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?

This is unbelievably naive. S8 is a nightmare to use which is why many LLs use the so called 'no fault' S21 even when the tenant is at fault.

The devil will be in the detail of how S8 is drafted to replace S21. OP could easily be caught out and have a real struggle getting her house back on her return.

Can you ask what others in your situation have done before? Maybe ask on the living overseas board but also in your own company.

Have a detailed discussion with an estate agent about the local market. When we were in a similer situation, the estate agent was able to talk to us about the type of tenants in the area, which type of tenants were likely to be renting which types of property, what the turnover was likely to be and you can also ask about how often landlords find themselves in a position where they are unable to gain posession of their property when they return.

When we first moved abroad, a neighbour also moved at the same time.. we had LONG discussions.. her property was different to ours and had shorter tenancies but was never empty. We had one long term tenant. Circumstances changed for both of us and neither of us returned to our properties. I also had a friend who did similar and she ended up having to go back earlier, giving notice to her tenant, considered having to live in temporary accomodation for a short time before her house was available but in the end her tenant found somewhere and they were able to move back in. I also know many other people who have lived abroad temporarily and then moved back to their property without major issues.

Things do happen... in the 4 years we rented ours, the fridge and cooker needed to be replaced, the tenants bikes were stolen from the garden shed, there was some damp which needed to be fixed. Before we left, we had quite a few repairs done to the property to ensure that it was in good working order including a new boiler, powerful extraction fans installed in the bathrooms to prevent condensation and damp. All of this meant that for the most part, it went smoothly but was not without work.

We had our rent paid while we were posted abroad so could have covered the mortgage from our salary but it made no sense to leave the house empty and instead we benefited from the extra income.

I’d do air B&B rather than a rental.
I had a similar situation to you and rented the property out. Got it back ok after the first tenant left but it was filthy and lots of damage despite a very expensive management company being in charge. Second set of tenants refused to leave. It was awful trying to navigate it al from overseas. It would have been 18 months to get a court date and even then they could have stayed until we got bailiffs. In the end I paid them a huge sum of money to go. This was a professional couple, fully vetted, family members of a friend - who knew exactly what they were doing. It was so stressful and ruined how I felt about the house.

I would rent it out - but not at below market rate, and through a good estate agent. You’re not likely have trouble getting them out, while that does happen it’s really rare. I’ve been a landlord for years and it’s never once happened to me.

I don’t think it’s a good idea to leave a house empty for three years.

Get the rental contract to end a few months before you return and book the place to be painted / new carpets / new kitchen or whatever so it feels fresh when you return.

Because I'm in the military and I don't get much of a say over my postings! My last one before I leave (which this will be) was so unlikely to be overseas didn't even consider it when we moved away from the patch and bought it. I'm not sure why I should be financially punished for being forced to move my family abroad for my job which serves the country?

Thanks I didn't think of that, I'll try and speak to them and see if they do that here and what the deal is.

Something like this would be my first choice. I wouldn't really like to leave it empty, that comes with it own set of risks too. Would be worrying about squatters, and it's just not good for the house if it's not lived in for a long period.

@rwalker

Because there are >250,000 properties empty for over 6 months.

Because there is a housing crisis.

Because people sleep on the streets.

I’m not saying she needs to rent it out to the first homeless bloke she meets begging for money as he wanders up the traffic at a red light (what a time to be alive), I’m saying the knock on effect of 250,000 empty properties, and god knows how many short term lets, is the housing crisis.

Until a govt penalises empty properties this will continue. It doesn’t matter how many properties are built, if a fraction are bought by investors to hoard empty or let short term. And that’s when the house builders fancy building (ie not now).

She should find a friend of a friend of a friend and rent it out to someone she knows. Or through a chain of people. Failing that, she should consider selling.

I did think about this, not sure the area would be overly appealing though, I mean it's lovely but there's not a load to do in terms of holidays and whatever. Not sure of the disruption to neighbours etc but might look into it more.

I'd rent it out.
I'd be more concerned about illegal squatters and issues with water pipes, boiler etc if leaving it vacant for 3 years.

Could you rent to other people who are in the army?

1 million percent this.

This is what I would do.

I sometimes have to place staff abroad in the EU for set periods of time and my company takes over the rental contract, not the employee. I would find a letting agents that specialises in overseas worker placement.

Or pop it on AirBnB and rent out as a holiday let.

Do you live near an American air base?

I did consider this, might speak to welfare and see if they have any ideas.

It's not good for a house to sit empty that long. I would definitely rent it but I would rent it for 2 years then give notice. Then if anything goes wrong you have options. If it's a good rental area then rent to a professional and you shouldn't have problems getting them out. There are plenty of industries where a person has to pass checks for a job, pick one of those. Those people cannot be in an eviction process.

Honestly while you don’t have a choice and it’s a military thing, I kind of agree with PP. We have a housing crisis, leaving a house empty isn’t morally sound. It’s not your fault, but in general a person should be somehow penalised for leaving a house empty. In your case, perhaps your company would take the hit. It’s all moot as it doesn’t exist, but it should.

But, like I said above, I don’t think you should rent it out below market rate. You’re more likely to have a problem then - someone who can’t afford to move on.

I live in a part of London that is FULL of empty houses. Huge, luxurious empty houses. Usually owned by people who live abroad. Go a half a mile in another direction and there are at struggling families and homelessness. It’s depressing.

I’m sorry for having a go OP.

My problem isn’t with you, it’s with our govt. I also, ashamedly, thought you were just a wealthy person who was swanning off to the ME for a few years.

I’d try to find someone who being stationed in the U.K. for 2-3 years. US service person would be ideal.

I would definitely do it! I rent out a 2 bed house and in 3 years I make £43,200 so you would be missing out if you just left it empty!

I wouldn’t sell personally. Would your LA or Housing Association be interested in a 3 year contract to rent it from you? They normally cover all rent and any damage caused. Worth considering.

The change that is coming in evictions allows for tenancies to be ended when the landlord wants to live there if the landlord has lived there for two consecutive years prior to the tenancy.

Assuming you are a military family and are doing a posting abroad mortgage providers are obliged to let you rent it out.

I would rent it out, houses can degrade a lot standing for three years. You can advertise it as a short term let of say two years so that you have a big buffer between them leaving and you returning.

Maybe rent it out for 2 years. That way if they are reluctant to move out you have time before you return

Make it clear upfront this is a 2 year tenancy with no renewal.

Go via an agent.

That's okay, I largely agree with you that it's wild there are empty properties whilst others have nowhere which is why I'm considering all options. Me and my mum and siblings spent a few years bouncing between hostels and tiny flats when I was a child so I do feel guilty if it's left empty.

I haven't read the full thread but what about using it for holiday lets?

You'll likely have a local company than runs them, they do all the booking and change overs, and you get a percentage of the profit.

I'm a landlord but I manage my rental myself, so I know it's all done properly, but if I couldn't manage it then I'd do airbnb.

If you do have tenants with an AST though you don't need a section 21, if you need the property yourself you just need to give them 2 month's notice.

The problem would be if they refused the you'd go to court to get them removed but it's fairly straight forward.

It only gets complicated when you're evicting due to other reasons like no payment etc.

Do you know anyone personally family/friends who could take advantage of the lower rent?

When I was 20 and still living at home my cousin moved to America and offered for me to move into his house here for £200 + bills per month. It was a win-win situation as I got to move out at a time when I otherwise couldn't afford my own place and he knew the house was being well looked after.