Comments on: Can You Still Make Money from Buy to Let?

By: Nick

Nick — Sat, 16 Jan 2021 15:45:29 +0000

In reply to Joleisa. Thanks, Joleisa. I am sorry to hear you are having problems with your buy-to-let and hope they are resolved soon. It does sound as though communications from the letting agency haven't been up to scratch. I can understand why you are considering selling up and moving on. I just hope you can get a reasonable price for your property if you decide to do so.

By: Joleisa

Joleisa — Sat, 16 Jan 2021 15:04:56 +0000

Thanks for this very informative and timely read. I find myself clinging to the properties I have and so far they’ve done well for me. Recently, however, I gave one to a lettings agency to manage for me as I was looking for a long term (3 years) fix of not having to go to the property as it wasn’t near me. Long story short, the agency has some arrangement with a local gov agency to let it to a refuge family. For the last 3 months, they’ve billed me for £200 each time for boiler repairs. It might very well be that the boiler is faulty but I can’t help but think I am being taken for a ride as an easy way of making some extra money for them! Due to the pandemic, I haven’t been able to meet the tenants so I don’t know the real situation. It’s times like these that make me wonder whether it is time to sell and move on from this one.
I like that you addressed it from different angles though.

By: Ahmad & CO

Ahmad & CO — Sat, 16 Jan 2021 07:02:17 +0000

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By: Nick

Nick — Thu, 14 Jan 2021 17:07:04 +0000

In reply to Caz / InvisiblyMe. Thanks, Caz. You're very kind. My sister Annie and her then-husband used to let out a house and she told me some hair-raising stories about things their tenants got up to. I won't share them here, but at the time it was enough to put me off becoming a landlord!

By: Caz / InvisiblyMe

Caz / InvisiblyMe — Thu, 14 Jan 2021 16:17:22 +0000

An interesting one to consider, Nick. You’ve very thoroughly covered some really key areas worth thinking about. I think the issue of Nightmare Tenants would be rather disconcerting, but you never know until you give it a go I suppose. There is a part of me that likes the sound of doing something like this, not that I’ll ever afford to of course but in dream world. I like the thought of the commitment, sorting out what goes wrong, making sure my tenants are happy, and hopefully making some extra moolah at the same time. Fab write-up!

By: Nick

Nick — Wed, 13 Jan 2021 15:00:35 +0000

In reply to Claire. Fair enough. Being a landlord is obviously a long-term commitment and it isn't for everyone.

By: Claire

Claire — Wed, 13 Jan 2021 14:41:19 +0000

We seriously considered not selling our flat and keeping it as a rental but in the end we decided there would be too much management involved and we didn’t want the commitment!

By: Nick

Nick — Wed, 13 Jan 2021 11:25:21 +0000

In reply to Rebecca Smith. Thanks, Rebecca. Yes, in my view it can still be a good way of making money as long as you adopt a businesslike approach, are realistic in your expectations, and don't get too greedy!

By: Rebecca Smith

Rebecca Smith — Wed, 13 Jan 2021 11:21:17 +0000

This was a really interesting read. I always saw buy to let as a fairly easy way to make money as I know so many people who do so it is interesting to see that it is still possible to make money from it but the landscape has shifted because it had to. Food for thought for anyone considering doing this.