My Monthly Income Report

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 

Income £2,100.00 (A)
Expenses:  
Mortgage £712.75
Letting Agent Fees @ 12%                £252.00
Insurance £19.97
Gas & Electric £74.00
Water £63.50
Broadband £32.00
Council Tax £0.00
Sky TV £28.40
TV Licence £13.20
 Total Expenses £1195.82 (B)
 Net Income (A-B) £904.18

Property 2 – Let to 9 Professionals @ £70 pppw with bills included

Income £2,520.00 (A)
Expenses:  
Mortgage £596.24
Letting Agent Fees @ 12%                £327.60
Insurance £51.44
Gas & Electric £213.38
Water £45.70
Broadband £34.00
Council Tax £144.00
 Total Expenses £1,412.36 (B)
 Net Income (A-B) £1,107.64
Total Net Income            £2,011.82  

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