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Property law

Hi, I am to inherit my late dad's house. Probabte is going to be applied for soon. I thought I would let the house while the estate is settled. I won't see this money I know but any income the estate makes will be subject to 20% income tax. However my probate solicitor told me to get advise from a property law expert to see if there are any legal pitfalls in renting before the estate is settled . What should I be aware of?
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Comments

  • born_again
    born_again Posts: 13,590
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    Do you plan to live in the house?

    If you do then biggest pitfall could be getting tenants to move.

    I would suggest you have a look at what as a landlord you would be responsible for.
    Life in the slow lane
  • penners324
    penners324 Posts: 2,588
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    What happens if the tenant won't move out when you want them to? Or stops paying rent or trashes the place?

    I'd strongly recommend against it
  • Millsandovis
    Millsandovis Posts: 40
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    Sounds like a lot of added aggravation at a time when you probably don’t need it 
  • Hutch78
    Hutch78 Posts: 2
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    I don't plan to ever live in the house. I live 200 miles away and only thought it a good idea as someone would be in the house looking after it. I'm just worried with it being left empty for what could be a year. 
    I definitely don't want to make my life harder but living so far away makes it hard to tend to the garden and check everything is in order.
  • Hutch78 said:
    I don't plan to ever live in the house. I live 200 miles away and only thought it a good idea as someone would be in the house looking after it. I'm just worried with it being left empty for what could be a year. 
    I definitely don't want to make my life harder but living so far away makes it hard to tend to the garden and check everything is in order.
    The issue you need to weigh up is, they might not look after it.  They could be "problem tenants" or you might have a never-ending stream of repair issues.
  • lincroft1710
    lincroft1710 Posts: 17,452
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    As soon as you have probate just get the house sold. Price it to sell then it won't be left empty for long.


    Forget any idea of renting it out. Being a landlord is hard work, being a distant landlord is harder. 
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
  • propertyrental
    propertyrental Posts: 2,186
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    edited 1 February at 6:42PM
    You don't say, but we are assuming you are the (joint?) Executer? If not, then this is not your decision.

    What are the long term plans for the property? Pass to a Beneficiary? If so, for them to live in? To let out? To use as a 2nd home?
    Or is the plan to sell and distribute the proceeds?
    If selling, then setting up a tenancy and taking on all the legal and practical obligations, not to mention the risks, and the difficulty down the line of either selling with tenants or evicting them first, mean this is not worth doing.
    If keeping, only let the property if the ultimate Beneficiary also intends to let the property (and involve them in the decision, tenant selection, tenancy set-up even though legally it is still the Estate [Executer] who is the initial landlord.
    Unless the Estate/will is complex/huge Probate should not take a year.

    Put empty home insurance in place, apply for Council Tax rebate (I think it's zero CT following death of sole owner pending Probate, but check), and find or pay someone local to go in periodically.
  • BobT36
    BobT36 Posts: 511
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    Hutch78 said:
    I don't plan to ever live in the house. I live 200 miles away and only thought it a good idea as someone would be in the house looking after it. I'm just worried with it being left empty for what could be a year. 
    I definitely don't want to make my life harder but living so far away makes it hard to tend to the garden and check everything is in order.
    Sounds like you want people to pay to do maintenance for you, rather than the other way around! 
  • FreeBear
    FreeBear Posts: 14,251
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    As soon as you have probate just get the house sold. Price it to sell then it won't be left empty for long.


    Forget any idea of renting it out. Being a landlord is hard work, being a distant landlord is harder. 
    Being a live-in landlord can be taxing as well.

    Her courage will change the world.

    Treasure the moments that you have. Savour them for as long as you can for they will never come back again.
  • artyboy
    artyboy Posts: 804
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    As soon as you have probate just get the house sold. Price it to sell then it won't be left empty for long.


    Forget any idea of renting it out. Being a landlord is hard work, being a distant landlord is harder. 
    Or to put it another way...

    Sell Forrest, Sell!
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