Landlords - is it worth it?

[tamborine]

I rent out a 2b maisonette with garden for �600pm. That's approx �20 pday for 4ppl (family), 24/7! They default on rent regularly.

Is rentals worth the aggro?

[Claud.Butler]

You might think of finding tenants who are on benefits. Some councils run a scheme which guarantees the rent to the landlord.

[Twenty20]

You need to look at your income (rent) against outgoings (mortgage, insurance, maintenance etc) to understand whether it's worth it.

If your tenants ever owe 2 months rent then serve an s8 notice which starts the procedure to have them leave. You can also issue an s21 to terminate the tenancy at the end of a fixed term or with 2 months notice if in a periodic tenancy. There are plenty of tenants out there who pay on time.

Personally, I wouldn't take on any tenant on Benefits. There's a reason they're on Benefits - they don't have any money. A lot of Councils who pay the rent won't pay the full amount of rent anyway and often pay it directly to the tenant who then fails to pass it on. Also, they pay in arrears by several months.

[geno500]

Hi I think that your question is do I want to go on renting out the maisonette I have rented out property over the years ,I sold the last one March 2008 in the housing boom of the last 10 years people have relied on value of there property going up and have ignored a simple rule of thumb what you pay or what the property is worth you should get all your money back in 20 years,I suspect you use a agent I never did ,so you may get something like �5500 so if the flat is worth more than�110,000it's a seller.