Originally Posted by
James
Good idea on paper, only it all falls apart when repairs to the house is required which costs money & then when your tennet walks out leaving the place like a shit hole so then more money required & then a lengthy wait for replacment tennets!
Unless you have a couple of properties the rental game is tricky one based on many varibles to actually make money!
I'd say it would be very much dependant upon where your rental property is located. I know from personal experience that flats in Aberdeen city centre are in massive demand and there would be no trouble at all in terms of finding new tennants if the previous ones walked out. Granted tennants could wreck the place, but thats why most people ask for 1 or 2 months rent as a deposit up front, and sometimes use a letting agency to take care of all the hassle.
The flat I rented last year was a 1 bedroom worth somewhere in the region of £90K, and the rent was £600pcm without bills. I think that would have been enough to cover the mortgage payments on it.