Hi All,
Has anyone thought about doing the maintenance of their IPs instead of using suppliers due to the ring fencing rule? We know ring fencing is coming in and likely to be backdated to April 19, so I see landlords questioning why they should incur the costs of outsourcing maintenance like painting, etc
There's only so much you can pass onto the tenants, so the can will be kicked down the road with a lot of maintenance and that will hurt the sole operators.
Before ring fencing you could offset the time and materials and other expenses against other income it made sense to work on creating more income and paying for the maintenance. However I can foresee a couple of things happening due to the ring fencing -
1. maintenance will be put off until it's absolutely necessary - and it can be immediately passed onto the tenant
2. DIY maintenance - instead of using businesses - this will hurt the economy
I wonder if the Gov't has factored in the cost to the economy with less work for the cottage industry operators of which the property sector has thousands of sole operators.
cheers,
Donna
Has anyone thought about doing the maintenance of their IPs instead of using suppliers due to the ring fencing rule? We know ring fencing is coming in and likely to be backdated to April 19, so I see landlords questioning why they should incur the costs of outsourcing maintenance like painting, etc
There's only so much you can pass onto the tenants, so the can will be kicked down the road with a lot of maintenance and that will hurt the sole operators.
Before ring fencing you could offset the time and materials and other expenses against other income it made sense to work on creating more income and paying for the maintenance. However I can foresee a couple of things happening due to the ring fencing -
1. maintenance will be put off until it's absolutely necessary - and it can be immediately passed onto the tenant
2. DIY maintenance - instead of using businesses - this will hurt the economy
I wonder if the Gov't has factored in the cost to the economy with less work for the cottage industry operators of which the property sector has thousands of sole operators.
cheers,
Donna
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