UK landlords are spending an average £1,374.07 on maintaining their rental properties annually, reflecting the rising costs of being a property investor.
Landlords in Edinburgh are spending the most on maintenance at £2,952 per year, with Newcastle (£1,632) and Glasgow (£1,622) coming in second and third.
Aside from expected wear and tear, costs for repairing damage have increased by 121% for UK landlords, rising from £473 in 2022, to £1043 in 2024.
Katie Delamain-Blunt, head of marketing at Towergate Direct, said: “There is currently no legal requirement to obtain landlord insurance, however, it is a great way to avoid financial risk in the future and can give landlords piece of mind.
“Landlord insurance can protect landlords as the property owner from financial issues connected to the rental, such as theft, fire or weather damage and can extend to include cover for things like loss of rent.”
Theft damage is the most expensive cause of damage to rental properties and landlords spend on average £1,128 a year fixing post break-in related repairs.
Southampton is the worst affected city by theft damage, with landlords spending £1,875.50 a year on repairs, followed by Leeds (£1,477) and Liverpool (£1,445.82).
Theft aside, fire damage and damage caused to properties from heatwaves come in at second and third for the most expensive issues for landlords to fix in the UK.
