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My wife owns a small rental property which she lived in before moving in with me 13 years ago. It's done okay over the years but has been quite a hassle, not least because of an upstairs neighbour who constantly complains about each and every tenant we've had. The neighbour is at it again now and has sent my wife a lengthy email threatening legal action over matters like the tenant not mowing the lawn and visitors parking outside the property. I know it gets my wife down and personally I don't think it's worth it. I think that when the current tenant leaves she should sell up.
The property is worth around 200k and is paid for outright. It generates £975 a month in rent. She's just had a good year rent wise with very little expenses but it hasn't always been like that. She just doesn't do investing and I'd need a very strong argument about what she could do with the money if she sells. I don't want her to stick it in a savings account which I know she would be inclined to do.
What suggestions could I make to persuade her to give the rental up?
The property is worth around 200k and is paid for outright. It generates £975 a month in rent. She's just had a good year rent wise with very little expenses but it hasn't always been like that. She just doesn't do investing and I'd need a very strong argument about what she could do with the money if she sells. I don't want her to stick it in a savings account which I know she would be inclined to do.
What suggestions could I make to persuade her to give the rental up?
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