Annual Expenses

norths4me


Joined: 19/04/2007
Posts: 269

Message Posted:
28/08/2008 21:06

I was wondering if anyone had an idea how much the running cost would be for a 2 bedroom apartment with an average use of app 8 weeks per year.



Electric inc standing charges



Water



Council Tax



Insurance



Let me no if Ive missed anything



Thanks

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
28/08/2008 21:48

maintenence charge / contingincy fund 12 months of the year



property tax



water charges/ plus rubbish collection street /lighting /mosquito spray



enviromental tax .

norths4me


Joined: 19/04/2007
Posts: 269

Message Posted:
28/08/2008 22:04

Very helpful and informative Pipie

norths4me


Joined: 19/04/2007
Posts: 269

Message Posted:
29/08/2008 17:32

Surely someone must no???????

littlenige



Joined: 24/12/2006
Posts: 3594

Message Posted:
29/08/2008 17:38

leccy up gas up tax up interest rates down exchange rate down length of a piece of string increased...........................







Forgive me for being a cynic.

rocky


Joined: 17/10/2007
Posts: 1749

Message Posted:
29/08/2008 17:46

N4me I am sure you are on swb so the managment fees will apply which we know whether we like them or not, RMS have provided insurance quotes for property and contents. apart from that like home water and electricity will be on usage although there are various comments aboout exhorbitant charges in NC. There will be local rates and dont forget there will be tax on the income from rentals you will need to take an accountants advise here which will also cost. I do know that HMRC do look for letting adverts and follow some up just coz the income is oversees it is not exempt. I doubt we have any taxation agreements with TNRC so they may also want a cut in due course.If you wish to budget for repairs and imprrovements and do not let out I would have thought twixt £2K and £2.5K a year would suffice or around £200 a month. Any other comments by anyone of course woul d be welcome. I have not included satelite TV phones etc etc which are personal preferences.

norths4me


Joined: 19/04/2007
Posts: 269

Message Posted:
29/08/2008 20:09

Thanks Guys



Rocky you no im on the swb development. I no the communal charges etc, that is why I did not include them in my original post. I am just trying to gauge the running costs for everything else especially with the recent increases.



Figures anyone???

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
29/08/2008 20:31

norths4me.

If i can be of help in any other way just ask .

Can i just give you some friendly advice if you have not already had handover , please ensure you are satisfied all is in situ with apartment and complex before you hand over final payment or maintenence , im sure you have a reputable developer , but you can never be certain until you visually see all for youreself . Hope this helps .

norths4me


Joined: 19/04/2007
Posts: 269

Message Posted:
29/08/2008 20:33

Thanks Pipie,



Have you completed yet?

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
29/08/2008 21:52

norths4me i have completed but if you pop youre E-mail address can pass on info .