Anyone kept a house in UK to rent out?
#16
Forum Regular
Joined: Oct 2011
Location: Whitby, ON
Posts: 225
Re: Anyone kept a house in UK to rent out?
I'm in the position where I'm currently renting my house to my Sister and her fiancé. Now I have mixed feelings with what to do with the property.
They were living with me before my move to Canada and so it made sense for them to just stay in the property. It simplified things at the time. Now even though it's family it's constantly on my mind that I may need to send money back for something and this is a head ache which I don't want.
I like the fact that I have a property to go back to during vacation but this wont be the case if I rent it out once they moved out.
I'm also in the position where the equity is not where I would like and will likely have a hard time selling.
If you can sell before moving then I would. To me I feel it's going to prove a big pain in the butt.
They were living with me before my move to Canada and so it made sense for them to just stay in the property. It simplified things at the time. Now even though it's family it's constantly on my mind that I may need to send money back for something and this is a head ache which I don't want.
I like the fact that I have a property to go back to during vacation but this wont be the case if I rent it out once they moved out.
I'm also in the position where the equity is not where I would like and will likely have a hard time selling.
If you can sell before moving then I would. To me I feel it's going to prove a big pain in the butt.
#17
Re: Anyone kept a house in UK to rent out?
@ London-England-Lads
We finally completed our house sale today after a bloody long and drawn out process. The buyer's solicitor was rubbish, over 12 weeks for an empty property and no chain. Has not sunk in yet.
We finally completed our house sale today after a bloody long and drawn out process. The buyer's solicitor was rubbish, over 12 weeks for an empty property and no chain. Has not sunk in yet.
#18
Re: Anyone kept a house in UK to rent out?
That sounds a painfully long wait and a lot of hassle, glad for you that its finally sold
#19
Forum Regular
Joined: Aug 2010
Posts: 154
Re: Anyone kept a house in UK to rent out?
I kept mine as a long term investment as where else could you make so much money in the long term with such little invesment
#20
Forum Regular
Joined: Feb 2008
Posts: 74
Re: Anyone kept a house in UK to rent out?
I currently rent out my UK house under this scheme:
http://www.northwooduk.com/guarantee...nt-information
You get less rent per month than the full commercial rate, but it's great if you want peace of mind and no hassle.
http://www.northwooduk.com/guarantee...nt-information
You get less rent per month than the full commercial rate, but it's great if you want peace of mind and no hassle.