In this blog we break down the types of landlord costs - maintenance, problems and legal responsibilities.
The Six Types Of Landlord Cost
Generally speaking, costs will revolve around the following areas:
- The need for ongoing maintenance of property
- Dealing with tenants’ problems
- Dealing with letting agents and paying them
- Loss of rental income during void periods when you are between tenants
- Legal responsibilities
- The cost of your mortgage
Of course, many of these costs will be tax deductible. But for the purposes of creating a comprehensive picture of your costs, you will need to map out everything – and then work out how to mitigate them!
With thanks to BuyAssociation.