Knew there would be someone on here that could help, so hoping to pick your brains please.
In a rental at the moment and have an opportunity to buy a property as an investment at a good price. Tenant in there for the last two years and is happy to stay on. Problem is, the house is so cheap as it needs a fair amount of work to do on it. I hear you say why buy a wreck. Reason is that it is in a good area with a sea view and once we have renovated / added on it will be worth a fair bit.
Getting to the point now - we have been led to believe that whilst the tenant is in the property, that any money spent on the property as maintenance can be claimed back?!
Can anyone tell me if this is when the work is carried out or at end of Financial Year, how long it takes to get it back and what sort of thing you can actually claim and how the shortfall on rent works please.
Is there also a company you can claim it back through direct (our landlord seems to think there is but he has never claimed anything).
Thanks in advance
Jason & Niki