|
|
neoquip
|
posted on 13th Feb 07 at 21:01 |
My rent cover the mortgage and the service charge costs of the flat and leaves me a little at the end of the mont... but not a lot, take into account the months in the year the flat might be empty and that money you'd save is then all gone.
I look at it that the flat goes up each year.
If you wannt to rent your place out make sure the rent is 125%+ more than what your mortgage is.
|
Ally
|
posted on 13th Feb 07 at 08:31 |
Whats the mortgage on that Neo?
Do you make a profit every month, or do you do it so they just about cover everything then you get left with the property paid by someone else in the end...
Also - What legal bits do you need to have sorted to do it, do you get much hassle being a landlord etc
In a couple of years me and Richie will be buying together, i really want to keep my house and rent it out, that way (hopefully) at the end of the mortgage ill have a nice lump paid for by someone else. Only trouble is, i live somewhere thats not close to city centres, however the house next door is rented and they are paying £500pcm for it - so i figured if they will rent it for that much then surely i could lease it for say £450 a month when the house is nicer than theirs
Somthing i've always planned on doing - but im unsure if starting off with a 3 bedroomed house is a good idea :lol: but we bought it for 67k, now worth about 87k and i figured the longer i keep hold of it, the more it will be worth
essay :lol: but u get the idea
|
neoquip
|
posted on 13th Feb 07 at 06:55 |
quote:
Originally posted by myke
looks nice.
compact, but i guess that's the point of a studio.
what rental income you get from that?
yep, separtate kitchen then a lounge/bedroom (in one), separate bathroom and toliet.
thats a studio ;)
done up like this I get £395pcm
one not as done up you get £350+ pcm
[Edited on 13-02-2007 by neoquip]
|
mav
|
posted on 13th Feb 07 at 00:28 |
looks clean and fresh:thumbs:
|
myke
|
posted on 12th Feb 07 at 23:38 |
looks nice.
compact, but i guess that's the point of a studio.
what rental income you get from that?
|
neoquip
|
 posted on 12th Feb 07 at 22:00 |
Its at last gone, rented out to only the second person to view it, they loved it and just what they wanted. So i can now sit back and take it a bit easier.
After me doing the whole place up finished off the last bits at the weekend, it feels its been a long slog but got there in the end ......its been going on since buying the place in november 2005, heres a picture by picture account of how its been done.
take a look, the last couple of page pix show the finished artical
click here for the pictures
if anyone wants any advice, just ask :thumbs:
main pix here tho.
[Edited on 12-02-2007 by neoquip]
[Edited on 12-02-2007 by neoquip]
|
