Landlords devote 31 hours of ‘sweat’ every month to property management

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Landlords devote 31 hours of ‘sweat’ every month to property management

Letting property is proving far from passive, with landlords dedicating huge amounts of time alongside financial investment to keep portfolios running.

According to Pegasus Insight’s latest Landlord Trends report, landlords now spend an average of 31 hours each month managing rental homes.

That equates to almost four working days, and the firm calls it ‘sweat equity’.

Among landlords with 11 or more properties, the workload climbs steeply to 78 hours, or close to 10 working days.

Letting is not passive

The firm’s founder and managing director, Mark Long, said: “There is often a perception that letting property is a relatively passive activity, that landlords just sit back and let the cash roll in.

“But the data tells a different story.

“For many landlords, particularly those operating at scale, portfolio management represents a significant monthly time commitment.”

He added: “As regulatory and operational requirements have increased, so too has the administrative and compliance workload.”

Still work with an agent

The report also highlights that landlord oversight doesn’t ease simply because a letting agent is involved.

While 57% of properties use some form of letting agent service, reported time commitments remain broadly aligned whether landlords outsource or not.

Compliance, maintenance oversight and financial administration still sit squarely with the owner.

Time input is highest among leveraged investors, HMO operators and those running larger holdings.

Chunk of rent spent on costs

Complexity increases as borrowing structures, licensing obligations and property standards stack up, pulling landlords deeper into day-to-day management.

Landlords estimate that 23% to 24% of gross rental income is consumed by running and maintenance costs.

Mr Long said: “Larger landlords, those whose properties are financed using a mortgage and those operating HMOs are naturally exposed to greater complexity, and that is reflected in the hours they invest.

“The combination of rising time demands, and ongoing cost pressures reinforces the fact that the private rented sector is becoming increasingly professionalised.”

He adds: “Successful landlords are devoting both capital and active management effort to sustain the performance of their investments.”

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Social housing landlords urged to be fair on pet requests

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Social housing landlords urged to be fair on pet requests

Social housing landlords will not be legally forced to grant pet requests, but the government urges them to be fair and considerate.

In a letter to social housing landlords, the government claims tenants in social housing do not experience the same barriers as tenants in the private rented sector (PRS) to keeping a pet.

Under the Renters’ Rights Act, tenants in the PRS have the right to reasonably request a pet, and private landlords cannot unreasonably refuse permission.

Encourage landlords to share best practice

Baroness Taylor of Stevenage, Parliamentary Under-Secretary of State for Housing and Local Government, says in the letter it is “not proportionate or necessary to legislate to require social housing landlords to fairly consider tenants’ rights to request a pet”.

She adds: “I know that many social landlords already outline their policies on pets within their tenancy agreements. Where landlords do not, I encourage them to do so and also want to encourage landlords to share best practice on how requests to have pets are considered and communicated to tenants.

“I also expect that as social housing landlords, you will wish to clearly explain to tenants the factors that will be considered as part of any request for a pet, for example, whether the tenancy or superior lease allows pets, the suitability of the property (size/layout, shared access, access to gardens/communal space), the type/size of the animal, and welfare considerations, and provide a simple route to apply with a standard timeframe for a decision noting when timelines may extend if superior landlord consent is required.”

Refusal must be explained

Baroness Stevenage adds if pet requests are refused, then social housing landlords must explain why.

She writes: “Where requests are refused, decisions should be confirmed in writing with an explanation for why the request hasn’t been granted and, if appropriate, signpost the tenant to the options available for review or redress.

“Many social landlords also include details in their policies on pet welfare and control measures such as ensuring animals are looked after appropriately, are well‑controlled in communal areas, and do not cause nuisance or damage.”

Private landlords cannot refuse a pet request if they do not like pets

Under the Renters’ Rights Act, for private landlords the government has provided guidance on situations in which landlords may refuse a tenant’s request to keep a pet. These include:

• Another tenant has an allergy – however, the guidance does not specify that a landlord’s own allergy is grounds for refusal.
• the property is too small for a large pet or several pets
• the pet is illegal to own
• if you’re a leaseholder, and your freeholder does not allow pets

However, private landlords cannot refuse a pet request if they do not like pets, have had previous tenants with pets who damaged the property or have general concerns about potential damage in the future.

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