There are good and bad landlords, tenants and letting agents.
I rented for around 4 years, in the same house, never had any issues with my LL whatsoever (he didn't use an agency). However I treated it as my own home, whereas I do believe that some tenants have the attitude of 'it's not my house so why should I look after it'. At the end of the tenancy, not only did I get my full deposit back, but the landlord bought all my furniture off me (I didn't need it) so that he could rent it again but as furnished.
I've also been a LL for around 15 years and I've got a couple of tenants who have been there for over 10 years
There was an awful car accident a couple of years ago and one of my tenants had to leave his home for the day until a structural engineer had confirmed that the building was safe! My agent rang me immediately to let me know what was going on, I told her to give the chap £40 (the rent was only £80 pw) so he could get a good meal etc (although I think it was spent on whiskey!). When I went down there a few days later, he was so grateful, it really was quite touching .... it's the little things that make a difference, from both the LL and tenants
I've also had tenants who, after not paying rent for several months, just before they were evicted, have completely trashed the place, ripping out electric sockets, smashing the bathroom fixtures, ripping out the kitchen, costing me thousands in repairs before I could let it again. Obvious that's an extreme case but it hasn't been unusual to find the tenant has maliciously caused some damage before they leave. I can almost guarantee that these tenants never paid their last months rent, if not more.
I've had a tenant sat on the front steps of my property with a knife telling me to fuck off out of 'their' building .., guess what the police didn't want to know as it wasn't considered serious enough and they suggested I get my agent to speak to said tenant.
I've never made a profit, after mortgage, insurance etc, anything left is generally spent on the property itself. It's a listed building which was converted into flats 20 years ago, so nothing is cheap or easy. I'm not looking to make a profit out of the tenants, so long as the building pays for itself.
I've had letting agents not pass on rent to me, saying the tenants were in arrears, problems with their housing benefit being paid etc etc ... it was only after two years of virtually no rent from five flats, I'd had enough. Most of the tenants paid in cash and guess what, most of it wasn't passed to me. Luckily some of the tenants had kept their receipts and miraculously the agents suddenly found the missing money.
Several years I've made a loss and we've had to find the money somehow to keep the property going ... if there are housing benefit issues, or tenants refusing to pay, I can't say to my mortgage provider, sorry not this month.
I can't logistically manage the flats myself but the agent I have now is amazing and has a brilliant relationship with her tenants.
You see ....
Good and bad landlords
Good and bad tenants
Good and bad agents