Money, Money, and More Money: Renting Out A House Simplified
A nice lady from a local property management company came round to value the house. She was very helpful in providing answers to my questions about costs, the major one being work on the house. Other issues being paying the management fee out of the first months rent which means it won't cover the mortgage.
She basically encouraged me to do up the house as much as possible. When the subject of the loft "bedroom" came up, she realised I did not have a building regulation certificate for the loft conversion which significantly impacted on the amount of rent we could ask for as the house cannot legally be advertised as a 3 bed in that case.
Everything in the house needs something doing even though it is essentially liveable in. We spent last weekend patching up holes in the walls, and resealing the bath. Now, we are considering re-carpeting the living room, re-flooring and replacing the joists in the kitchen, redoing the loft so it can be an official third bedroom, then the kitchen counters need doing as they are slowing degrading from sink water, then we should remove the dodgy electric socket behind the oven, and oh wouldn't be nice to have an extractor hood fitted whilst we redo the kitchen, and whilst we're at it, we should probably address the crumbling plaster in the bedroom, and so on and so forth. It never ends.
Before you know it, you've tens of thousands of pounds of work that you really feel is essential... Not that we have the money for all that. But my parents have offered to help with the cost of that work.
It's all a bit crazy thinking about doing up our whole house but never being able to enjoy it. Giving it all as a gift to future tenants. Oh well. We will see what actually gets done in the end.
End of boring adulty house talk. In other Japan news, there is no news. I still haven't heard anything from Interac about police and health checks. Not looking forward to the cost and hassle of those. Rosy is still waiting to hear from HR at work about the possibility of keeping his job. Still nothing to report there.
Watch this space...
She basically encouraged me to do up the house as much as possible. When the subject of the loft "bedroom" came up, she realised I did not have a building regulation certificate for the loft conversion which significantly impacted on the amount of rent we could ask for as the house cannot legally be advertised as a 3 bed in that case.
Everything in the house needs something doing even though it is essentially liveable in. We spent last weekend patching up holes in the walls, and resealing the bath. Now, we are considering re-carpeting the living room, re-flooring and replacing the joists in the kitchen, redoing the loft so it can be an official third bedroom, then the kitchen counters need doing as they are slowing degrading from sink water, then we should remove the dodgy electric socket behind the oven, and oh wouldn't be nice to have an extractor hood fitted whilst we redo the kitchen, and whilst we're at it, we should probably address the crumbling plaster in the bedroom, and so on and so forth. It never ends.
Before you know it, you've tens of thousands of pounds of work that you really feel is essential... Not that we have the money for all that. But my parents have offered to help with the cost of that work.
It's all a bit crazy thinking about doing up our whole house but never being able to enjoy it. Giving it all as a gift to future tenants. Oh well. We will see what actually gets done in the end.
End of boring adulty house talk. In other Japan news, there is no news. I still haven't heard anything from Interac about police and health checks. Not looking forward to the cost and hassle of those. Rosy is still waiting to hear from HR at work about the possibility of keeping his job. Still nothing to report there.
Watch this space...
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