that tenant would have been cancelled the minute that issue with clean...when it is totally fine. signs of problems to come

We didn’t put up rent for our tenant for years, same rationale. No dead periods, constant reliable rent and well maintained. Wife didn’t agree, but money kept coming in!

Personally, getting a professional clean at the start of the tenancy with the agreement that the tenants will do the same at the end of the tenancy just takes so much potential for disagreement away. If they pay you or agree to have the money taken out of the deposit that covers the cleaning for the next tenant and so it rolls forward.

Watching this, I can understand why landlords are selling up and putting the funds in the stock market instead, it's definitely not passive and the margins aren't as great anymore.

I feel your pain. I managed to finally sell my rental last year, very happy to get rid!

Good vid. Thanks for your candour and honesty.

I’m just finishing up the sale of my rental property😂in fact I sent of the capitals gains tax form today. I became an accidental landlord in 2012, it was my main residence from 2006. I was in the military and got moved away. After leaving I never settled back in the area. However, my tenants gave notice in mar 26 to leave 01 May….i took this as a sign to sell it due to the new renters act. It’s clear the government don’t want sole landlords. It went on the market beginning of June and sold end of Jun, asked £200k accepted £185k from a first time buyer. So glad no more tax returns, government pleasing and headaches. I feel free, and a little bit richer.

you are too nice of a landlord...would have never

Feel your pain. Managed to sell our buy to let after 10 months. Estate agent started at £200k, but we dropped price to £185k and finally sold at £175k. Mortgage deal ran out so we were paying £550 month plus council tax plus energy bills each month.
GLAD IT'S OVER NOW

You've done ok to get through it. £10k out with nothing in would be catastrophic to quite a few single property landlords. The interest only deal saved your bacon, imagine if it was repayment. Everything is in place for a good tenancy now, make the agent work for their commission, they manage it now remember. Good luck

I ran my rental insurance contract through an AI and decided it wasn't good enough; there were too many loopholes. Run yours through one as well to get an idea of how good it is, if you haven't.

Good info in there....thank you.

Mortgage isn't an expense, just interests are, not what goes to pay off the principal.

On the flip side, I do count taxes as an expense because they are not the same for all investments.

For example, when you invest in stocks you won't have to pay any tax until you sell, which is a massive upside.

Very interesting breakdown, thanks for the video

Articulated clearly and with useful information!

There are tenants who have a good vibration and make things work then there’s those no matter what they get nothing is good enough no gratitude 🙏

The issue with the tenant on moving day  could be the first of many issues. I had good tenants for 5 years then a couple that were always moaning. Luckily, I had a good letting agent managing the property so they were used to dealing with these type of tenants.
It did put me off being a landlord. Property prices were not increasing, renters rights bill came in so that was when I decided to sell.
The landlord insurance is well worth it for piece of mind.

My rental is due for completion end of this week. 7 months without income - its a proper cost that is never explained.  filed under transaction costs. Praying it goes thru.

My story is extremely similar to you. good job on the vids.

I inherited a property 12 years ago. Let and two tenants in this period. Never raised the rent during either leases. Never had one issue with either tenant other than a few repairs.

Sold two properties earlier this year to a property buying company,got more than I expected had three companies fighting to buy them,made a loss but got money in less than two weeks,and moved on