Buying next door to let out?

amcluesent

I live in a mid-terrace, mortgage free.

My neighbour, end terrace, has just put their house on the market. I have about £120K in cash chasing a good return, so am a cash buyer.

Am considering wisdom of buying theirs, maybe moving in (slightly larger) and renting one of the houses.

Anyone else with experience of being a LL with tenants next door?

Fire_Fox

I would guess you need to be careful not to be seen to be harrassing the tenants or breaching their right to quiet enjoyment in any way. As a neighbour you might pop over if there are any noise issues; as a landlord you really ought to put as much as possible into writing. Obviously it's a bit odd to be sending recorded delivery letters to your neighbour!

poppysarah

Would you be gutted if your previous family home was trashed overnight and you had to listen to the noise of it being done?

Could be fine. Could be a nightmare.

mess0804

I for one wouldn't rent in this conditions. I saw a nicer and cheper flat with the owner living in the same building and I haven't taken it and it was on the market for some time so many people tink like me. I know that the LL has the right to enter in an emergency... but how can someone argue that you smelled gas? but you wanted just to see if they are keeping the place, if they moved stuff arounf, if they have guests .... oh... no...

Tuscan

if you let it out via an agent, would the tenant even no you lived next door?

bryanb

Tuscan wrote: »

if you let it out via an agent, would the tenant even no you lived next door?

Yes the landlord must give his address to the tenant

PasturesNew

When I was flat hunting, I saw one that looked ideal and a bit cheaper than one would expect. I asked why it seemed so much more for the money, the agent said that many people don't like the idea of having a landlord so close.

I didn't take it because it was a rear annexe to the main house and it had no parking, instead the landlord/his family would have been using the side driveway to park their cars and I could see problems with access. Also, there was a locked gate I'd have to get beyond, half way up the driveway, which meant the postman couldn't ever knock on my door if they had something that wouldn't fit into the tiny post box mounted beside the gate, there was no bell so even friends couldn't knock/visit/ring me to let me know they'd randomly turned up for a visit .... personally, I wouldn't mind a landlord so close (so long as they weren't annoying/omnipresent, as I'd feel the property itself was more secure from a burglary viewpoint. But the parking/postman access was the issue for me.