Invest £70000?

droopsnoot

You still have to watch it, though. A friend of mine rented his flat out to someone getting housing benefit on the basis it would be safe, then the claimant stopped signing on properly (it was a few years ago) and the DSS stopped paying the rent. Then it was quite difficult to get rid of the tenant. While I see the possibility of better income and that many, many people have great tenants, just aiming at people on housing benefit doesn't make it much safer in my (albeit limited and second-hand) experience.

BugsyBrowne

droopsnoot wrote: »

You still have to watch it, though. A friend of mine rented his flat out to someone getting housing benefit on the basis it would be safe, then the claimant stopped signing on properly (it was a few years ago) and the DSS stopped paying the rent. Then it was quite difficult to get rid of the tenant. While I see the possibility of better income and that many, many people have great tenants, just aiming at people on housing benefit doesn't make it much safer in my (albeit limited and second-hand) experience.

Agree there's bad tennants but trust me if the tennants didn't pay they would be physically removed by force whether its against the law or not.

I do know he meets his tennants first and TBH no ones let him down as yet touch wood.

Gadfium

I looked into BTL, but was totally put off by the experiences of an acquaintance, who's property has been trashed by the tenant. The letting agent did the square-root to help and looks to me, to be negligent when they were doing their 3 month property checks. A rather large bill has now to be met to completely redecorate, replace the kitchen and damaged wooden floors.

No investment is without risks.