I have a house I am renting out. The current tenants have been great and I have an excellent relationship with them. Anything they message me about I make sure is sorted asap, and they have taken great care of the house so far.
Their tenancy is up in October and I've a sneaky feeling that they might be thinking about leaving as they want to buy at some point in the future. I'll have a convo with them late Aug, early Sept to find out what they are thinking of doing.
When the next renewal comes round I will be looking to put the rent up to be closer to the market rate as it's been the same since I started letting it out 5 years ago (it was on the lower end 5 years ago).
If my current tenants say they want to stay I will still put it up, but not by as much, but if they want to leave and it goes back onto the market again I'll likely price it in line with the market rates.
Same except for have a flat I am renting out to students. Anytime they have an issue, whether a light bulb needs replacing or there's a communal flat leak, I'm responsive and try get there asap.
They will be moving out in August and I plan to sell the flat. People automatically think landlords are scummy. I own a house and a flat. I did not intend to become a landlord..
I have lost about 50k on my flat, paid 260 in 2017, worth about 210 now. Flat prices have gone way down.
Buy to let is also not profitable. I don't make any money on it, probably lose money, especially when you factor in the price of the flat.
I will be selling it in October this year as there's too much regulation coming in and I can't be arsed with it. It's like a part time job that doesn't pay.