debs66

After much thought and deliberation my partner and myself have decided to possibly look at renting out our UK property for the initial 1 to 2 years when we move out to Oz. Our next door neighbour and a few houses on the road have been up for sale for the last 12 months.

As anybody else rented out their properties and have they found they had wished they had sold up when they came out instead of renting it out and are there any taxes to pay if you have a property left in the UK?

Any answers to my questions would be very much appreciated.

Kind regards

Debbie

collybabe24

Hiya we had no choice but to rent our property out as the house sale fell through a week before we were due to fly out, in one way i wish we had sold so we had some money, but on the other hand if we had the money it probably would have been spent by now, at least this way we have struggled we came with £6000 and that had to buy furniture etc unfortunately we had to get our car on finance and just put a small deposit down but i know eventually when the house sells we can pay it off, our mortgage is being covered which is the main thing, not sure about taxes etc as i just contacted customs and excise and filled a form out about not paying tax so really cant help u on that one. But right now its not the time to buy over here the interest rates are so high and house prices are rising fast even with our money we coulldnt buy a house outright now.

stevensfamily

Hi,

Our house has been let out for the past 10 + years. Hubby was in British Forces so we were abroad a lot. Renting out is OK as there is generally a lot of demand at the moment( area dependant). We have a que of people to rent ours out and get enquireies every day. After our experiences over the past 10 years renting is a good option but for us will be a last resort in this case. The reason, well we have just spent a fortune (£12,000) on it after the last tenant wrecked it, agents visit apparently but could not see the trashed kitchen ruined carpets and crayon all over the walls and damaged tles falling off cracked bathroom etc. could not even open the front door as they had wrecked it. Nice tenants respectible we thought, he was a tradesman, chippy had own business and he wrecked our kitchen and door. Sorry a little raw still.

Anyway our house has done us proud but we want a clean break without the stress. We have never found an agent who looks after the property , in fact the only time (6 years of self letting which worked well) that we had no trouble was when we did it ourselves. Regular payments and good tenants who understood it was our home and we were not rake it in Landlords (a common feeling with tenants is buy to let money makers so bad attitude).

Look if you can seperate it being your home, realise that things never get treated like your own so not necessarily cared for and just take the money then its great. Please cover yourself finacially for inevitable carpet replacement and re paint at the end of a tenancy in order to sell. Do not think you can sell with a tenant in it after all its there home so they will not be positive.

I do not mean to frighten you but we are very experienced. We will let if ours is not sold in next 6 months and if we get into finacial crisis, but to be honest we would rather drop the price and be free (OK not stupidly but within reason). Empty property insurance is difficult and we are renewing and covering this at the moment.

Good luck with what you decide but please if you rent get monthly written inspection reports from your agent make them earn their fee. Hold them liable for damage not reported in your inspection reports. Poor tenants need to be reported to you immediately.

Good luck again, will stop lecturing now.



Cheryl

livinginwa

indeed been renting mine for a while now.

no problems, i rent in aus, by the way, and can live in a house of comfort for the rent and not in the scared british mentality of not owning my own.

yes aussie houses are overpriced.....way overpriced, interst rates too much and wages not as high as they should be.