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Renting / Letting your UK home from South Africa

Renting / Letting your UK home from South Africa

Old Jan 19th 2014, 11:49 am
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Default Renting / Letting your UK home from South Africa

Hi everyone,

I see a lot of posts about expats selling their UK homes when they relocate to countries like Australia - but I'm assuming not all of us would if we are relocating to Africa. I have a home in Greater London/Kent and don't want to sell. Has anyone reading this kept their home in the UK while living in Africa and are renting/letting it out?

I would love to hear from people who are doing this and where your property is. Is it difficult? What should I beware of? Is there a particular problem you have had that I should be aware of? Any hints/tips/suggestions are appreciated.

Darren
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Old Jan 20th 2014, 7:11 am
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Default Re: Renting / Letting your UK home from South Africa

I used to know one couple who did this, but it was quite a few years ago and I've lost touch with them. Their situation was slightly different though, because the wife returned to the UK every year, and stayed in the house for a few months.

I agree with keeping your house. SA property prices are incredibly cheap for anyone with GBP, because of the exchange rate, but that works against you if you go back. UK prices are rising rapidly, and I could see some people finding themselves unable to buy back in unless they have a high income and/or substantial savings there.

I'm sure someone will offer practical advice about renting out your house. The usual caveats about due diligence on prospective tenants, a clearly written lease, provision for repairs/maintenance, and the costs if you appoint an agency or law firm to act for you are going to apply. Do you have family who could take this on?
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Old Jan 20th 2014, 10:37 am
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Default Re: Renting / Letting your UK home from South Africa

Originally Posted by TheodoreBrownPM
Hi everyone,

I see a lot of posts about expats selling their UK homes when they relocate to countries like Australia - but I'm assuming not all of us would if we are relocating to Africa. I have a home in Greater London/Kent and don't want to sell. Has anyone reading this kept their home in the UK while living in Africa and are renting/letting it out?

I would love to hear from people who are doing this and where your property is. Is it difficult? What should I beware of? Is there a particular problem you have had that I should be aware of? Any hints/tips/suggestions are appreciated.

Darren
It will be very straightforward to let your UK property. The only proviso is that there are possible tax implications so I should speak to your UK accountant about the tax side of things.
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