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Has anyone experience of leaving their home on rent...
IAMIAM
Posts: 1,432 Forumite
Traveling and renting in other cities etc maybe up to 2 years and then decided on a place to live, selling the rental and buying again. Or is this a waste of money?
Effectively a first time buyer again, knowing the deposit is coming from the property sale (circa 80-100k)
Effectively a first time buyer again, knowing the deposit is coming from the property sale (circa 80-100k)
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Dozens of posts on this subject. Just search this forum and you will find.Signature on holiday for two weeks1
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Selling and buying will incur lots of costs.
Being a good landlord and travelling is difficult - how will you cope if your tenants if your tenants need a new boiler while you are away, or have any one of the myriad of emergencies that can befall a tenant? If you expect to be able to appoint a letting agent to do everything, you won't have any money left to pay the mortgage.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0 -
Simply getting vacant possession of the rental property could take many months (especially at the moment), never mind then marketing, finding a buyer and completing the sale. Much more flexible to have the money in the bank.
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This ^^^^^^^0
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Understood, what if you have insurance to cover non payment of rent for 12 months0
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The insurerers who offer these policies have changed the terms dramatically this year due to the new Covid eviction rules. They were facing far too many claims from tenants on furlough/redundancy who could not pay the rent, but who also could not be evicted.
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