with problems is often costly, but it is vital.
A recent study by Direct Line – Business has found landlords are spending billions of pounds each year on emergency callouts.
Emergency call outs are expensive
Jamie Chaplin, landlord product owner at Direct Line – Business, said: “Emergencies are unfortunately a part of life and often unforeseen. As our research shows, it can be costly and time consuming to get an emergency contractor out to a property. If tenants need to get in touch with the landlord or letting agency before a contractor can even be called, this only adds to the timescale. No landlord wants their tenant to feel unsafe or unreasonable discomfort in their property. We hope that our Landlord Emergency cover will allow for a harmonious relationship between landlords and tenants while giving peace of mind to both parties.”
Last year, 53% of private landlords were required to call out an emergency contractor to at least one of their rental properties. This is the equivalent of 13,000 contractors being hired on a daily basis.
51% of tenants, which equates to 3.87 million private renters have had to call out an emergency contractor due to an emergency at home.
The most common time-sensitive issues in the rental sector were:
- Plumbing, cited by 48% of respondents
- Gas or heating issues, cited by 45% of respondents
- Problems with the electrics, said by 35% of respondents
- Issues relating to the locks, said by 27% of respondents
Are plumbers the fastest professionals?
The professionals who have the best arrival time are plumbers, who are said to attend an issue in just over 13 and a half hours of being alerted. There will be people who will question if that is responding in an emergency timescale, but that of course is a different matter to discuss.
The next best professionals are electricians, who take an average of 17 hours and 48 minutes to attend, while gas and heating engineers attend, on average, in 20 hours and 42 minutes.
The study also found plumbers are the most affordable contractors, costing landlords an average of £523 per year.
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
You can find Just Lets Peterborough at 142 Oundle Road, Peterborough, Cambridgeshire, PE2 9PJ. Feel free to email us at firstname.lastname@example.org or call us today on 01733 346255.