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[quote][i]Originally posted by RichR[/i] My properties (4 flats in two properties that we own the freehold of) are managed by my missus and myself and we don't really have any issues at all; they're not particularly time consuming once the renovation work was complete and all income generated, we put through my missus' earnings. Her main PAYE tax code has been changed to account for the second income but we give everything over to an accountant once a year. Accountant charges £250 and so far, because of the level of renovation work, we've not paid a penny in extra tax. Whilst every penny is accounted correctly, we're not 100% above board with the running of the flats-we haven't bothered with bonding the deposits but then we ask for a lower level of deposit than most. We're not intrusive and don't often inspect them etc. but they're very simple to look after now anyway. We do have issues with tenants, mainly falling into arrears but in general, when we've been good and set up a payment plan, they've all stuck to it and paid us back in full with gratitude for being lenient - it's only bitten us once for about £500 when a friend of the family moved in - that would be one piece of advice, don't rent to friends or family. [/quote]
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