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Renting out property and travel abroad

Broke_with_hope
Broke_with_hope Posts: 7 Forumite
in House buying, renting & selling
I’m thinking of buying a house in the next few months, but I also want to live abroad in about 2 years time. I was thinking of renting out my house to cover my mortgage while I am away. Does anyone know how easy/hard this would be to do? I would have close family by to look after the property so wouldn’t need an agent. Would I have to pay tax? Are there any other hidden costs to expect?

Thanks

Comments

  • princessamy86
    princessamy86 Posts: 4,889 Forumite
    Not sure how easy/hard it would be, it depends what kind of tenants you get in there. It's good that you have family to keep an eye but don't forget that any problems the tenants have will have to be dealt with in the proper manner and as quickly as possible, so it can be a lot for someone to take on. Yes you have to pay tax, there is a special form for overseas landlords, check the inland revenue site as there's loads of guidance on there.
    Scar tissue that I wish you saw, sarcastic mister know it all, close your eyes and I'll kiss you cause with the birds I'll share this lonely view.
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