Does anyone let there property and rent somewhere else

[pud1]

i am thinking about this as an option as I have a 2 bed flat has been on the Market forever. How much would you feel I would need in the bank as a fall back. I am worried about not having a tenant and having 2 properties to pay for. My Morgans is £600 pm and I would be looking to rent for about the same

My daughter does this too. she was worried about her flat having empty periods or tenants not paying as the flat she rents is over £200 more than the mortage on her flat.
she pays 15% to the agent who will pay her rent from insurance if a tenant defaults. also she has a waiting list of tenants ready to rent when the contract expires. Theire is a shortage of good rental properties in the SE.
Did you know you have to inform your lender that you are renting out your flat? after 6months the mortage reverts to a buy to let mortgage and the rate goes up as it is higher for a buy to let mortgage than residential!
We have just bought two properties on a buy to let mortgage and in the process of doing them up for the rental market.
we have been advised not to spend too much money or make them too nice by the agents as tenants don't look after them.
One is a 2 bed edwardian spacious flat rent £850 pcm and the other is a 2 bed victorian semi for £800pcm both with nice gardens but permit parking.
Hope this helps.