To ask would you bother being a landlord in this situation?

[Letitrow]

I am fairly unexpectedly being posted abroad for 3 years with work, DH and our DC are moving too so our 3 bed house that we own will be essentially vacant for that period- we definitely want to move back there after this posting though so aren't looking to sell.

As we are in the fortunate position of having all expenses paid for the move, including not having to pay accommodation, I'd love to rent it out whilst we are away (rental properties are in great demand and short supply where we are) for a very small charge. Be more than prepared to invest of course to make sure it meets all of the standards for rental, the boiler is only a year old and everything maintained to a high standard and have family nearby who could help assist if anything needed doing 'in person' and we'd obviously pay for repairs etc.

Only issue is I don't want to come back at the end and have to go through a lengthy process to get our home back. Even if we were up front for the period it was available for I am aware there are (rightly) tenancy laws that mean it's not always that simple. There's also the risk of damage and stuff but that would be covered by insurance so not overly worried perhaps naively about that, and aware it's only a tiny minority where that happens.

Landlords or anyone really, would you go for it? It seems a shame to leave it empty (well just family and friends going to check on it periodically and run the water etc) for 3 years but similarly could it all go very wrong?

If you don't need the money I wouldn't bother personally.

I wouldn't. There will be considerable wear over 3 years; a lot can go wrong.

It also gives you the flexibility to move back should the new job not be what you were hoping.

No, I wouldn’t.

I would be very wary of doing simply for the reason that, because rental
properties are in such demand, while you’ll have no problem finding a tenant, you are likely to have issues when the time comes to move back and you need your home back. Even if your tenants are lovely and look after you home while you’re out of the country, it could take months and months for them to leave when you want to move back in.

Plus, if they can’t find somewhere to move to, the local council will advise (quite rightly) that they stay in the house till bailiffs come to physically remove them before they’ll assist with temporary housing and that can take 6-8 months minimum from the point at which you serve them notice. Plus you’d have the financial burden of the legal process (though you can currently claim back the court and bailiffs fees) and repayment of those costs could come slowly; at the same time you’d have to find somewhere else to live along with the expenses of being tenants while you wait for your home to be returned vacant to you.

Ah thanks, this is what I was concerned about. We definitely won't be back before the 3 years as I don't get much choice as to where I go and how long for 🤣 but could do without the potential stress. Its a real shame as its a lovely house but I think you're all right, we don't need the money to keep up on the mortgage and more stress than we need.

Only other thing to consider is home insurance. Often it's not valid if you leave your home empty for long periods.

If you can vet the tenants then why not, but on the basis that it's a fixed term tenancy. I'm not sure how many prospective tenants would like a fixed tenancy but I'd say it's worth it if you can, and are able to change your mortgage easily.

I have some lovely tenants at the moment who respect the property and we have a great relationship, but it's essential that you meet them and choose them.

With rental property, you need to think of it as a business. You can't have emotional attachment.

I would consider it if...

• you accept that your tenants won't look after it like you do
• use a proper management company
• plan to end tenancy a few months before you return
• you will to pay for storage while you are away.
• you are likely to have to redecorate on return

The current government is committed to getting rid of no fault evictions. You could be left with no legal route to get your house back when you return.

This is why landlords are giving up and the amount of rental properties is shrinking and becoming more expensive.

Fixed term tenancy at a below market rent. You get quite a bit of say over who you rent to. Put it this way - if you could give a small family the chance to live somewhere decent for three years at a low ish rent, why wouldn't you? The chances of having to evict are very small. Have you spoken to an EA about this?

I think you could do a fixed term let for a high price. My neighbours have done this. Any damage is covered by the rent and you get a tenant who understands and can financially manage leaving at the end of the term.

I would rent it out. You may find yourself staying there a lot longer than 3 years or go somewhere else after. You could always rent for a year here while you got your property back.

I know of someone who did this and fell unexpectedly ill and needed to return home with their family. The perfectly nice and vetted tenants refused to move, had to start the eviction process which took almost a year, absolutely trashed the home and it was such a process. My own experience was that we owned our home in another country and it took us a year to decide that we want to stay, we never rented it out during this time. We eventually sold it but I couldn't imagine the stress of getting someone out too if you're abroad.

Before you rent it out please look into the abolition of S21 notices. You may not be able to get the house back regardless of what is in the contract as statute will always override contracts

I would be wary about going below market rate. Its more likely to create a scenario where the tenants can't afford to leave.

Yes we have spoken to a few local estate agents, 2 have been round and said what would need doing to be compliant ie with alarms which we'd be happy to do. We did raise our concerns but they highlighted the potential risks, did ask about getting something in concrete about being 3 years but their advice was to rent it for 2 and gives time if proceedings need to be followed which didn't inspire much confidence!

you could give a small family the chance to live somewhere decent for three years at a low ish rent, why wouldn't you?

Yes this is the only thing I'm grappling with really, I grew up in an over crowded flat as no suitable properties to move into and I feel selfish that this could help a family in that sort of situation. But also have to think of my family too.

Yes be very careful, if you can afford not to then don't do it.

Is the house in an area where it could possibly be used as a “company let”? ie let it to a business for use by their employees perhaps relocating? Maybe more secure and less likely to have problems at the end of the tenancy

If you know you'll be away for the full 3 years can you make it a fixed 2 year tenancy and then there is still a year to sort out any issues before you need to be back in it.

That's true!

Very naive, this struggling family could turn out to be the biggest nightmare and refuse to leave.

Thanks I will look in more depth at that, I guess in 3 years could be lots of changes!

I would let family stay there but no one else

I don’t think there should be a problem leaving it empty, but you should be financially punished.

Morally it’s abhorrent. A major factor as to why we have a housing crisis is empty properties.

Were you moving too? Why don’t you want to stay there permanently?

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