AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
We're going to rent out our Edinburgh flat. We're hoping to maybe get around 800pcm for it.
Its got 2 good size bedrooms, master has en-suite. living room, kitchen and bathroom. It also has two big walk-in cupboards off the L shaped hall. Exclusive parking space with two permits.
Its in a kinda trendy young area of Edinburgh, The Shore.
The flat will be let fully furnished.
thoughts?!
[Edited on 08-04-2007 by AK]
|
Colin
Member
Registered: 4th Apr 02
User status: Offline
|
Liking the Elephant 
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
he's from India....carried that 42kg lump home with us after one holiday 
|
Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
|
Hole in wall for the TV wires?
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
eh?
|
Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
|
There's no wires coming off the TV.
Either there is a hole in the wall for them, or you've just got a tv, that doesnt plug into anything
|
Russ 200sx
Member
Registered: 29th Dec 05
Location: Bagillt - Flintshire
User status: Offline
|
there will be a socket fitted behind the tv 
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
the wires go behind the wall yes....
we'll rent it out with a flat screen TV (smaller cheaper one)
|
John_C
Member
Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
|
only thing is with furnished is that your have o fix every item that goes wrong. can be a pain in the ass and expensive
|
MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
|
Pictures do it justice...excellent AK..
Also I have to agree about the furnished point...for the extra £100 odd extra a month it isnt worth going with furnished as it leaves you open to having to replace/repair items...
I would go unfurnished that way you leave a shell...therefore nothing major fixture wise can go wrong...
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
cant see much going wrong with a sofa that isnt tennant related
even unfurnished places normally come with kitchen appliances and white goods... so not much difference there.
If they break a bed or whatever its not going to cost 1200 (100 less rent a month per year) to fix (if thats all they break)
|
C2RL R
Member
Registered: 28th Mar 02
Location: Redcliffe, QLD
User status: Offline
|
looks very nice that. got any info on how the DVD storage shelves are fitted into the wall?
|
Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
|
It's an ikea unit cut up a bit...cut a hole in the wall and shoved it in
our walls are very thick so can get away with it
|
C2RL R
Member
Registered: 28th Mar 02
Location: Redcliffe, QLD
User status: Offline
|
what is the wall made from?
|
Andy Stocker
Member
Registered: 31st Aug 00
Location: Herts Drives: Porsche 911
User status: Offline
|
We pay £750 a month here & thats unfurnished.
Have you looked to see if other flats in the block are being rented?
Seems a fair price to me considering its gonna be fully furnished
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
quote:
Originally posted by C2RL R
what is the wall made from?
what
play dough :/
timber frame and plaster board for that wall. Supporting walls and external walls are stone, with timber frame and plaster board. Outer walls (edges of flat.... ) have double plasterboard.
|
Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
|
if you leave fee behind ill take it..
|
Jules S
Premium Member
Registered: 24th Dec 03
User status: Offline
|
Considered capital gains tax?
Having just had the misfortune of having to look into that shite it's totally made me re-evaluate things in the last month 
|
Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
|
Yeah....can't really decide what to do about that....
Can't really put the flats in just one name, because of the mortgages being in joint names.
You get a personal annual allowance of £8k, so would only pay CGT on any profit made above £16k
It is a bit of a fecker though...might consider changing them into just one name each in the future so that we can try and get out of it
|
John_C
Member
Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
|
^^ are you guys talking about rent coming under cgt? if not disregard this...
rent will get taxed as income not under cgt
|
Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
|
no....when you come to sell them....
any profit from a property other than your home will be taxable
|
John_C
Member
Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
|
yeh i was just checking sounded like you were talking about the rent! There are lots of reliefs, (i) if you have lived in the property before you come to rent then capital made up to that point wont be taxed as it would of been a main residence. (ii) if you hold the property for 10 years cgt will be charged at 24% not 40%. plus any capital cost improvements can be taken of the final taxable total
[Edited on 11-04-2007 by John_C]
|
AK
Member
Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
|
quote:
Originally posted by C2RL R
looks very nice that. got any info on how the DVD storage shelves are fitted into the wall?
originally was a freestanding Ikea CD/DVD rack.... at apox 6ft.
Measured up where we wanted it on the wall, chopped the rack to fit and re-fitted its base.
Made a frame for it to sit on and be screwed to (top middle and bottom). Screwed it in, fitted a wooden bead round the edges to cover fee's brilliant measuring skills and holes in plaster. Used Caulk to get nice smooth seams, then stained the bead to match the dado rail.
voila
|
