Any Landlords sold or selling up? Can't decide what to do...

[LLamaLandlord]

Been a LL for over ten years and I like to think I've been fair and responsible. I've had a couple of excellent tenants, but my current one is causing me stress. It's hard to describe without give identifying detail, but it's just lots on on-going low level stuff, lack of respect for the property and lying about things. She is also very rude and aggressive in all her emails, messages etc.

I'm just wondering if perhaps it's time to sell up? The potential legislation coming in next year will make everything much more difficult if I leave it and as DH pointed out, I could now get the same income by putting the cash in a savings account at the moment, without any of the uncertainty or hassle!
I'm aware it might take months before she leaves anyway, which would mean I might get the house back to sell for next spring if I'm lucky!

Any landlords grappling with similar decision-making and around to share their thoughts?

Hello LLamaLandlord, I was just wondering what you decided to do in the end as I am considering purchasing my first BTL.
Many thanks,
Rebecca

Hi - I decided to sell! House is literally just about to go on the market. I really wouldn’t recommend getting into BTL now, all the cards are stacked against small scale independent landlords and things will only get harder under a Labour government!

@bexg1234 Don’t. When Labour bring in rent control, all sorts of other restrictions such as no fault eviction, you will be sorry. There’s better ways to make some money!

Please feel free to attach the link when it is live. Thank you for your advice.
Many thanks,
Rebecca

Wise decision, OP.

DH inherited his parents house and a shop with a flat above... the stress of dealing with difficult tenants made him ill (not exaggerating, kicked off a heart problem so he needed surgery).
And in addition to the ending of section 21 which will make it harder for good landlords, great for bad tenants, there's likely to be changes in capital gains tax so selling before that happens is a good idea.

This isn't an appealing time to be a landlord for lots of reasons, not least the fact that interest rates are high. We sold last year. That was always the plan as we got older, so as to have our retirement money in lower-risk investments which are also easier to access. But we sold earlier than intended because we can get more money elsewhere. Most of the money is now sitting in bonds which currently make a higher return than the house ever did, with no work, no risk, and no hassle.

In a few years the picture might be different, but I don't see the attraction of buying now.

Good decision.

Even selling can be a complete nightmare, it's so much mote complicated than it used to be.

Private letting will revert to being the domain of the sharks, who ignore all the regulations.