It is very easy to assume that you can earn money by renting houses to individuals or families, but the reality is totally different.

The landlord is the one who has to take full responsibility for the ups and downs that accompany the purchase and rental of houses. If you buy a house for say £ 120,000.00 you had bought for say £ 90,000.00 and you had negative cash flow with all the property repairs and agent fees on top and you had loans on the property, he would be in negative cash flow. .

And on the other hand, if your cash flow is positive and you don’t have to pay any debt on the property and you don’t have a mortgage. With the previous example in positive you can have as many houses as possible.

This is what you need when looking for rental homes, you should be on the bright side from the first month you own your home. They say that the value falls every ten years in the future and if you are still making a profit you are doing very well as you have little cash to play with and when you sell your property you are laughing all the way to the bank while making a profit.

Going back to the main theme of Tenants from Hell. First of all, you need to check all the above records and get references from their original owners and match everything and then decide whether to accept them or leave them alone and move on to the next one. It’s a numbers game. Sometimes you have to take it as it comes. But if you keep all your check-ups in order you will avoid all the subsequent hassles because tenants from hell could leave your house habitable and then you will have to spend thousands of pounds and dollars on repairs.

Some of these tenants are so mean and miserable that they just don’t care what they do to the property. The city council cannot evict them because they are old or frail, but when the landlord tries to evict them they threaten him with the legalities of the law.

This is from personal experience when one of my tenants destroyed the house. The agent could not do anything and the city council could not evict her because she had a family. In the end, I reached out personally and threatened her that she would leave or there would be serious consequences. Eventually it went away but I had to take a repair invoice for £ 25000.00 more.