Buy to let advice please

adethecat

Hi,

Any advice or tips greatfully recieved I'll try and make it brief...

I own a house owing 30k in a popular University city but I'm fed up and desperate to move to the seaside.
I have missed out on 2 seaside houses and have my heart set on a one on the market in a popular location.
My own house is in a great location for letting but so much for selling, it has been on the market for 2 months with not much interest... i have even dropped price by 10k and still not much interest... so... Is it worth my while going for a let to buy? What are the pros and cons of being a landlord ?

Ade

myhouse_2

Tenants trashing your place is a real risk. Even if they don't trash it, you'd be surprised at how bad the place might look after successive tenants have decided to repaint (badly) and change a few things here and there. Maintenance charges WILL be higher than you expect, expecially if you're not living locally.
It's usually not easy money - you will have to earn it in many cases, and you might find the rewards are not what you expect.

jebervic

Being a landlord is no fun, best avoided in my opinion

Pro's

someone paying your mortgage

Cons

Repairs
someone trashing your house
they don't pay the rent
days in court when it all goes wrong
making sure you comply with all health and safety regulation
lots , lots more

diable

Its a job and you need to work at it and you may get lumbered with fussy (tenants who know their rights) tenants. Its not for the faint hearted.