Property damage costs landlords £4.5bn a year

Property damage costs landlords £4.5bn a year

New figures have revealed that landlords are forking out a massive £4.5bn every year for property damage caused by tenants, while rent arrears account for just around £900 million in costs.

Thousands of landlords are facing property damage at the end of their tenancy, with the largest problem being broken appliances. Damage to carpets and decorating is common, while cigarette burns remain an issue – despite many rental properties not allowing smoking.

According to the latest TDS stats, damage to property accounts for 56% of deposit disputes.  The TDS figures also show that 19.2% of all disputes raised resulted in 100% pay-outs to tenants; 19.8% of all disputes raised by landlords or agents resulted in 100% pay-outs to them; while in the remaining 61% of cases, the disputed money was split between the parties.


Jax Kneppers, Founder and CEO of Imfuna Let comments: “Many landlords feel tenants are not held to account when damage is caused and that there is little they can do to protect their property.  Furthermore, landlords have a poor record in winning tenant dispute cases.  

However, this could be changed dramatically if they ensure a few simple procedures are put in place at the start of a new tenancy agreement.  For example, ensuring there is a fair contract in place for a new tenant along with a thorough and detailed inventory, will enable both parties to be treated fairly and reasonably. Time and time again, landlords are losing disputes because they’re not providing the right evidence to show that a tenant has damaged the property.

The best way for landlords and agents to protect their property and avoid a dispute, is by ensuring that the condition of the property is fully recorded at the start of the tenancy, with a comprehensive inventory, along with a thorough check-in and check-out report.

We have designed Imfuna Let to ensure landlords and agents have a bullet proof inventory that records the property check-in condition status. The software provides a side-by-side comparison report which clearly demonstrates any change in condition of the property, illustrated with date and time stamped photographs.

We work with many landlords and agents who have managed to reduce property damage by carrying out mid-term inspections, supported by a thorough and professional inventory."

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Latest Comments

AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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property guru
property guru 11 Jul 2016

Why should Ajay even have to be looking for it. It should be public knowledge. Why is not just publish each years and to were it is and be AUDITED. Accountability.

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property guru
property guru 11 Jul 2016

Surprise suprise

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CommercialTrust
CommercialTrust 30 Jun 2016

This is great news for buyers and investors in a period of significant uncertainty. The 10-year buy-to-let fix at 3.99% in particular is excellent, a clear 100 bps ahead of the nearest competition. Though...

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Lee
Lee 30 Jun 2016

Let's see what happens to north-east property prices when Nissan announce they're leaving.

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DmitriKara
DmitriKara 29 Jun 2016

I just read another article about eviction rising and this was exactly what was on my mind, Housing has become "cat and mouse"...

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DmitriKara
DmitriKara 29 Jun 2016

I am really not surprised. I've seen one too many impudent tenants and in my humble opinion renters have one too many privileges and options to abuse heir landlord in so many ways...

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DmitriKara
DmitriKara 29 Jun 2016

There is still so much uncertainty and I will surely step back and see what's happening before I could make any decisions on my end.

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ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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