Skip to main content Menu with new notification Skip to footer

What to do with my rental?

I own the freehold of a small terraced house that I had done up and it broke even. Now it is going to cost at least £7K to repair after tenant left in a state, then break in and more damage, and then more repairs unfold as we speak. Insurer even with help from my lawyer only paid up a small amount. The area is now mostly DHS in the NE and it may be hard to let as only a 1 bed with another room that links sitting room to bathroom, so can't be an official bedroom, more a study. It may not rent out, according to the new manager as the last company left me in the lurch. I'm down south, bought as an investment, but am disabled and not able to go up and try and think of what to do. It wouldn't bring in much income; bought £50K, £5K auction fee, spent about £10K; costs and repairs, now needs another £7K and rented out for £375pm. Advice gratefully received, should I sell to one of these companies/ try rent/buy, try to sell when repaired/ try to rent it out?

Asked on Sep 6 2018, General in UK | Report content

Answers (1)

Was this question useful? Yes 0 No 0
  • Hello Marisa, It may be worth speaking with a few other lettings agents to see what the local demand is for a property like this. If you simply want to get rid of it, but are not a particular rush to sell, it's worth testing with an estate agent to gauge the level of interest. How much do you think the property is worth considering you've spent £10k on it? Thanks, Ruban

    Answered on Sep 7 2018, Report content

Didn't find what you were looking for? Ask a question

More General in UK questions on AskMe

See more AskMe Q&A about General