New research has revealed the cost of evicting a rogue tenant.
Landlords across Britain face being left with a bill of more than £30,000 on average when taking account of lost rent, the eviction process and fixing any damage.
The research, by agent Benham and Reeves, used Government and industry data to find that landlords typically lose nine months’ worth of rent while trying to evict a tenant, amounting to £6,111 on average.
They must then fix any damage, with the kitchen and bathroom most often in need of repair.
Its research found the average cost of a new kitchen is £8,000, the average cost of refitting a bathroom is £4,875, the cost of redecorating is £2,900 and new windows will set a landlord back £7,000.
There are then also average legal fees of £3,000, leaving an overall bill of £31,886.
In London, where property costs are much higher, this total cost climbs to £41,318, and in prime central London, thought to be the capital’s biggest hotspot for rogue tenants, costs can run to more than £50,000.
Outside of London, landlords in Oxford and Cambridge are also facing a cost of more than £36,000 to evict a rogue tenant, according to the research.
In Bristol, Edinburgh, Bournemouth, Glasgow, Manchester and Portsmouth, landlords are still facing a bill upwards of £33,000, with landlords in every other major city looking at a minimum cost of £30,000 or more.
Marc von Grundherr, director of Benham and Reeves, said: “Rogue tenants are a landlord’s absolute worst nightmare, and apart from the stress and time consumed dealing with them, the financial impact can be crippling.
“We’re not talking about a bad apple that doesn’t pay rent for the last two months of a tenancy and leaves a dirty protest on their way out.
“We’re talking about serious criminal organisations that know the letter of the law and every trick in the book to prevent you from getting rid of them, including how to stall the court date for weeks on end and how to deter the bailiff through threats of violence when they finally do call.
“At the very least, you’ll have a dangerously overcrowded sub-let on your hands but more often than not it will be a brothel, workhouse or drug farm.
“We’re not kidding when we talk about the complete renovation and refurbishment of the property afterwards either, as they will take every single thing they can and destroy whatever is left.
“It’s an extremely deep-rooted issue that goes beyond the tenant, even as far as the bribery of the concierge, and so you really are fighting from day one to get them out.”
Why would anyone in their right mind want to become a landlord in this country. Successive governments seem hell bent on destroying the PRS at all costs.
Owning real estate is still the best way of creating wealth, just don’t invest in the UK market.
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Seems a smidge high, by a zero or so.
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There are many cost s that are not realised. Some just look at court costs – see our Facebook comments.
A Difficult tenant with Mental Health issues not allowing access for repairs and frequently complaining to L.A. 0 Then complaints to LGO
How much time & cost in total with this tenant ?
The right action by the Council and LGO, for a change.
https://www.lgo.org.uk/decisions/housing/private-housing/18-011-970
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Our clowns that call themselves politicians have not got a clue conservatives con you. Labour will would be hard labour without remission. The Lib Dem’s well best not mentioned. None of these fools are competent to administer the country and they all manipulate the electorate to get into power. All rogues.
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Too many absent landlords sunning it up on the Costa Del Boy who can’t even pick up the phone to good tenants let alone notice if some criminals have turned it into a “brothel, workhouse or drug farm”. Get back to the UK and speak to the neighbours. Or you’ll pay the price for being useless.
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