Apparently, an increasing number of estate agents are reporting that landlords have become so frustrated with declining property prices and increasing rent arrears, that many have decided to cut their losses and sell-up!
They are not prepared to wait for the market recovery as they don’t feel it will be coming anytime soon, and they are finding it difficult to cope in the current market conditions.
So, are landlords right to bailout now, especially when the market has already fallen by over 15%?
Well in my view the right time to bailout is when you feel that the stress and worry associated with managing the portfolio going forward is too much.
That is the time to ‘call it quits’ as there is nothing more important than good health. If you have good health then you will have time to fight another day.
Yes, you will get people, or so-called ‘property experts’, saying that we are through the worst of it and that things will only get better.
But let’s face it, nobody knows when or how quickly the property market will recover. Everybody has an opinion, and your opinion is just as valid as everybody else’s. You are just as much of an expert as anybody else, as nobody knows your circumstances better than you.
So, my view is always do what is right for you!
