Sell or rent?

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Helen McKintock
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I know buy-to-lets can be an investment (depending of course what happens to property prices) and especially the purchase of large old houses in cheaper areas which can be multiply let or bargain priced new flats where the rental yield well covers mortage payments.

But I am wondering if letting is worth all the hassle and indeed whether in my case it is financially viable. I am wondering whether a lot of you landlords are reluctant (i.e. unable to sell)???

I've just had my first experience of letting..........not only did I have a rogue letting agent (who tenanted my house unsuitable , didn't pass the rent on, pocketed the deposit instead of paying it into one of the deposit schemes......and more) but the tenant got into arrears and has now abandoned the premises leaving a lot of damage and rubbish to be cleared etc. And even if the rent had been paid I worked out even with the paltry rates of interest nowardays I have worked out that a 5% rate of return (money tied in for 5 years) would produce a similar return to renting.................and the property is depreciating in value as it is not being looked after by tenants...............?? My property is now empty and I would have to refurbish it to bring it up to standard to re-let.........Comments please

27/08/2010 00:00

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