Christmas can be particularly expensive for landlords given the spike in emergency repair callout charges over the festive period.
New research from TheHouseShop revealed that landlords could be charged a staggering 50 per cent more for an emergency repair callout during the festive period in comparison to the rest of the year.
The research looked at estimated costs for emergency callouts in the two week over Christmas and New Year. It was found that landlords requiring services such as tree surgery, window repair, boiler engineers and plumbers could face price increases of between 20 and 50 per cent for emergency repairs over Christmas.
Such costs can further escalate if the problem becomes more complex, involving a broken boiler for example. The increased cost of repairs over Christmas can therefore lead seriously impact a landlord’s finances, especially considering that they will be paying for their self assessment tax returns in January.
The steep price hike is likely due to the limited number of businesses opting to remain open over the New Year. Of those, many will suffer from employees saving their annual leave for the festive period, meaning that it can be hard to find experienced workers available at short notice. Christmas Eve, Christmas Day, Boxing Day, New Year’s Eve and New Year’s Day are often therefore subject to price hikes in order to encourage workers to commit to their availability.
Co-founder of TheHouseShop.com, Nick Marr, commented on the research results: ‘Not only would the 20 per cent – 50 per cent cost increase be a hindrance to landlords but they could also struggle to book an appointment because many businesses choose not to operate during Christmas and New year, as they prefer to spend time with their friends and families. My advice to landlords would be to make sure that they have any repairs seen to before Friday 22nd December in order to guarantee an appointment and to help keep their repair costs down. I would also recommend that they send a Christmas card or email to their tenants encouraging them to report any problems with the property sooner rather than later in order to get them fixed in time.’