To Rent Out Or To Sell

[Ric.ror]

Just seen the estate agent. He's priced my house at £250k to achieve under that for stamp duty or £980 per month to achieve £950 and then there's 12.5% management fee which I think is up to negotiation
No mortgage after 1 July so what should I do?

[saintpeter48]

Sell, renting is a nightmare if you get a ''wrong'un'' in there, a friend of mine only last week had to get bailiffs in to remove a tenant, its ended up costing him nearly £8000 in lost rent and court fees, spoke to him this morning and he is now decorating and getting it ready to sell on, good luck.

[ladybirder]

Where will you live if you rent it out?

[murraymints]

sell ...but what are your plans ? to downsize and move ? is it worth the hassle and expense that brings ?

[Ric.ror]

I live in my mums flat - tent free
If I was to sell I'd still buy a smaller property to rent out with some of the proceeds to supplement my income and (when I have to move out or retire)

[Ric.ror]

That's RENT not TENT

[albaqwerty]

I don't know where you are, but have a very good look round for smaller properties to buy from your proceeds and see what rental they bring in.

(love that you live tent free though xx)

[Ackybear]

I have rented out property for 21 years and 98 per cent are good tenants ,I did have one person whom we had to take to court but it only cost 120 pounds and he was made to pay arrears over a period time .
Most landlords dont like taking people who are unemployed but I have found they ae the best people for the following reasons
! They are grateful if you take them on ,
2They tend to look after the accommodation because I normally tell them that I will be checking every two to three months .
When I take them on i ask them to make arrangements to have the rent paid directly to me from the Benefit office .Henceforth I always get the rent paid .and most tenants are more than happy with this .
3 I give them 6months rent agreement and tell them if they keep the accommodation tidy I will renew it . This works every time .
I am kind to my tenants Taking them free range eggs every so often and they see that I care about them and want them to be happy
4 I always rent my properties out half furnished this helps poorer people but you dont have to do that
5 I never go to estate agents they do nothing when things go wrong
I advertize for a good tidy tenant who will be treated well as long as property is kept in good condition and also that DHS people welcome
Nothing is selling at the moment so go for it rent it out and invest in more property. 21 years and we have done well but you do have to show respect and treat youtr tenants the way you would like to be treated yourself
I have had many tenants who have looked after the property and the gardens and to thank them I have reduced their rent a smallamout so allow a bit of lee way here linda Jones

[jennyjoan]

sell deffo