I have a 3 bed house rented to a single tenant. One of the other bedrooms is used as storage and the other is also empty.
Rented for 900 per month and I see the going rent for 3 beds in the area is anything from 1800-2100 (based on current ads on daft).
Tenant is on a fixed term lease which has been renewed (this is the second year the tenant is there in a rental contract).
On one hand the tenant is excellent and causes no issues, rent always paid but on the other hand missing out on 900-1200 a month is material.
Not really sure what to do here. Keep the tenant as is or chance renting it out for full rental value.
I could make a justification on repairs\refurb to make it a 3 bed again (but it may or may not stand up if it was appealed) but I might be happy to take that risk given the rent I am missing out on.
Maybe I am getting greedy and its morally wrong, I would appreciate any views.
Rented for 900 per month and I see the going rent for 3 beds in the area is anything from 1800-2100 (based on current ads on daft).
Tenant is on a fixed term lease which has been renewed (this is the second year the tenant is there in a rental contract).
On one hand the tenant is excellent and causes no issues, rent always paid but on the other hand missing out on 900-1200 a month is material.
Not really sure what to do here. Keep the tenant as is or chance renting it out for full rental value.
I could make a justification on repairs\refurb to make it a 3 bed again (but it may or may not stand up if it was appealed) but I might be happy to take that risk given the rent I am missing out on.
Maybe I am getting greedy and its morally wrong, I would appreciate any views.