Allowable Expenses

The following are examples of expenses that can be claimed:

  • Rents payable by the landlord in respect of the property, e.g. ground rent
  • Rates or levies payable on the property, i.e. water rates, refuse collection, etc.
  • The cost of any service or goods provided by the landlord, e.g. gas, electricity, central heating, telephone rental, television, broadband, etc. for which they do not receive payment
  • Maintenance, e.g. cleaning and general servicing of premises
  • Insurance of the premises against fire, public liability insurance, etc.
  • Management, e.g. actual cost of collection of rents, advertising, etc.
  • Legal fees to cover the drawing up of leases or the issue of solicitors letters to tenants who default on payment of rent.
  • Accountancy fees incurred for the purposes of preparing a rental income account
  • Wear and Tear on furniture and fittings, e.g. carpets, cookers, central heating, etc. Wear and tear is currently 12.5% of the original cost of furniture and fittings.
  • Interest paid on money borrowed for the purchase, repair or improvement of property subject to a restriction of 75% of the interest paid for residential properties.
  • Repairs e.g. decorating and general upkeep of the property. A