Log in to Landlord


Buying and maintaining can prove to be expensive and many landlords fail to understand the amount of costs involved. Below is a list of some of the costs involved in buying and maintaining a rental property and it is worth saying this is by no means conclusive.

Buying Costs such as
  • Stamp duty
  • Solicitor’s fee
  • Estate agent’s fees
  • Surveyor’s fees
  • Land registration fees and searches
Cost of preparing a property for rent such as
  • Complying with regulation
  • Decoration
  • Purchase of furniture and equipment
  • Potential cleaning costs
  • Any utilities bills before the property is let
Cost of finding tenants
  • Self management
  • Using a lettings agent
  • Marketing the property either via a letting agent or advert (internet, press)
  • Time spent in showing a prospective tenant the property
  • Tenant checking (referencing)
Cost of securing tenants
  • Starting up a tenancy
  • Duplicated keys
Running costs
  • Mortgage repayment in times of non-occupation
  • Lender’s authorisation fee
  • Accountant's fee
  • Bank charges
  • Minor repairs (allow at least 10–15% of 12 months’ rental)
  • Council tax*
  • Utilities bills* - gas, water, electricity, telephone
  • Furniture and furnishings replacement (10–15% of 12 months rent)
  • Insurance* - buildings and contents
  • Management or service charge
  • Ongoing cost of complying with regulation - annual gas checks, electricity
  • Cleaning (labour and materials)
  • Gardening*
  • TV licence*

* You may be responsible for all or some part of the costs depending on the agreement between you and the tenant