Giraffe and Newtimber,
Interesting insights on taxes, thanks!
Zebedee,
Once again, I appreciate your very thoughtful comments.
It looks like I'm priced completely out of this market.
That said, I'll try to incorporate your suggestions in the spreadsheet post above, so that it can help others.
I would also agree that your furnishings estimate is rather low for high end property, but if current carpets etc are ok then together with those allowances and that for curtains you might scape by.
Yes, I lowered this cost item as well as expected revenues in order to switch to a middle market.
Don’t forget you will need at least 3complete sets of bedding and towels to allow for changeovers (1 set in use, 1 spare and 1 being cleaned).
I factored in the cost of a laundry service.
Wi-fi/phone/ cable at £1,200 is very high. You can get unlimited Wi-fi and a phone line for about £50 a month but would need to shop around frequently.
OK, will adjust that one.
What are your plans re a phone? You don’t want guests ringing long lost relatives on the other side of the world.
Ideally, let them rely on their mobiles, if there's decent reception.
What is a £240 WiFi maintenance service???? Never heard of this.
Something I ran across in Cornwall listings that sounds very handy if the PM doesn't take care of it, since it's critical for most guests now.
Life insurance for your mortgage??? Essential on your main home, but if this property is an investment why can’t it just be sold if the worst happens to you.
Some banks demand it, especially for expats like me.
Maybe it helps them hedge against sudden market crashes.
Repairs and maintenance allowance is generous and will allow you to redecorate frequently. I think you will need to allow more for logs, not that much though.
Will add in your recommendations. Thank you!