Rent out or sell ?

[Jenkibuble]

Unsure whether this is best place to post this - have also posted under finances:
Youngest has finished education now - 18 , and so I am no longer tied to where I currently live. Their dad remains in the area so in holidays he and sister can still return etc. To add I bought him out the house .
My job could be done completely remotely (currently do it hybrid)
I have been discouraged from renting it out - responnsibilities mainly and non payment of rent / risk of the house getting trashed etc.
Mortgage is 800 a month and been told I could get 1200-1300 rental. The area I live in is subject to licenses for landlords so would have to pay 900 for one (lasts 5 years ) as well as rental insurance and agency commission.

The alternative is selling = is it a good time to do this . I have got the benefit of not being in a rush so could hold for a half decent price . The areas I would look at buying in would be more expensive (though can downsize on space !)
I am loathe to come off the housing ladder completely (leave something to the kids )
I have 24 years left on mortgage . I am 44

I feel I have waited for this time (to be able to relocate ) and now in so much uncertainty .

Any current / previous landlords advise etc.

TIA

Abhorrent behaviour - sorry to hear this

Very rough figures here.

So say £1250 income= £15000 per year

Mortgage is currently £800, this will go up when you remortgage to a buy to let mortgage, but for current calculations let's say that figure, = £9600

£15000 income per year, best case scenario
Less £9600 mortgage =£5400 profit
Insurance £500 = £4900 profit
Average agency costs 10% per month, plus one months rent as finders fee £2625 = £2275 profit per year

Tax is paid on income less expenses, but not capital of mortgage, and only at 20% of mortgage interest, so may miss out again if you're a higher rate payer. Working on the assumption that you've owned the house a long time, so let's say that 1/3 of your mortgage is interest and you're a 20% tax payer.
That would make £15000 income, £6325 deductible expenses = £8675 taxable. 20% tax on that = £1753 tax to pay

£2275 - £1753 tax = £522 profit per year, before anything breaking/ needing replacing/ void periods/ tenant not paying.
Plus you don't have a deposit for your new place as your equity is tied up in the house.

Why don’t you sell it and move somewhere else then? Surely most people need the money from the sale to go towards a new purchase and to keep the new mortgage as small as possible.

Surely you must have built a network/community having lived in the area for so long? What are your reasons for moving?

Sell it and buy elsewhere. The hassle vs any modest return you might make from rental isn't worth it. Put any spare cash into an ISA global index tracker fund or your pension.

Sell! Being a landlord is an absolute nightmare
I’m currently selling all of mine as tenants are a complete pain in the arse - trashing houses , not paying rent etc etc
then a massive drama getting rid of them
not worth it at all