# Renting a property costs



## ikon66 (Jul 23, 2008)

Hi

I'm sure there will be members on here who rent out property. I'm looking into the financial costs of renting out a house. Not looking for figures just main monthly costs of being a landlord to put into a spreadsheet to work out income n expenditure. 

Income will be rent charged

Exp I guess so far
Mortgage payment
Buildings insurance
Maintenance insurance - think you can get overall cover for gas, electric, plumbing etc?
Letting fees - seem to be about 10% of rent charged

What others can I expect on a monthly basis please? Any useful links would be great too

Cheers


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## Andyg_TSi (Sep 6, 2013)

Read here:

https://www.gov.uk/renting-out-a-property/paying-tax


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## rdp50734 (Jun 14, 2016)

I pay out £32pcm for british gas homeware 400 which covers most things electrical and gas.

letting fees are 10% plus VAT is charged on top.

buildings insurance.

Gas safety cert every year.

The mortgage payment.

Then any repairs I usually do myself.


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## Hairy Pete (Oct 2, 2012)

Add Legionnella Risk assessment , Landlord registration, EICR every 5 years and PAT testing........Plus numerous unforseen breakages which never happen in your own home.


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## NornIron (May 12, 2007)

I also budget for cleaning the oven annually, and I cover the cost on a window cleaner calling monthly.

They seem like unneccessary expenditure for many, but experience has shown me that when you make the effort as a landlord, the tenants make an effort for you


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## krissyn (Jul 27, 2014)

You might consider a gardener as well. Don't forget hesitance is likely to be more than your house. Check out HMO rules as well. We also decorated after each let, keep everything magnolia and it's pretty quick.

We once had a corporate rent where the company put random people in for short times. The house was pretty damaged afterward, but the company paid for all repairs, just a bit disenhartening the amount of work needed. Students are similar careless but have no money.


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## krissyn (Jul 27, 2014)

And do agencies charge for deposit schemes as well?


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## kh904 (Dec 18, 2006)

krissyn said:


> And do agencies charge for deposit schemes as well?


As I understand, all deposits are held by 'the deposit protection scheme' that the government set up. This is compulsory and not an option (if you want to be legit).


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## ikon66 (Jul 23, 2008)

Thank you all

lots to consider


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## justina3 (Jan 11, 2008)

sounds as if your covering all the basics, every now and then you will have a tenant from hell, below was my last one and to be fair the worst i have ever had in 20 years of renting

toilet doesnt work ok lets rips it out and pee down the pipe 




some lovely artwork


by by kitchen



but chin up its not all bad :lol:


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