Renewals or 10% Wear & Tear

BIG WAL
BIG WAL Registered Posts: 133 ? ? ?
I tend to recommend clients use the Wear & Tear allowance when letting for furnished property.
However, someone's come back to me saying they would prefer to use the Renewals basis on some
properties because of low rents being obtained.

Does anyone have any opinions as to whether that makes sense financially ?

Comments

  • JodieR
    JodieR Registered Posts: 1,002
    depends how much they're planning on spending on furniture. if they're not getting much in in the way of rents my guess would be that they're not going to splash out on furniture, but I could be wrong.
    Just remember that there's no allowance for initially furnishing the property, only on replacement items.
  • T.C.
    T.C. Registered, Tutor Posts: 1,448
    Yes, it does depend on expenditure. It is worth checking each case on an individual basis.
Privacy Policy