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Never wanted or thought we would be landlords now looks like we must let our lovely home

(7 Posts)
Lelivre Tue 04-Oct-16 08:37:50

Due to a sudden death in the family it looks like we will need to move in with a family member temporarily for the winter, at least. Financially we feel there would be a need to let our home as this move will incur expenses and our mortgage isn't small.

We have achieved consent to rent for a limited period. But we
are just finishing our forever family home, we didn't envisage this. We live in a popular area. We think there could be a demand for our home on a short term basis.

Where do I start, does anyone know? Will it get trashed? How about these new tax rules, I didn't even know the old ones. Can anyone help please. I'm so low over the loss that I can't even manage to research the way I usually would.

shovetheholly Tue 04-Oct-16 08:45:25

Gosh, what a difficult situation. I'm so sorry for your loss flowers

Quick question: can the family member move in with you instead? It would surely solve the financial problems? Or is that not possible?

AwakeCantSleep Tue 04-Oct-16 08:47:21

Sorry for your loss OP flowers

It must be so hard for you, but you must have your head firmly screwed on if you are becoming a landlord. Are you in England, Wales or Scotland?

Good place to start is here: http://forums.moneysavingexpert.com/showpost.php?p=67759929&postcount=7

Be aware that you can only serve a legal notice to regain possession of the property (S21) after a minimum term of six months. This is why most ASTs have a minimum fixed term of at least six month.

The MSE housing forum is a really good source of advice; I'd recommend to just read the tenancy threads on there as well as posting questions of your own. Good luck with it all.

Lelivre Tue 04-Oct-16 09:04:13

Thank you.

I'm in England.

I can't think as clearly as usual at present, but probably us moving is the most sensible option. We could even both end up selling due to the turn of events. I just don't know. We feel we need some months to support eachother, collect our thoughts and make some good decisions.

specialsubject Tue 04-Oct-16 09:13:29

Sorry for your loss.
All may go well with renting out. But in a minority of cases, you get a non-payer who wont leave and a trashed house. The eviction process takes four to six months and costs at least £2000.

I have insurance for all the costs so far, and it isnt my home so no emotion beyond annoyance at the wrecking of a smart clean house. But this would be the last thing you would need.

And this tenant passed all checks and was no problem for quite some time. You never know.

You will also need many insurances and to store all your possessions.

I wish you the best.

BombadierFritz Tue 04-Oct-16 09:19:26

I am very sorry for your loss. we are 3 months in to a bereavement as well. initially we started looking for a place to buy together but 3 months in, the shock has lessened and I think we will be ok. it might not apply to your situation, but I just wanted to say I know I was not thinking straight, it was shock and grief, and for us at least, by 3 months we were able to see other ways forward. renting out will take a few months to get sorted anyway, perhaps by then you will also see another solution? I wish you strength and courage xx

Lelivre Tue 04-Oct-16 12:58:16

BombadierFritz this is of particular help. Thank you for posting. You may be right. We are just a few days in at the moment. It's hard to think clearly. Perhaps we should bide our time.

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