Renting out my bungalow for a year

youth_leader

Thank you @Murphybear.  My daughter and her boyfriend in NI have just bought their first house in Belfast .... but also want to go to Canada for a year.  She had already asked me if I would look after their cat, and had planned on bringing her here.  

If I could work hard, and get this place ready to let to visitors, I thought I could go over and stay in her new house and look after her cat there.  

I will definitely not leave any ornaments!

youth_leader

I've just messaged my daughter ... their plan is that they rent out their house for a little bit more than their mortgage. 

My plan is over before it began, my income will be too uncertain.  I'm a ten minute walk from the village, there are properties down there that will probably be booked first.

Murphybear

youth_leader said:

Thank you @Murphybear.  My daughter and her boyfriend in NI have just bought their first house in Belfast .... but also want to go to Canada for a year.  She had already asked me if I would look after their cat, and had planned on bringing her here.  

If I could work hard, and get this place ready to let to visitors, I thought I could go over and stay in her new house and look after her cat there.  

I will definitely not leave any ornaments!

I’ve not been to NI but we’ve been to Ireland many times, my husband is a quarter Irish.  I love Ireland, it’s beautiful and the people are friendly.  Last time we went there we had an hour to wait in Cork before we could board the ferry.  We found a little pub and had a big pot of tea and a plate of biscuits.  (We don’t drink alcohol before crossing the Irish sea).  The landlord was lovely, typical Irish charm.  We were chatting away and when we went to pay he said “no charge” and gave me a kiss on the cheek 

When I was working in London I had an Irish friend. She and her husband went back there quite a lot and they always took their cat with them.  She seemed to enjoy the journey.  If your cat in law is a bit nervous about travelling, most vets will give him/her a sedative.  

GDB2222

youth_leader said:

Thank you very much for your help and encouragement. 

I think I am too nervous to be a landlord, and will go the holiday let route instead.

The holiday accommodation business in the village has a website and offers a 'Letting Guide', I've requested one.  I know the people that own this business, they helped me by taking my life size bronze lions before I completed on the station.  I can see 'the boys'  in their garden when I walk along the river, their house is at the end of my old road, raised high above the river.

I wish I had listened to my friend and painted the place in neutral colours now, unfortunately my decorator is just about to retire.  

I won't let myself get overwhelmed, I will make a list of what I need to do to get the place up to standard for letting to holiday makers.  My personal stuff will have to go into storage.   

I think it will be popular here.  I do have a small safe garden (complete mess at the moment) and would be happy to accept dogs.

I’m not sure that you need to get the place redecorated. Some people prefer quirky. Besides that, if it’s just for a week’s holiday by the sea, the accommodation is more important than the decor. 

You probably do need to plan for a redecoration when you return. You also need to expect that any furniture will either be trashed or at least in need of serious cleaning. Whatever furniture you can leave in the house is furniture that you don’t have to pay to store for a year. I have never put stuff in storage for that long, but it is not going to improve, is it? 

The holiday letting agent is looking at this differently than you. They want something that is easy to let, but you want it to work out financially, so you don’t want to plough too much money into it up front if it’s only going to be let for a year. 

ThisIsWeird

youth_leader said:

I've just messaged my daughter ... their plan is that they rent out their house for a little bit more than their mortgage. 

My plan is over before it began, my income will be too uncertain.  I'm a ten minute walk from the village, there are properties down there that will probably be booked first.

You won't know until you ask.
And, as GDB says, many (most?) folk don't want bland beige, but a decorating scheme that actually reflects the property.
We've used a few AirB&Bs over the past few years taking/collecting kids to Uni, and whilst price & location were obviously prime considerations, décor was next - and that mainly involved avoiding the 'grey wood laminate floors and off-white walls' standard. The nicest were really quirky, with dark green walls and panelling - really cosy.
Anyhoo, having the company in your village is great. They'll hopefully organise everything - cleaning, bed changing, emergency phone calls... Although you'll have many times more folk passing through your house, they each pay a lot more than longer-term rental, and you'll have no hassle getting your house back when you need. It should work. 
But you won't know until you ask!
Good luck.

GDB2222

youth_leader said:

I've just messaged my daughter ... their plan is that they rent out their house for a little bit more than their mortgage. 

My plan is over before it began, my income will be too uncertain.  I'm a ten minute walk from the village, there are properties down there that will probably be booked first.

When I looked into letting out a holiday home, I found that pretty much anything can be let at the right price! Some people may prefer to be outside the village ina quiet location. Having some outside space with a couple of chairs and a barbecue may be an attraction that outweighs other considerations.  I’m not sure what the neighbours will think, though. 

Realistically, a holiday let by the seaside In Britain should be easy to let for ‘the season', which means 10 weeks or so, plus a week or two at Christmas, and maybe a few other weeks at a lower price. I would not expect that there’s much money in it, I’m afraid.  On the other hand, it should bring in enough to cover the expenses of keeping the house running while you are away. 

Grumpy_chap

youth_leader said:

I'm a ten minute walk from the village, there are properties down there that will probably be booked first.

There are a lot of people that would prefer a holiday let a short stroll from the centre - close enough to have good access to all the facilities but far enough away not to be noisy.

EssexHebridean

All the times we’ve stayed in self catering cottages in the Hebrides we have never once gone for somewhere right in a township or village - the location is far more important although it has to be said, being a 10 mile round trip from the nearest shop does focus your mind on not running out of milk! 😆

theartfullodger

They know that on a tenancy when the 12 ,months ends the tenancy continues (forever unless court or tenant end it)?  And landlord notice does not end tenancy nor compel tenant to leave?

Renting it "for a bit more than mortgage" is very interesting but HMRC can and may tax for market rent, not artificially lower .

Have they done any training as landlords or in landlord/tenant law?

Do they have the emotional and financial reserves to cope with the tenant from hell?  Or agent from hell?

Good luck - may need it!

Bookworm105

youth_leader said:

Does anyone have a recommendation for a good source of information where I could learn about renting/how to be a 'landlord' please?  

read the pinned post at the top of the board