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

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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