Hi all,
Im wondering how much you have per year in expenses in your self assessments per property ? (minus morrgage interest deductions)
Mine seem fairly high, but I have just paid to get my property from a d to a c rating and I’ve had a churn of tenants.
Just wondering what the average is.
It varies so much. Some years, I’ll spend a lot on a property, and make a loss on it, but then it might go for years with little spent. I think you’ll struggle to get useful comparisons from such a small survey.
Just ask yourself… am I getting the best rent? Am i spending wisely? Be happy with your own investment choices.
average? Ha! Everyone’s situation varies so widely from everyone else’s that although there is obviously an average, it would be meaningless to compare yours to it.
At one point in the last 15 years, I had 6 years worth of losses that I carried over one year after another. But I could sustain this and I incurred them by refurbing many properties replacing like for like (boilers, kitchens, bathrooms, carpets, etc). This was an upfront investment that I’ve now paid off and am generating my expected profits.
I use that illustration to show how even one LL can have wildly different figures year on year.
What matters is whether your figures match your business plan.
…
…
…
Wait - you do have a business plan, right? 