Moving into renting short term

Albermarle

Sapindus said:

ognum said:

I agree, really hard to get a 6 month rental, cost implications for LL means many have a minimal let of 12 months.   Maybe an air bnb but more pricey 

That's alarming.  My son rented a flat earlier this year and didn't seem to have a problem getting a six month tenancy.  I've just put my house on the market and was going to go into rented because I'm going some distance and don't want to be rushing into buying somewhere just for the sake of not losing a buyer. Is my whole plan fatally flawed??

The chronic shortage of rental properties has been in the news many times in the last couple of years. Many stories of 20 people queuing up outside for a viewing as soon as any property becomes available.
However the situation seems to have calmed down a bit recently, and it is a lot worse/better in some areas than others. So you might be lucky. 

newsgroupmonkey_

DayDreamerandGeneralWaster said:

Third above. But as air bnbs are much less popular now it will be possible to get a deal. 

They are?
I'll remember to have to not ask my parents next time I want to use theirs that is booked all year round.

We're still having to give at least 6 months notice at the moment and their location isn't coastal or particularly interesting.......

Sapindus

Albermarle said:

The chronic shortage of rental properties has been in the news many times in the last couple of years. Many stories of 20 people queuing up outside for a viewing as soon as any property becomes available.
However the situation seems to have calmed down a bit recently, and it is a lot worse/better in some areas than others. So you might be lucky. 

We found it was mixed when my son was looking - some properties being let before he could even get to view them, others being reduced or just sitting there unlet.   I would think high demand for rental could actually make 6 months tenancies more attractive to landlords for the reason others have stated, that they can easily find another tenant.  Granted there's higher costs of letting it all over again.

In the area where I'm looking, most listings on RM seem to say " Min tenancy - ask agent" and I doubt asking an agent now about properties I might manage to find in September will elicit any meaningful answer.  But there were 6 months examples.

Bookworm105

Sapindus said:

ognum said:

I agree, really hard to get a 6 month rental, cost implications for LL means many have a minimal let of 12 months.   Maybe an air bnb but more pricey 

That's alarming.  My son rented a flat earlier this year and didn't seem to have a problem getting a six month tenancy.  I've just put my house on the market and was going to go into rented because I'm going some distance and don't want to be rushing into buying somewhere just for the sake of not losing a buyer. Is my whole plan fatally flawed??

no the plan is not flawed, it simply involves you lying about your status if the prospective landlord asks you to explain your background (if they ask of course).
LL are not normally looking for one term only tenants as it costs them each time to find replacements.

SarahB16

Mark7799 said:

Hi Everyone.

New to this Board as MSE didn't exist last time we moved house!!

We've sold ours (Subject to contract   🤞 ) and have just secured a new build but we are likely to have to rent for about six months. Any suggestions how best to manage things like mail redirection and telling banks? Don't really want to  have to pay for two lots of mail redirection if we can avoid it.

Thanks on advance for any advice. 

May I ask why you chose to go down this route (i.e. temporarily renting) rather than just stay in your house and ideally selling to somebody who was not in a chain and then just moving when your new build home was ready?  

Did you not think there would be many prospective purchasers interested in your home (perhaps you live in a rural location with limited amenities). 

I am not passing judgment on the approach you have taken as I hear of many people selling their home and renting so that they are viewed more favourably (i.e. no chain) to prospective purchasers but as you are buying a new build I'm not sure why you felt the need to sell your home.  Did the housing developer of the new build scheme say they would only allow you so long to sell your home? 

Apologies if this is too personal but I'm genuinely interested when buying a new build property how long the housing developer thinks is reasonable for them to wait in order for you to sell your own home.  

Albermarle

SarahB16 said:

Mark7799 said:

Hi Everyone.

New to this Board as MSE didn't exist last time we moved house!!

We've sold ours (Subject to contract   🤞 ) and have just secured a new build but we are likely to have to rent for about six months. Any suggestions how best to manage things like mail redirection and telling banks? Don't really want to  have to pay for two lots of mail redirection if we can avoid it.

Thanks on advance for any advice. 

May I ask why you chose to go down this route (i.e. temporarily renting) rather than just stay in your house and ideally selling to somebody who was not in a chain and then just moving when your new build home was ready?  

Did you not think there would be many prospective purchasers interested in your home (perhaps you live in a rural location with limited amenities). 

I am not passing judgment on the approach you have taken as I hear of many people selling their home and renting so that they are viewed more favourably (i.e. no chain) to prospective purchasers but as you are buying a new build I'm not sure why you felt the need to sell your home.  Did the housing developer of the new build scheme say they would only allow you so long to sell your home? 

Apologies if this is too personal but I'm genuinely interested when buying a new build property how long the housing developer thinks is reasonable for them to wait in order for you to sell your own home.  

It can work both ways.
A family member sold their home based on a completion date from the developer. This date then started getting later and later causing much stress and a lost buyer.

SarahB16

Albermarle said:

SarahB16 said:

Mark7799 said:

Hi Everyone.

New to this Board as MSE didn't exist last time we moved house!!

We've sold ours (Subject to contract   🤞 ) and have just secured a new build but we are likely to have to rent for about six months. Any suggestions how best to manage things like mail redirection and telling banks? Don't really want to  have to pay for two lots of mail redirection if we can avoid it.

Thanks on advance for any advice. 

May I ask why you chose to go down this route (i.e. temporarily renting) rather than just stay in your house and ideally selling to somebody who was not in a chain and then just moving when your new build home was ready?  

Did you not think there would be many prospective purchasers interested in your home (perhaps you live in a rural location with limited amenities). 

I am not passing judgment on the approach you have taken as I hear of many people selling their home and renting so that they are viewed more favourably (i.e. no chain) to prospective purchasers but as you are buying a new build I'm not sure why you felt the need to sell your home.  Did the housing developer of the new build scheme say they would only allow you so long to sell your home? 

Apologies if this is too personal but I'm genuinely interested when buying a new build property how long the housing developer thinks is reasonable for them to wait in order for you to sell your own home.  

It can work both ways.
A family member sold their home based on a completion date from the developer. This date then started getting later and later causing much stress and a lost buyer.

True.

I think ideally it's best if you are buying a new build to sell your home to somebody who isn't in a chain themselves and also say to whoever is interested in buying your house that there is a good chance there could be delays regarding when the new build is likely to be ready so they are fully aware of the possibility of delays.     

Mark7799

SarahB16 said:

Mark7799 said:

Hi Everyone.

New to this Board as MSE didn't exist last time we moved house!!

We've sold ours (Subject to contract   🤞 ) and have just secured a new build but we are likely to have to rent for about six months. Any suggestions how best to manage things like mail redirection and telling banks? Don't really want to  have to pay for two lots of mail redirection if we can avoid it.

Thanks on advance for any advice. 

May I ask why you chose to go down this route (i.e. temporarily renting) rather than just stay in your house and ideally selling to somebody who was not in a chain and then just moving when your new build home was ready?  

Did you not think there would be many prospective purchasers interested in your home (perhaps you live in a rural location with limited amenities). 

I am not passing judgment on the approach you have taken as I hear of many people selling their home and renting so that they are viewed more favourably (i.e. no chain) to prospective purchasers but as you are buying a new build I'm not sure why you felt the need to sell your home.  Did the housing developer of the new build scheme say they would only allow you so long to sell your home? 

Apologies if this is too personal but I'm genuinely interested when buying a new build property how long the housing developer thinks is reasonable for them to wait in order for you to sell your own home.  

Will PM you