What would you do ? Rent or leave empty

elsien

Woolco wrote: »

Hi. Stop replying to this person please. Do you want scum in your street? This person is making this happen.

Don't be ridiculous. And stop making sweeping statements saying that tenants are scum - it's just nonsense.

OP - have you checked your house insurance covers you for leaving the house unoccupied for any length of time. A lot of standard policies tend to talk about 60 days.

EachPenny

restless6 wrote: »

This will sound really thick but what is the difference between letting and sub letting then ? I thought I would just be letting my house out .

Some people have ignored the bit where you said you were paying a mortgage and also made unfair assumptions about you.

As you own your property you would be letting it. (if you were renting then let someone else live there it would be a sub-let).

Becoming a landlord involves taking on a lot of responsibilities, before going ahead you really need to know exactly what you are doing. Don't be put off by people's spiteful comments, but do think very carefully whether you want to take on the responsibilities of being a landlord.

00ec25

restless6 wrote: »

This will sound really thick but what is the difference between letting and sub letting then ? I thought I would just be letting my house out .

you own a property which you will be letting directly to a tenant, sub letting would be where your tenant then moves out of the property and sub lets to a (sub)tenant who pays rent to them, not to you.
you = landlord
below you is your tenant
below (ie "sub") them is their tenant

You as LL have no relationship with, or authority over, the sub tenant whatsoever. Hence most sensible LL include prohibitions on sub letting in their tenancy contracts.

As for your actual question, we are not you and cannot answer it.
Obviously the attraction of remaining invested in a "nice" area appears to have a clear financial value if you do indeed return

keeping a foot on the property ladder, whether you return to that house or not in the future, is a stance in life that many (but not poster by the name of crashy time) consider a valid hedge / investment in these "uncertain" times

but the central fact remains, as others have already pointed out: being a LL carries many risks and responsibilities, either you want to be one and learn what it takes to be successful, or you don't. If you don't then don't play at it, the term "accidental LL" has been coined for precisely the latter circumstance, one where the £ signs in the eyes replace the sense in the brain.

start with the sticky at the top of the board and if you make it through every word and every link in it, you may then be better able to decide if landlording is for you https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants

agrinnall

Woolco wrote: »

Hi. Stop replying to this person please. Do you want scum in your street? This person is making this happen.

You sound like the sort of person that I would not want to be living in my street, or anywhere near me.

1974Marie

Who painted the common entrance to mines? Who cuts the grass? Picks up the litter? Cleans the close with Jeyes Fluid? Changes the light bulbs every time they go out? ME!!!!! And never asks the neighbours for a brown penny. ME!!!!!

shinytop

If you don't then don't play at it, the term "accidental LL" has been coined for precisely the latter circumstance,

I was one of these and regretted it. Fortunately I'm out of it now and it's a huge relief. If you do rent it out, be very, very careful who you rent it to and do everything by the book. I wasn't/didn't and it was not pleasant. Just have a good long think about whether you really want to be a LL before you do.

restless6

There’s a lot for me to consider .
Financially I expect to take a hit with more council tax if the house is empty .
Are there any other penalties on empty homes?

p00hsticks

restless6 wrote: »

Are there any other penalties on empty homes?

You'll pay a premium on house insurance and probably have to arrange to have it visited reasonably frequently to satisfy the terms of the insurer.

cloo

Is it in an area where short lets might be of any interest, eg to use airbnb or something? Not that that is necessarily easy (though there are services you could use to manage it for you), but it's shorter term. People might be delighted to be able to rent a place for a month or two if they are doing building works at home, for example. If you have a local area FB page, you might try fishing by offering 'Home available for short let' and see what sort of interest you get. Obviously if you do this, you need to tell lenders (they and insurance should be informed if/when it's empty) and take advice to ensure all is legal and above board.

restless6

cloo wrote: »

Is it in an area where short lets might be of any interest, eg to use airbnb or something? Not that that is necessarily easy (though there are services you could use to manage it for you), but it's shorter term. People might be delighted to be able to rent a place for a month or two if they are doing building works at home, for example. If you have a local area FB page, you might try fishing by offering 'Home available for short let' and see what sort of interest you get. Obviously if you do this, you need to tell lenders (they and insurance should be informed if/when it's empty) and take advice to ensure all is legal and above board.

That’s an interesting idea - problem is I have emptied the house out and I would have to refurnish it all ! Maybe - it’s an option