Do I sell my letting property?

Do I sell my letting property?

10:56 AM, 5th April 2023, About A year ago 41

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Hello, Not a long one this!

I’ve had a 3 bedroom semi for 4 years, let it to a single mum with no real issues but she’s now given notice as she’s met a partner.

Do I sell?

The house is fully paid for, EPC grade C, fully checked and up to date regarding gas/electric etc.

The main reason for this question is up and coming changes in legislation and CGT, reading about issues with non paying tenants, house probably needing a new bathroom/kitchen in the next 5 years (but that might be me being picky).

House is a k rendered 3 bedroom with extremely large garden and allotment, located in a small cul-de-sac in Yeadon, Leeds, west Yorkshire and valued at £180k.

Am I safe continuing renting, or should I get out while I can and bang the money in a high interest account?

Thanks in advance,


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9:43 AM, 8th April 2023, About A year ago

It’s down to you as an individual.
If you keep the property do you want any more? Leeds is a great place to invest and Corps companies are spending massively there atm in housing/ commercial properties.
Create a ltd company if you want to expand in a portfolio and be tax efficient.
Have it managed to take all the stress away esp the legal side.
The capital gains tax threshold is reducing but if you keep you Btl and redo kitchen/bathroom etc you can offset this against your CGT when you sell. Certain restrictions apply.
There’s a lot of landlords exiting the market but there are also investors purchasing Btl up as they see it as the optimum time to buy if you look at some property gurus and their opinions based on historical facts of the housing market.
Shortage of houses
Btl landlords leaving the market.
Interest rates high.
Ppl can’t afford mortgages with the stress tests.
Rents will go up due to shortage of properties increase ppl needing somewhere to live.
Houses will follow suit but will take longer for increases after this reset.
Good luck with whatever you choose.


11:05 AM, 8th April 2023, About A year ago

I have been in BTL business for 25+ years now, and as per my previous comments I think now is the time to exit. I operate 4 properties under a LTD company and 2 as a partnership (I did have 18 properties not so long ago). When I started the property prices were sensible, no so these days. I uses to take people on benefits, not any more - I would try and find any excuse not to take people on benefits whose rent is paid by the local authority as its a barrel of misery. If the claimant changes income for any reason the rent will be stopped for anything up to 3 months while the claim is reassessed. As for landlords spouting the I will just increase the rent to cover any future legislation (eg EPC C upgrades), well you are living in a dream world. Tenants are already paying more than they can afford. All you will get is a tenant who just doesnt pay. Luckily my remaiing 6 tenants have all been with me for 5+ years and I have no intentions of turfing them out, and I keep the rent below the average for the area. I have been on the TV Money program a few times as one of the landlords who was losing money during the last housing crash. I am still here and am sitting on a profit of £1m+ .. good luck to any new entrants.


11:58 AM, 8th April 2023, About A year ago

Reply to the comment left by Ross Bradley at 08/04/2023 - 09:43Thanks for the reply, I've looked into having it managed and it's actually not that badly priced I can also take an insurance out to cover non payers and legal fees.
It's a tough call on what's the best option to go for, I've a month to stew on it🤯


12:17 PM, 8th April 2023, About A year ago

Reply to the comment left by Derek STOBBS at 08/04/2023 - 11:05
Thanks for the reply,
That's a very nice pot of investment, I suppose currently there are harder ways of earning money, but I think the future of letting will get harder and less lucrative especially if labour get in.


21:33 PM, 8th April 2023, About A year ago

I’m in a similar position to you on deciding whether to hold or sell, but currently doing a complete refurb after the last tenant who made the property un rentable. I’m not far from you too if you’d like to bounce the pros & cons & alternatives around. Might help us both to get some clarity!


11:52 AM, 9th April 2023, About A year ago

Reply to the comment left by Ronnie at 08/04/2023 - 21:33
Excellent yes that's a great idea. Speak soon👍

Rob Crawford

19:49 PM, 9th April 2023, About A year ago

"Extremely large garden" !! Just wondering, is this a development opportunity to build an additional house or sell the land with planning permission to build another property? Worth looking into if you want to get the maximum return!


22:04 PM, 9th April 2023, About A year ago

Reply to the comment left by Rob Crawford at 09/04/2023 - 19:49
I've had a architect up 2 years ago who said it's possible to get planning permission for a small house (3 bed detached) but it would reduce the value of the original house.

Freda Blogs

16:42 PM, 10th April 2023, About A year ago

From experience, the extra value you'd obtain from getting planning consent and selling a plot as well as the house, would be greater than the diminution in value of the original house with a smaller garden, so most likely you'd be better off overall.

This is why I suggested earlier in this thread that you clarify your options before making a decision, and in this case, you'd be well advised to obtain professional advice. Whilst an architect can help, in the first insurance a valuer (Chartered Surveyor) and planning consultant could help you with this.


16:55 PM, 10th April 2023, About A year ago

Reply to the comment left by Freda Blogs at 10/04/2023 - 16:42
👍 yeah I think I need to revisit to his idea. Thanks 👍

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