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GeorgiaH

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  1. Hi, I just want to check if I'm on the right track on how much it will cost me to run a buy-to-let. I’ve made a list below, does this look right/ is there anything I’ve missed out? Letting agent (I’ve spoken to a couple of local ones and they’ve said it would cost around 10% of rental income) Insurance - approx. £170 (Cost taken from here: https://www.nimblefins.co.uk/landlord-insurance-uk/average-cost-landlords-insurance) Safety certificates: Energy performance certificate - £120 (https://www.reallymoving.com/energy-performance-certificates/guides/how-much-does-an-epc-cost) EICR - approx. £200 (https://mylocaltoolbox.co.uk/cost-guides/eicr-cost/) Gas safety certificate - £120 (https://www.homehow.co.uk/costs/gas-safety-certificate) Allowance for maintenance - 5-10% of rental income Contingency funds (in case tenant-free) - one equating to 3-6 months rent N.B. I googled these costs - do they look about right or have they now increased due to inflation?
  2. I'll have a read of that article. Thank you for your help - much appreciated.
  3. I’ve read that I will pay less tax if I buy a property in a limited company name. As I am new to the property market I’m not sure what to do. I’m going to start with one BTL but my long term plan is to build up a small property portfolio so I’m hoping to reinvest the profit I make into buying another property. I don’t think I can transfer to a LTD company once the property is in my name so am I best to put my first BTL property into a LTD company name just in case I do decide to continue investing in properties? Any help would be much appreciated.
  4. Thinking about the best place to start my first BTL. Ideally I would like to buy somewhere local as it would be easier to manage and deal with any problems and gain some experience before venturing further afield. However London/ South East probably isn't the best location in terms of ROI. Anyone have any advice/ opinion on this?
  5. Hi! I’ve just joined and am new to property investment. Just trying to learn as much as I can and figuring out the right strategy for me before taking the big step to invest. Looking forward to gaining as much knowledge from the platform and its members
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