Cost of evicting rogue tenants reaches £31,000
The cost of evicting a tenant in the UK has reached an average of £31,000 according to London Estate Agents, Benham & Reeves. This includes the lost rent, mortgage, payments, refit costs and legal fees of eviction. Evicting a rogue tenant can take up to nine months in some cases although in our experience the vast majority of evictions take between three and five months from service notice to obtaining a court order.
Hotspot areas with a large financial impact
With the financial loss to a landlord in some expensive London hotspots reaching up to £55,000, dealing with a rogue tenants can have a large financial impact on a landlord’s buy-to-let investment.
Kensington and Chelsea is the most expensive UK area to rent and having a rogue tenant can cost you up to £54,647. Other areas of London follow close behind, with Westminster reaching £51,263 and other boroughs exceeding £40,000. Outside London, evicting a rogue tenant can cost more than £36,000 in Oxford and Cambridge, and up to £33,000 in Bournemouth, Bristol, Cardiff, Edinburgh, Liverpool, Manchester and Portsmouth.
Rogue tenants: ‘A landlord’s worst nightmare’
Marc von Grundherr of Benham & Reeves, says;
“Rogue tenants are a landlord’s worst nightmare and apart from the stress and time consumed dealing with them, the financial impact can be crippling.
“We’re not talking about a bad apple that doesn’t pay rent for the last two months of a tenancy and leaves a dirty protest on their way out.
“We’re talking about serious criminal organisations that know the letter of the law and every trick in the book to prevent you from getting rid of them, including how to stall the court date for weeks on end and how to deter the bailiff through threats of violence when they finally do call.”
How to evict a rogue tenant
If you are a landlord requiring legal advice about removing a rogue tenant in the most cost-effective way, contact our specialist property litigation solicitor, Daniel Dickson. Daniel has particular expertise in landlord and tenant disputes. e. DanielDickson@rixandkay.co.uk