House won't sell should we try to rent?

Hutch100uk

Personally I wouldn't risk renting it out. I thought I might have to do this when I thought my house wouldn't sell last year. But, I could not have afforded my mortgage payments if a) I got a tenant who stopped paying or b) the house lay empty between tenants.
I got my house sold in the end thankfully. I am now a tenant again myself and a very good one, but there are some bad ones out there and you could end up with one of them.

G_M

** Tenancies in Eng/Wales: Guides for landlords and tenants This thread is intended to provide information to both landlords and tenants relating to Assured Shorthold Tenancies (ASTs) in England and Wales.

Topics covered:

* Repairing Obligations: the law, common misconceptions, reporting/enforcing, retaliatory eviction & the new tenant protection (2015)

* Deposits: payment, protection and return

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

* Rent increases: when & how can rent be increased?

* Repossession: what if a LL's mortgage lender repossesses the property?

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

getmore4less

Get that link up if you want any chance of moving.

Did you do a "more like" this analysis back in Sept and monitor every property that went SSTC since then?

If not you are not that serious about selling into the local market.


As for renting

What's the asking price?
What's the rental potential?

Let's see how realistic that is.

Grumpelstiltskin

O P Nobody here is psychic, without seeing the listing there is nothing any one can advise.

For all we know your house is up for sale at £500K when the next door sold for £100K

So unless you are prepared to put the link up you can't expect any constructive advice.

Crashy_Time

csgohan4 wrote: »

But a BTL brings that risk that a tenant could do this as well as trash the place

If the OP doesn`t want that risk then their only option looks like dropping the price.

Gwendo40

Grumpelstiltskin wrote: »

O P Nobody here is psychic, without seeing the listing there is nothing any one can advise.

For all we know your house is up for sale at £500K when the next door sold for £100K

So unless you are prepared to put the link up you can't expect any constructive advice.

To be honest we don't need to see the listing to offer the OP all the advice they need... any house that has been on the market for a year with presumably no offers and only a handful of viewings is quite obviously overpriced.

seashore22

OP, you've started 5 threads over a period of 6/7 months about this house not selling and not once has anyone been able to help because you haven't posted a link to this property. People on here are many things, psychic isn't one of them. If you want real advice that goes beyond "it's overpriced" then please post a link. It probably is overpriced though.

markin

Gwendo40 wrote: »

To be honest we don't need to see the listing to offer the OP all the advice they need... any house that has been on the market for a year with presumably no offers and only a handful of viewings is quite obviously overpriced.

Or the photos are so bad, plus price, that no one bothers.

PasturesNew

You chose to sell. You did not choose to rent it.

Stay with your original decision. Don't waver.

The market is "odd/funny", if you "want rid" drop the price, else, just wait for "the market" to "sort itself out". It's often not price at the moment. Price has a part to play, but it's other factors preventing offers/sales at the moment too in many areas.

But, you wanted to sell, so be patient.

Crashy_Time

Renting it out might be more stress than trying to sell? Just drop the price.