Survey Reveals Most Landlords Faced $2,000+ Repair Bills

Owning rental properties has long been a great investment, that is, until the repair bills come due․ Bay Property Management Group surveyed rental property owners throughout the Mid-Atlantic to see how they are doing in today’s rental market․ We wanted to understand the true cost of buying and owning a rental property․

Frankly‚ the results were pretty eye-opening․ Many landlords report increased insurance‚ unexpected repairs‚ and other costs they hadn’t prepared for in 2026․Here’s a look at what we found․

How Much Are Landlords Really Spending On Repair Bills?

Our latest survey of landlords in Baltimore, Northern Virginia, Washington DC, and Philadelphia found that nearly 55% of landlords report their biggest single repair cost is over $2000.

Plus, a further 20% said the most expensive thing they asked a contractor to fix cost between $1001 and $2000․ When combined‚ three in four landlords spent $1000 or more on a repair bills last year․ On the opposite end‚ only 8.56% of owners said that their most expensive repair cost $500 or less. The fact that number is so low highlights the reality many owners face; repairs can add up quickly.

As experts in rental property management in Northern Virginia, we know that landlords are responsible for HVAC systems‚ plumbing‚ structural issues, and appliances. The cost of repairs and replacements for these items can quickly climb into the thousands!

This is because it reflects both the value of labor and aging housing stock in many of the markets we studied. If it’s just one unit‚ the $2‚000+ repair is a lot, but doable. However, multiply that over five or ten units and that’s a big line item to plan for․

Insurance Premiums Are Adding to the Pressure

Here’s another thing we found: Repair bills aren’t the only costs climbing for landlords in 2026. Our survey of over 5,000 landlords revealed that insurance premiums had increased on average by 17.65% over the past year. The median increase was 13%; so even respondents at the midpoint were paying significantly more than the previous year just to stay insured.

To put this in perspective, if a landlord were paying $1500 for property insurance, a 17.65% hike means their costs go up by almost $265 a year without changing the coverage. This alone is significant, but it is particularly alarming when multiplied by multiple properties.

According to the survey, some landlords reported increases as high as 100%. This just shows how varied the experience can be depending on property location, type, claims history, and other factors. Premium increases of this magnitude aren’t unique to any one state. However, their impact on landlords, and whether those added costs can realistically be absorbed, depends on how lease terms are structured.

Landlords Agree: The Cost of Ownership Has Climbed?

Whether you’re a landlord, investor, or tenant, it’s pretty clear—costs are going up everywhere. That really shows up in the survey data, where most landlords agreed with the statement “The cost of being a landlord has substantially increased in the past 5 years”․

In response‚ 44.10% of landlords agreed strongly and 34.55% agreed‚ indicating that nearly 79% of landlords felt that the financial burden of ownership had considerably increased. Only a mere 1.40% of landlords disagreed‚ with 0% of landlords strongly disagreeing․

The consensus of property owners asked for this survey cannot be ignored․

It is an indicator of a shift in what it costs to maintain‚ insure and operate a rental property today. It also puts the repair bills and insurance numbers in perspective with a larger body of information․ However‚ these increases were not isolated spikes, as most landlords have faced similar increases․

What This Means for the Rental Market

The data from this survey reflects something rental market watchers have been noting for a while: the margin for being a landlord is getting thinner. When your biggest repair bills top $2,000, and your insurance premiums are up nearly 18% year over year, the business of renting out property requires more active financial management than it did even five years ago.

As experienced property managers, we know that financial preparation, preventative maintenance, and strategic rental pricing is more important than ever in uncertain financial times. But the reality is that this can be overwhelming for landlords, particularly with multiple properties.

Bay Property Management Group compiled this data to better understand the real financial pressures facing landlords in the markets we serve. The results reinforce what we hear from owners regularly — costs have changed, and managing them well requires planning, the right partners, and professional support. If you would like guidance on how to maintain and maximize your profit margins, contact us today to learn how our team can support your rental portfolio.