The latest property market analysis by London lettings and estate agent, Benham and Reeves, has revealed that the costs incurred by UK landlords who have been unfortunate enough to encounter a nightmare rogue tenant during the pandemic.
During the COVID pandemic, measures to help those in legitimate financial trouble saw a ban on tenant evictions between March 2020 and June of this year, although eviction hearings did resume in September of last year in anticipation of the ban lifting.
While the vast majority of tenants are respectful and treat their rented homes with great pride and care, rogue tenants remain a professional hazard for landlords.
A six month notice period was also implemented before eviction proceedings could begin for those given notice between 29th August 2020 and 31st May 2021, a move that left rogue tenants rubbing their hands in delight.
Benham and Reeves calculated the cost of a nightmare tenant based on the worst-case scenario of lost rent, legal fees and property renovation costs following the eviction ban.
Marc von Grundherr, Director of Benham and Reeves, commented: “The situation for landlords throughout the pandemic has been shocking and while eviction notice periods have now been reduced to four months, many continue to lose thousands in rental income every month due to rogue tenants and the long delays suffered while trying to evict them.