The new year has started and I have expenses on my rental property. January always seems to be an expensive month for me.
I am so glad I have this managed through an agency, I know it means I am paying more as I lose some of the income due to fees but they take all the calls and get repairs done quickly and at a good price (trade) – better than I can get privately. I have no intention of becoming a professional landlord with a portfolio of properties.
The tenant says the shower is playing up – so the agent is going to send someone round to check it out and see if its a repair or a replace. Just the typical wear and tear, I also have my tax bill to pay this month.
My accountant has sorted out the rental income/expenses and due to other issues with my tax code, I don’t have a big bill to pay for the last tax year – this one will be a different matter.
I am just hoping that the tenants are happy and renew the tenancy this year for another 12 months. That would help to stablise my income stream for the year.
I have had a good month with dividend payments this month so these expenses will be offset by dividend income to balance them out.