Oz Tax Return - UK Property?
Jul 14th 2010, 11:31 pm
#31
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Joined: Feb 2008
Posts: 457
Re: Oz Tax Return - UK Property?
It is very unusual for landlords to pay council tax or water rates? Who is the critical illness cover for? I would have thought you would be better of having landlords insurance which covers your loss of rent should the tenant default or be made redundant during the tenancy.
I rent several properties in the u.k. and find Agents management as useful as a chocolate fire guard! LOL! All they do is phone you anyway when something goes wrong! And check that the tenant has paid the money in each month.
The best way to use agents is tenant find and credit ref check only oh! and hold the deposit that should be just one months rent. All you need then is either a decent odd jobber or a plumber and electrician who you can call on not much else can go wrong.
Good Luck anyway!
I rent several properties in the u.k. and find Agents management as useful as a chocolate fire guard! LOL! All they do is phone you anyway when something goes wrong! And check that the tenant has paid the money in each month.
The best way to use agents is tenant find and credit ref check only oh! and hold the deposit that should be just one months rent. All you need then is either a decent odd jobber or a plumber and electrician who you can call on not much else can go wrong.
Good Luck anyway!
Our agents I'm glad to say have never let us down. They know we are good landlords, contact us with any problems that might cost over a set amount.
Obviously every one must make their own decisions to suit their own circumstances, so this isn't intended to be critical in any way, just putting an alternative view.
Jul 15th 2010, 12:20 am
#32
'Made in Ulster' Member
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Joined: Dec 2008
Location: Brisbane, QLD. (Though an Ulster girl through and through!)
Posts: 6,578
Re: Oz Tax Return - UK Property?
I disagree about not using a management agent to manage a UK property if you live overseas. We have used good and well respected agents in both Nottingham and London to oversea our properties. We have been renting out our properties for over 12 years, and can't praise them highly enough. It can be a logistical nightmare to find good long term handy men etc. might work in the short term, but if you aren't on the spot and the trades mens circumstances change, not easy, plus it can be very stressful trying to sort problems out long distance.
Our agents I'm glad to say have never let us down. They know we are good landlords, contact us with any problems that might cost over a set amount.
Obviously every one must make their own decisions to suit their own circumstances, so this isn't intended to be critical in any way, just putting an alternative view.
Our agents I'm glad to say have never let us down. They know we are good landlords, contact us with any problems that might cost over a set amount.
Obviously every one must make their own decisions to suit their own circumstances, so this isn't intended to be critical in any way, just putting an alternative view.
Jul 15th 2010, 12:28 am
#33
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Joined: Aug 2008
Posts: 22,348
Re: Oz Tax Return - UK Property?
Jen, I noticed you mentioned earlier that you're paying 6% letting agents fee. Is that self managed? I had a quote a couple of days ago for 13% and am arranging to interview another agent soon who's offering 12%.
Jul 15th 2010, 12:43 am
#34
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Location: Brisbane, QLD. (Though an Ulster girl through and through!)
Posts: 6,578
Re: Oz Tax Return - UK Property?
Yeah it's about that, but he gave me a discount cos like the tenants, I paid 6 months upfront! It's fully managed and he is a real gem!
Jul 15th 2010, 1:24 am
#35
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Joined: Aug 2008
Posts: 22,348
Re: Oz Tax Return - UK Property?
. The commision that I'm being told that's charged around these parts is between 10 and 15%. I've sort of short listed two reputable agents, I just have to play them off against eachother now to get the best deal 
Jul 15th 2010, 1:28 am
#36
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Re: Oz Tax Return - UK Property?
You're are very lucky... And I'm sure you could charm the birds out of the trees if you set your mind to it . The commision that I'm being told that's charged around these parts is between 10 and 15%. I've sort of short listed two reputable agents, I just have to play them off against eachother now to get the best deal
. The commision that I'm being told that's charged around these parts is between 10 and 15%. I've sort of short listed two reputable agents, I just have to play them off against eachother now to get the best deal
Jul 15th 2010, 1:36 am
#37
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Posts: 22,348
Re: Oz Tax Return - UK Property?
I reckon that'll be the easy part. ATM, house-wise I'm working on making it tenant proof: Fixing professionally once and for all the quirky aspects of it which as the home owner I applied temporary fixes. I wonder if the expenses of these works are tax deductable if done before we vacate in October 
Jul 15th 2010, 1:47 am
#38
'Made in Ulster' Member
Thread Starter
Joined: Dec 2008
Location: Brisbane, QLD. (Though an Ulster girl through and through!)
Posts: 6,578
Re: Oz Tax Return - UK Property?
I reckon that'll be the easy part. ATM, house-wise I'm working on making it tenant proof: Fixing professionally once and for all the quirky aspects of it which as the home owner I applied temporary fixes. I wonder if the expenses of these works are tax deductable if done before we vacate in October
