As jobs go, being a landlord can carry a lot of stress. From navigating constantly changing laws, buying and managing multiple properties and tackling problem tenants, there's a lot to deal with.
However, according to the latest research r, property maintenance tops the list of issues that are keeping residential landlords awake at night.
The research among a panel of landlords found tenant behaviour, care of the property, taxation and finding tenants also made it into the top ten worries of property owners. One in four landlords said they weren’t experiencing any issues that were keeping them awake at night while only one in 50 was concerned about enhanced underwriting for portfolio landlords and one in twenty cited Brexit as a worry.
Three in ten landlords said property maintenance was their main concern, which is unsurprising given the average property has four maintenance issues in a year with one in ten properties experiencing seven maintenance issues in a year.
The most common issues reported by tenants were ovens, water leaks and boilers and November is the month that experiences the highest number of maintenance issues.
Top Ten issues keeping landlords awake at night:
1: Property Maintenance – 30%
2: Care of Property – 24%
3: Tenant behaviour – 23%
4: Taxation – 19%
5: Costs V Rental Income – 17%
6: Landlord Regulation – 13%
7: Collecting Rent – 11%
8: Finding tenants – 10%
9:Property Prices – 10%
10: Market Conditions – 9%
To speak to one of our team here at Belvoir Liverpool Central please call 0151 231 1613 or email liverpoolcentral@belvoir.co.uk
