What kinds of expenses could you face when taking on an investment property?

• Landlords are liable to pay Local Property Tax (LPT) where a property is rented under a lease of less than 20 years - check out www.revenue.ie for details.
• There may be management fees if your property is part of a complex or development.
• Try to build up a contingency fund to cover your costs when the property is empty or to pay for unexpected repairs and maintenance like replacing the heating boiler for example.
• If you decide to engage an agency to work on your behalf don’t forget to allow for agency fees.

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