Renting to Friends Whilst Abroad for 15 Months

G_M

You have a choice:


Employ a (reliable!) agent to manage your property or DIY.


If you DIY, do not skimp. Learn everything you need to learn and comply with every regulation you need comply with.




** Tenancies in Eng/Wales: Guides for landlords and tenants This thread is intended to provide information to both landlords and tenants relating to Assured Shorthold Tenancies (ASTs) in England and Wales.

Topics covered:

* Repairing Obligations: the law, common misconceptions, reporting/enforcing, retaliatory eviction & the new tenant protection (2015)

* Deposits: payment, protection and return

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

* Rent increases: when & how can rent be increased?

* Repossession: what if a LL's mortgage lender repossesses the property?

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

Hillwalker11

You really need a managing agent.My son who lives in Hong Kong has a buy to let in England.Even with us ,his parents being the first port of call in England he could not do it professionally without an agent. When there have been issues the managing agent has a list of contractors for various things.
It will cost you 10% or thereabouts for the agent but it is money well spent and peace of mind in your position.
You cannot be a good landlord, managing it yourself when you are thousands of miles away.
It just isn't feasible.

brianposter

I would be inclined to ensure that the occupants of your house are licensees and not tenants.

Sea_Shell

Have you considered what you'd (have to) do if your tenants refuse to leave at the end of the contract?

sheramber

https://www.gov.uk/tax-uk-income-live-abroad/rent

zagubov

Having property in the UK while you're away for prolonged periods is a challenging situation. Unless you make special arrangement, you may need tenants to pay your tax for you which they may see as quite a bureaucratic burden, so having an agent involved may be good for keeping tenants happy.

Your insurer may need to know and if you simply leave the property empty, according to other threads on here they may cancel your insurance if they find out you're not currently resident with endless negative consequences on all insurance-related activities such as living, paying mortgages, driving, etc..

Your mortgage provider would have to be happy, but that might be relatively straightforward. Do find out.

Providing a few plants (provides oxygen and probably reduces carbon footprint) and maybe a fish-tank (allegedly lowers blood pressure) may help motivate you to engage a house-sitter. Before you start wondering whether a house-sitter could bring in income by taking in lodgers under their taxable limit, I just don't know.

Maybe it would be ideal if a house-swap could be arranged but that's probably a real long shot given the circumstances.

As regards house selling and buying, it's so complicated, stressful and long here I'd never recommend it to anyone for dealing with a 15 month problem.

00ec25

brianposter wrote: »

I would be inclined to ensure that the occupants of your house are licensees and not tenants.

LOL

do you even know what a licensee is ?
Please provide comprehensive links showing what you mean and the test cases showing how a non resident landlord can fulfil your statement

foxy-stoat

lucyelspeth wrote: »

but we aren't looking to make a profit either, just trying to cover the mortgage and costs. .

You may not get a consent to let from the lender.

Comms69

Simple answer is - if not rent is due, no tenancy exists.

brianposter

00ec25 wrote: »

LOL

do you even know what a licensee is ?
Please provide comprehensive links showing what you mean and the test cases showing how a non resident landlord can fulfil your statement

Difficult to find much which is why I have left it to the OP to research.

In principle it requires that the occupant does not have exclusive use of any part of the premises and does not pay rent, but can pay expenses.
The OP has already pointed out that the house will remain their home whilst they are abroad.