Skip to main content Skip to footer

What recurring expenses can I expect to pay, if I buy a property to let?

I am considering Sutton, Surrey

Asked on May 16 2011, Renting in Sutton | Report content

Answers (3)

Was this question useful? Yes 3 No 0

Sort by: Oldest | Recent | Highest rated

  • First one is your Mortgage payments. Next will be letting costs, and finally updating the property to a let able standard on a regular basics.

    Answered on May 17 2011, Report content
  • Further to the previous answer you will also need to factor in buildings insurance, administration costs for each tenancy renewal (Tenancy Agreement, Inventory and other admin costs), letting agents management fees (typically 10%), you may also have to pay income tax on any profit that you make from the rent. It may also be wise to take out a rent guarantee insurance.

    Answered on May 17 2011, Report content
  • Most important thing is to buy the right property .. as the costs will be the same. Go to a pure letting agent (not a letting agent who has an estate agent so there is no conflict or possible conflict of interest) and ask him or her to what they are crying out for for rent. Then go and buy that type of property...

    Answered on May 20 2011, Report content

Didn't find what you were looking for? Ask a question

More Renting in Sutton questions on AskMe

See more AskMe Q&A about Renting