Many Brits are unprepared for the hidden costs of property ownership, according to research by home management platform Livlet.

The results of the study show that poor home management is one of the biggest financial burdens for homeowners, the company said.

Livlet’s survey revealed that 27% of respondents had ignored minor faults in their home because they don’t consider them a priority. In addition, 32% didn’t remember the last time they carried out a general safety check on their own home systems, and 19% didn’t know where any of their appliance warranties were, when they were due to run out or even if they had any. Some 22% said they had accumulated so many documents in their home that they felt they could no longer find them when they looked for them.

Livlet pointed to research from the Resolution Foundation showing that almost half (44%) of working age households were either behind or struggling with housing-related costs in November 2022; this shows the importance for homeowners to remain in control and on top of their household tasks, the company said.

Dasha Klyachko, CEO and founder of Livlet, commented: “When it comes to owning a home, the list of tasks to complete and remain on top of can feel endless. Constantly having to file and store documents, bills, receipts and warranty information is a long and arduous task, and it’s no wonder that Brits are struggling to manage it all on top of the stresses of everyday life.”