Pay off mortgage and start having even more fun 😁

daisy_1571

If I may suggest though, ahem, but that wouldn't be an emergency as it would either be the end of the tenancy which would be known in advance or you would have contractual notice it was happening. Nor would it be correct for it to come from an 'emergency fund' as you have already identified you most likely will have such a need but not for some time in the future so you have plenty time to prepare, or rather the business has.

That would be something that you might decide to put, for example, depending how urgently you want to have funds 1%, 10%, 25% of the current rent away each month in a pot called 'rent free period ' or 'no tenant' or something (better lol) that makes sense to you, same as you do for tax, insurance, maintenance and other business costs. That money builds up automatically each month until it reaches a 'x times month rent' or '£xxxx' or just continues to build through the tenancy/tenancies until you have a fallow month or two.

Thats what I mean by the difference to a general 'emergency fund' - you take all the things that you need on a monthly, 6 monthly, annually, ten yearly basis and save for them. Things that might constitute an emergency to the unprepared but is a known future expense to the prepared will already be covered by the pots. Things that are a genuine wow, never saw that coming you would either fund out of general savings or borrow from a fully stocked pot that you won't need immediately then work out a plan to replace it.

And you are going to fully fund a 'cruise' pot, a 'bargain cruise i spotted' pot, an 'its an emergency I need to go on a cruise' pot and a 'gosh has it really been 4 months since I've been on a cruise I need another one' pot so you won't need a general emergency fund for that either 😂🤣😝

Dxxxxxxxx

South_coast

Loving the cruise pot names 🤣 And I believe an empty rental is usually referred to as a "void". But "no tenant" works equally well 😘