It’s important to note that upgrades and improvements are not generally (rental property) allowable expenses, so you should carefully consider whether spending the money will be worth the return. If you need to upgrade a bathroom or kitchen, replace carpets or laminate, or carry out any other improvements to your property, this also needs to be accounted for in your total rental property expenses. Landlords should consider keeping track of both general and emergency maintenance costs using a income and expenditure template spreadsheet. Emergency call-outs from plumbers, electricians and heating engineers will be more costly than regular maintenance. Emergency repairsĮmergency repairs also need to be accounted for when it comes to calculating or forecasting your total buy-to-let expenses. These are all examples of rental property allowable expenses as these expenses exist ‘wholly and exclusively for the purposes of renting out the property’. This includes any necessary maintenance that isn’t an emergency, for example non-urgent repairs to paintwork, units or appliances, cleaning and gardening. One of the most unpredictable rental property expenses is ongoing maintenance.
