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TODAY'S OTHER NEWS

BTL landlords  spend more than £3.6bn on local economies in 12 months

Buy-to-let landlords have spent £3.61bn on local economies across the UK over the last 12 months, according to Aldermore Bank.

The bank surveyed 1,000 buy-to-let investors and found that the average landlord spent £1,443 on local tradespeople in the past year, including services such as plumbers, builders, and letting agents, among others, all of which were hired from the local community for most of their requirements.

Of the total amount paid to local service providers, landlords spent the most on letting agents coming to £879m in the past 12 months, followed by £442m on general handy-workers and £396m on plumbers. Also, landlords spent £375.4m on electricians, £377.3m on builders, and £243.2m on cleaners.

Using local provides peace of mind for many landlords, with more than a third - 39% - citing trust as the main reason why they turn to someone local, while 26% say it is due to not living close to their rental property, and so having local people do maintenance is reassuring to them.

Damian Thompson, group managing director of retail finance at Aldermore, said: “Landlords are an integral part of local communities across the UK, providing investment and fulfilling the demand of the expanding Private Rented Sector. 

“Around every landlord is an ecosystem, in which they pay local tradespeople, like plumbers, builders, decorators, for jobs and those companies in turn train up employees and pay their own local suppliers for services also. 

“The contribution landlords make to local communities extends much wider than merely providing rental accommodation.”

Thompson added: “Our findings show supporting local economies also brings benefits to landlords own businesses. Local workers bring a lot of value to landlords with respondents to our survey citing in particular the quality work, cost effectiveness and the understanding of local areas as key benefits.”

Landlord expenditure on local services the past 12 months: 

Service

Percentage of landlords that used service in past 12 months

Average amount spent annually on landlords that used service

Total UK wide annual spend for service by landlords

Letting agent/ property management

31%

£1,135.40

£879.9m

Handy-worker

40%

£442.40

£442.4m

Plumbers

51%

£310.70

£396.1m

Electricians

47%

£319.50

£375.4m

Cleaners

19%

£512.10

£243.2m

Builders

26%

£580.50

£377.3m

Roofers

16%

£537.60

£215.0m

Gardeners

12%

£476.50

£143.0m

Carpenters

18%

£481.80

£216.8m

Architects

4%

£764.10

£76.4m

Structural Engineers

4%

£877.20

£87.7m

Interior designers

5%

£1,020.00

£127.5m

Other

3%

£494.90

£37.1m

 

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    So why are these toffs in London persecuting is and taxing us out of business the job is getting so much harder leave us alone we do a good job makes my blood boil

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    Totally agree! What the government forgets os that over a third of this (Income Tax, NI and VAT) will end up back in its pocket whereas many owner occupiers don't maintain their properties as well landlords and if they do then DIY and cash in hand jobs will definitely reduce the tax take compared to landlord- initiated works.

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