BTL: how much to allow for repairs?

[eteb3]

Can anyone give a sense of typical repair and maintenance costs on a buy to let?

Massively varies of course but I’m trying to do a business plan before setting on any particular property, so want to have some ballpark for costs.

Any sense of how hard the bank will stress-test the interest rate would be useful too.

Thanks

 

[WaveJumper]

Blimey how long is a peace of string string this could depend on age of property, type of tenants you have, my son-in-law has tenants who seem to break every thing they touch.

Another family member had a letter from the council the other month complaining about the rubbish in the front garden at one of his BTL he shot round there to investigate and found the tenant had stripped out the new kitchen he'd installed and put their own in

As you gathered I can't point you in the right direction but there's a few on here who I am sure will, my only advice would be do you really want to get into this and if you do pick your tenant with the upmost caution. Wishing you the best of luck

 

[Mark T Jones]

I work on the assumption of an 11 month year, leaving the one-month as an allowance for change-overs, delapidations, (occasional) non payment etc.

BUT it's a leasehold flat, so insurance, and all external maintenance is covered by an annual management charge (by total coincidence, also equivalent to one month's rent) - over and above my own deduction.

Apart from pot luck, it also depends how much you can do yourself.


As an aside, I'd definitely recommend landlords insurance