Henry Murray has a second home which he rents for most of the year. It is a holiday flat in Cornwall. The property is rented for $2,100$ per month, but is not rented for the month of January.

The expenses for the period the flat is rented are shown below:

Agents fees $5\%$ of the rent, charged monthly even if not rented

Water rates $70$ for eight months of the year

Maintenance charge $180$ quarterly

Sundry repairs during the year $420,$ washing machine & replacement keys

Insurance on the property $380$ per annum

Cleaner $30/$week for $48$ weeks

Interest at $4\mathrm{.}15\%$ on $180,000$ mortgage. The mortgage payments are $622\mathrm{.}5/$month$.$

Required:

a$)$ Produce a schedule for Henry showing how much net rental income he will need to include on his tax return.

b$)$ When Henry originally bought the property he paid $230,000(50,000$ deposit and $180,000$ on mortgage$).$ It is now worth $315,000.$ Calculate the ROI $($Return on the Investment$)$ for Henry so that he can compare it with the return he is getting on his shares.