Renting my Home whilst travelling abroad

maryla1986

Hi all

I am looking to rent out my home for approx. 6 months whilst I travel abroad, and hoping you can give me some tips on what I need to do as I don't know where to start.

• Do I tell my insurance company?
• Do I tell my mortgage company?
• What do I do about bills?
• Include in rental price, but then I am worried I am liable for them racking up the bills.
• Or do I transfer them over to the renters?
• Or tell my utility companies that I won’t be responsible whilst I’m away and it’s up to the company/renters to sort this out between them
• Should I cancel/transfer my broadband/ TV package?
• Should I still pay my council tax?
• Do I add the renters to my council tax?
• I currently get self-occupancy discount

Any other tips are very welcome

P.S. I'm not looking for advice on travelling

SameOldRoundabout

More knowledgeable people will be along soon to tell you it is a very bad idea. Being a landlord is a job and a responsibility. Getting tenants out will take YEARS right now, what will you do if they refuse to leave once your return? Very very few people want to rent somewhere for only 6 months, people normally want a home. 

csgohan4

I wouldn't. Tenancy law is very much on the side of tenants. You will not get tenants out at month 6 realistically. Evicting them will be costly and take about 2 years now due to the back log in courts. 

You also need to be aware of the legal and tax implications of renting of which you have not mentioned you have researched this area, which are more important than deciding on utilities

Most people renting want security and to only be able to rent 6 months your pool of renters will be limited as well as professional tenants who take advantage of their tenant rights. 

Read the sticky to give you a general idea:
https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants/p1

But a Landlords association would be a starting point, and if your still keen on renting, good luck to you. 

Martin_the_Unjust

To to be honest the best option would be to find a trusted friend or relative to house sit for you.

Cakeguts

Only do this if you can manage if you come back from your travels to find that the tenants don't want to move out after 6 months and as they don't have to you will have to wait for a court date which can take several months, close to a year.  Also if you don't mind coming back to a property that has been damaged while you have been away.

PRAISETHESUN

I wouldn’t rent out your home, particularly on such a short timescale. What would you do if you returned and the tenants have refused to leave at the end of their tenancy? As above it can take years at the best of time to force an eviction through the courts, meanwhile you’re potentially not getting paid rent and run the risk of your home being trashed. High risk, low reward IMO. In any case beign a landlord is a big responsibility, so make sure to do your research or employ an agent on your behalf.

To answer your questions:

1) Yes – you will need landlord insurance
2) Yes – you will need consent to let
3) That’s up to you – you can make the tenants pay for their bills, or keep them in your name and pass along the costs through higher rent. Probably safer to make the tenants responsible for them as then in the case they aren’t paid, it’s on their head instead of yours
4) Tenants are liable for council tax for the time they rent there. The bill will be in their names only. The owner only pays if no-one else lives there.

MaryNB

maryla1986 said:

Hi all

I am looking to rent out my home for approx. 6 months whilst I travel abroad, and hoping you can give me some tips on what I need to do as I don't know where to start.

• Do I tell my insurance company? Yes.
• Do I tell my mortgage company? Yes. You can only rent with a consent to let (given at your lender's discretion). Or a BTL but you'll obviously have to reapply for a residential mortgage when you come back - consent to let is the far better choice.
• What do I do about bills?
• Include in rental price, but then I am worried I am liable for them racking up the bills.  Easiest option: put in the tenancy that the tenants are liable for utility bills and responsible for paying suppliers directly. Give the suppliers the meter readings and close your account the day you move out and again the day you move back in when you open a new account. Anything in between is not your problem. You can keep the accounts in your name but you then have to get the tenants to pay you back. Or you can include it in the rent but then they just use as much as they like because they're not paying for changes to usage (not a good option).
• Or do I transfer them over to the renters? Yes, you don't have to but it's much easier that way. They pay what they use and you don't have to act as a go between.
• Or tell my utility companies that I won’t be responsible whilst I’m away and it’s up to the company/renters to sort this out between them. See above. You need to close your account when you move out and open it again when you move back in.
• Should I cancel/transfer my broadband/ TV package? This one might be easier to leave under you name if on a 24 month contract. The price wont change if and you may have to pay an exit fee. Usage doesnt come into it as much as gas/elec/water.
• Should I still pay my council tax? No. Take your name off it. Tenants are liable, they open an account with the council themselves. (Unless it's a HMO and they are on separate contracts, then you have to manage it and include the cost in the rent). 
• Do I add the renters to my council tax? You are not liable when you are not living there. (Unless  it's a HMO and they are on separate contracts. If so, you still have remove your name and open an account in their name.) ETA: You are not liable while the tenants are living there, you will be liable again if the tenancy ends, even if you don't move back in right away.
• I currently get self-occupancy discount. Irrelevant once you move out.

Any other tips are very welcome By your questions above, I'm not sure where to even start...except see the sticky thread at the top of this forum (Guide for Landlords and Tenants). Just be warned a 6 months tenancy is just in the initial term. They are still tenants when it ends and can remain at the property unless they give notice to leave. You have to give notice for them to leave and they cannot be forced to leave until after you go to court (once the relevant notice has expired) and get an court order. You cannot end the tenancy, only the tenants or a court can.

If you don't do everything by the book (EPC, GSC etc.) you'll find it extremely hard to get your property back if they don't want to move. Paying a letting agency will only help a little. You will remain legally liable for doing your due dilligence as a landlord.

P.S. I'm not looking for advice on travelling

See in bold.

tripled

maryla1986 said:

Hi all

I am looking to rent out my home for approx. 6 months whilst I travel abroad, and hoping you can give me some tips on what I need to do as I don't know where to start.

• Do I tell my insurance company? Yes, and your current insurance may not be valid for lets, you might need to find alternative insurance.
• Do I tell my mortgage company? Yes, you need a consent to let, which they may or may not grant, or to transfer to a buy-to-let mortgage.
• What do I do about bills?
• Include in rental price, but then I am worried I am liable for them racking up the bills.
• Or do I transfer them over to the renters?
• Or tell my utility companies that I won’t be responsible whilst I’m away and it’s up to the company/renters to sort this out between them Your choice whether or not to include bills in the rent. If you do, they will remain in your name. If not, you close your account with the utilities on the day the tenancy agreement starts, and provide meter readings. I would also recommend supplying the tenants' names, although there is no requirement to do so.
• Should I cancel/transfer my broadband/ TV package? As above.
• Should I still pay my council tax? 
• Do I add the renters to my council tax? For a normal shorthold tenancy, it is the tenants' responsibility, although you could pay it for them if you chose, for example you let the property bills included.
• I currently get self-occupancy discount

Any other tips are very welcome

You could get lucky, or you could get difficult tenants. As sameoldroundabout has said, letting is heavily regulated and it may take time and money to evict them at the end of the term, even if they trashed the property or didn't pay rent. You could yourself be sued by the tenants for mistakes handling the tenancy (such as protecting the deposit). Letting your home out for a short period would be a lot of work for what is very much a gamble. You could look into house sitting instead (which usually comes with a licence to occupy instead of a tenancy), or indeed just AirB'n'B if you can find someone to manage it for you, but they are still not exactly risk free.

P.S. I'm not looking for advice on travelling

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