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?
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