My aim for writing this report is to provide you with a real example of the monthly income and expenses you may encounter when starting a buy to let business.
It’s my hope that you can read this and take something away that will help you make informed decisions on your current, and future, investments.
I will update this report as and when changes occur. As the rent for both properties include bills, I use the Cheap Energy Club website to find the best deals for gas and electricity when contracts expire.
Property 1 – Let to 4 Students @ £131.25 pppw with bills included
|Letting Agent Fees @ 12%||£252.00|
|Gas & Electric||£74.00|
|Total Expenses||£1195.82 (B)|
|Net Income (A-B)||£904.18|
Property 2 – Let to 9 Professionals @ £70 pppw with bills included
|Letting Agent Fees @ 12%||£327.60|
|Gas & Electric||£213.38|
|Total Expenses||£1,412.36 (B)|
|Net Income (A-B)||£1,107.64|
|Total Net Income||£2,011.82|