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Rent or not to Rent

Rent or not to Rent

Old Jul 21st 2009, 8:32 pm
  #1  
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Question Rent or not to Rent

Hi everyone
We have reached the stage now where we as a family need to make some BIG decisions regarding hopefully emigrating to NZ. I have been offered a job in Chch which is great, but since April when i got offered the job we have been researching all sorts of things and we feel we have gone round in circles.
One of our major concerns is what to do with our house in uk. We would like to rent the house out for up to 2 years,as hopefully in that time the housing market in the uk would be on the up and we would get more money from the sale of the house.

It would be nice to hear from anyone regarding there views on whether to rent or sell the house,but if you have rented your house in the uk while living in NZ then there are a couple of questions i have .

Firstly do you have to pay any uk tax on the income you get from the rent in the uk, as i have been trying to find this out and so far from what i have found, i do not believe you do if you declare you are an overseas landlord.

Secondly we would have to use a property management company to look after the house and i was wondering if most people had found it easy or difficult working with the management company from the other side of the world.

we are both stressed out at the minute as we have other issues to sort out, but if anyone could shed a bit of light on this dilemma it would be greatly appreciated.
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Old Jul 21st 2009, 9:16 pm
  #2  
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Default Re: Rent or not to Rent

Originally Posted by kiwiwoodpecker View Post
Hi everyone
We have reached the stage now where we as a family need to make some BIG decisions regarding hopefully emigrating to NZ. I have been offered a job in Chch which is great, but since April when i got offered the job we have been researching all sorts of things and we feel we have gone round in circles.
One of our major concerns is what to do with our house in uk. We would like to rent the house out for up to 2 years,as hopefully in that time the housing market in the uk would be on the up and we would get more money from the sale of the house.
Swings & roundabouts!! IMO if it goes up again here it will be reflected in NZ
It would be nice to hear from anyone regarding there views on whether to rent or sell the house,but if you have rented your house in the uk while living in NZ then there are a couple of questions i have .
Think this would depend on your plans and whether you have PR or WRV, we are keeping a house here for a couple of years (son will live in) (I will have PR OH holds NZ passport) until we are absolutely sure of where in NZ we will live and that things work out for us there .... may be seen as being over cautious but know of others who have emigrated and wished they had keep foot on property ladder here
Firstly do you have to pay any uk tax on the income you get from the rent in the uk, as i have been trying to find this out and so far from what i have found, i do not believe you do if you declare you are an overseas landlord.
http://britishexpats.com/forum/showthread.php?t=621031this recent tread may help you
Secondly we would have to use a property management company to look after the house and i was wondering if most people had found it easy or difficult working with the management company from the other side of the world.

we are both stressed out at the minute as we have other issues to sort out, but if anyone could shed a bit of light on this dilemma it would be greatly appreciated.
HTH B x
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Old Jul 22nd 2009, 3:02 am
  #3  
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Default Re: Rent or not to Rent

If it flies, floats or *****s rent it.

HTH
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Old Jul 22nd 2009, 3:40 am
  #4  
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Default Re: Rent or not to Rent

Helpful and perceptive as ever Mr. C

Having rented out a house in the UK both with and without agents I would say that agents give you peace of mind but take a large piece of the contents of your wallet and in the end will claim not to be responsible for anything.

I had loads of ‘small’ repairs which were curiously just under the limit I had set to be asked about…for example a loose wire in a light switch and a bit of oil on a door latch cost me over 150 quid!

However if you DON’T use an agent you must get someone you trust to look after the day to day running of the rental property. There is no way you can manage things remotely from here.

On the house price front, I’ve read recently that the short upswing in the prices in the UK is unlikely to be sustained so banking on a price rise in a couple of years might be optimistic. On the other hand if you were to sell your house anytime soon, the interest you could get on the capital won’t cover your rent in NZ, so maybe renting out your house is the best option - imho
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