Renting our house to sister while we live abroad - complications?
Sep 22nd 2011, 2:40 pm
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Joined: Sep 2011
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Renting our house to sister while we live abroad - complications?
Hi,
I have accepted a job offer in sweden, and me and my partner are planning on moving out there at the end of October.
We currently own (mortgage) a house, but we dont want to sell so decided to try and rent it out. When in sweden we will be renting as well.
Luckily, my partners sister has said she will rent if from us; hopefully saving us a lot of hassle. We will continue to pay our mortgage as normal, and her sister will pay an agreed amount into our bank every month. This amount is just less than the mortgage itself. We will be leaving all white goods and big furniture.
Now i assumed all I would have to inform the mortgage company, house insurance and council that we will no longer be living there, and my sister in law will be.
However, I spoke with my house insurance company (privilege), and they said they couldn't insure us. They said this was because it technically wasnt our second home, and we werent technically landlords either, and all the white goods were ours so the sister in law couldnt insure them herself either....
Has anyone done anything similar in the past, or have any idea what we can do? Obviously I want my house to be insured and the insurance to be valid!
Thanks in advance,
Cyrus
I have accepted a job offer in sweden, and me and my partner are planning on moving out there at the end of October.
We currently own (mortgage) a house, but we dont want to sell so decided to try and rent it out. When in sweden we will be renting as well.
Luckily, my partners sister has said she will rent if from us; hopefully saving us a lot of hassle. We will continue to pay our mortgage as normal, and her sister will pay an agreed amount into our bank every month. This amount is just less than the mortgage itself. We will be leaving all white goods and big furniture.
Now i assumed all I would have to inform the mortgage company, house insurance and council that we will no longer be living there, and my sister in law will be.
However, I spoke with my house insurance company (privilege), and they said they couldn't insure us. They said this was because it technically wasnt our second home, and we werent technically landlords either, and all the white goods were ours so the sister in law couldnt insure them herself either....
Has anyone done anything similar in the past, or have any idea what we can do? Obviously I want my house to be insured and the insurance to be valid!
Thanks in advance,
Cyrus
