Ian MacQueen

Registered with Property118.com
Thursday 4th July 2013


Latest Comments

Total Number of Property118 Comments: 5

Ian MacQueen

15:56 PM, 6th March 2013
About 7 years ago

Are Rent Guarantees Worth Buying?

Here is how I view rent guarantee. The guarantee I have seen cost 6% of monthly rental income. I have calculated the money lost through tenants not paying and through properties lying empty between tenants and compared this to the income from each property. For my first property the money lost was just 0.042% of the income and for the second property 0.025% of the income. Therefore, for me I would much rather carry the risk than take out insurance. However, I generally do not have problems re-renting my properties so never have them lying empty for long at all. Hope this is useful. Ian... Read More

Ian MacQueen

12:54 PM, 6th March 2013
About 7 years ago

Offsetting property income tax - READERS QUESTION

Satu -

Many thanks for your comments. I rent both properties out fully furnished. I have been deducting the 10% wear and tear but was not aware that I could claim 10% for property management costs so that is really helpful - I will look into this further. I think I will take the advice of you and Richard and employ an accountant to assist with my tax return for 2012/2013. I have a family friend who is an accountant so will check if they can help first.

Thanks to both you and Richard for your comments.

Ian... Read More

Ian MacQueen

12:54 PM, 6th March 2013
About 7 years ago

Offsetting property income tax - READERS QUESTION

Satu -

Many thanks for your comments. I rent both properties out fully furnished. I have been deducting the 10% wear and tear but was not aware that I could claim 10% for property management costs so that is really helpful - I will look into this further. I think I will take the advice of you and Richard and employ an accountant to assist with my tax return for 2012/2013. I have a family friend who is an accountant so will check if they can help first.

Thanks to both you and Richard for your comments.

Ian... Read More

Ian MacQueen

8:47 AM, 4th March 2013
About 7 years ago

Offsetting property income tax - READERS QUESTION

Richard, thanks for your feedback. Yes you are correct I am asking if there are allowable expenses that I can claim and so yes you have clarified somewhat. In terms of using your own car when carrying out repairs do you simply claim back the fuel costs or can you claim some sort of mileage allowance?

Thanks once again.

Ian... Read More

Ian MacQueen

7:08 AM, 23rd January 2013
About 7 years ago

Landlord registration is costing £400,000 per rogue

An interesting read. I am registered with two councils in Scotland. The Glasgow council and Clackmannanshire council. I have never heard from Glasgow council except when they remind me that my registration is due. Clackmannanshire on the other hand have organised a landlord training session recently so at least I know they are doing something. However, before I had registered with Clackmannanshire council I was able to rent to a DSS tenant with payment being made direct to me by the council, yet no check was ever made on my registration - is this not a big failing by the council? Are they missing an easy way to check for landlord registration? I wonder how many rogue landlords continue renting property without the required registration.... Read More