Perhaps all would-be landlords should be passed this cautionary tale by their agents.
“Do you really know what you get when you buy to let? That’s what I asked myself having discovered my tenant had fraudulently sublet my house.
“Of course, that was just the start of the tale of woe. The rest involves a trashed house, a scammed innocent wanting her deposit and rent back, an attic full of cannabis plants, a legal eviction bill to pay and several thousands of pounds of rent arrears.
“And I am an experienced property investor. Woe betide this fate fall on those less equipped to deal with the less glamorous side of property investment.
“But this is the business we’re in: people.
“Property investors tend to forget this inconvenient truth.
“Buy-to-let doesn’t just make you money – it also takes your money. I know that’s an unpopular truth that many investors like to sweep under the newly fitted laminate. But it’s a fact. Buy-to-let costs money if you’re going to get any sort of let from your buy.”
These are excerpts from a terrific blog by Samantha Collett:
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