Landlords - do you have an exit plan?

[good96]

Reaching out to fellow landlords out there - do you have an exit plan when it comes to selling up?

We have been investing in property since the mid 1990s and at our prime, we had 9 properties.
In the last 5 years, we’ve started to sell off some of our properties for various reasons. We now have 4 properties left and now at the stage where we will be retiring in the next 2 years. We thought about continuing with the 4 rentals - all mortgage free - we are in two minds to keep the rentals and still have a monthly income and leave in our estate for our DC when we die or just sell them…

For context, we have our pensions and we still have cash in bank that can give us a very comfortable retirement. We are in the process of selling our home and buying our forever home that needs complete renovation and will cost about £150k to do all the works…

Be interested to know what others have done?

I've got a single property with about 3 years left on a fixed rate mortgage, and if things head the way they are threatening, there's a good chance we'll be selling at that point. It's an affordable rent, nice enough area and a well looked after house, so it will be a shame for our tenant/ any tenant that's in there, but it will be snapped up to buy fairly quickly, whether by an investor or a family. Another rental leaving the market, but it's just not worth the risk of havoc that the potential new changes are going to cause.

Have sold one. The other will be taken off the rental market when the current tenant leaves, they’ve just told me they’ve bought a new build, am absolutely delighted.

I won’t be selling, we are only stopping renting it due to all the upcoming restrictions.

What will you be doing with the property once the tenant leaves if you are not selling it or renting it out?