Turning a 3 bed rental into 4

SadieO

allan154 said:

Saying that, that's my fear leaving my kids with a nightmare rather than an investment. 

My other main concern is the changes to tenants rights and section 21 and it's implications if anyone can please tell me the implications that would be great. But thank you to everyone who has replied much appreciated 

Just in response to a couple of your points that I've quoted. I've heard that a lot of landlords are selling up and getting out of the business as tenants are getting more rights and it's harder for landlords to make a profit. Plus if you get a nightmare tenant, or even a great one who just doesn't want to leave when you want them to, evicting them can be a lengthy, difficult and costly process. 

I think you/ your kids should give some serious thought to investing in other ways. Of course every investment (property, stocks and shares, pensions etc) carries risk, but being a landlord comes with a whole load of responsibilities and hassle too... Whereas with investments such as stocks and shares you can, if you want, just get on with your life while they tick away in the background. They're not going to unexpectedly require you to buy them a new boiler