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?

Yes, this. There are also risks with leaving your property empty. You could advertise for someone at a ‘house sitting’ rate even if you don’t rent it at full whack to open-market tenants. Don’t just leave it unoccupied for 3 years when it could help with the housing shortage.

So the government post them abroad as a military family and then you would like to penalise them for leaving their home empty... Okay.... Personally I think the government should be thanking them for their service.

Someone mentioned a company let or council for temporary housing. Bear in mind you then have no control over who lives there and wear and tear might be greater than one ast. There are also tax implications on the rental income as a non resident landlord, although rules may differ for a forces placement. You would need permission from your mortgage company to let it out and they may insist on btl terms.

I was going to suggest this. I know a few of the flats in the block my MIL lived in were managed by the MOD - she had a lovely neighbour in the forces whose cat she used to feed when she was away.

I would look at housesitters. It's a brilliant system all insured and referenced keeps the house safe and insurance valid and gives someone who needs it a home. They will look after pets too if you don't want to uproot them.

Even if Section 21 is abolished you can give notice under Section 8, with grounds, one of which is the landlord wanting to move back in to their property.
Rent arrears, antisocial behaviour will still be grounds for eviction.
I'm not sure whether certain changes will be applied retrospectively (so say they decide to abolish term leases, will this just apply to new tenancies)?
All my tenants have left the properties in good condition - even the one who failed to pay rent after the first month and exhibited antisocial behaviour from the first week left with only a little bit of damage. I think assuming a tenant will cause damage (other than fair wear and tear), refuse to leave, or otherwise be problematic is quite a cynical view.
Getting a really good managing agent is key.
By the way my best tenants were foreign students, my worst two separate (middle aged) English couples.

https://www.trustedhousesitters.com/house-and-pet-sitting-assignments/united-kingdom/?psafe_param=1&gad=1&gclid=CjwKCAjw1YCkBhAOEiwA5aN4ARNg0W2BSx4quHE3XvLlLk__ch-lMWdFrPSTelQzXnPwniLHvKJEoBoC0fcQAvD_BwE

Forgot the link

There is now a shortage of rental properties due to new laws. The government may well have to review the changes to rental laws and make it easier to evict problem tenants.

don’t let to family/friends as that will end in tears.

Use a local, reputable, Lettings agent who knows the local market

I wouldn't in these circumstances. It might be fine but it might cause you loads of stress. Good luck with everything

Do you know anyone (relatives, friends, friends of friends) who could benefit from a rental property? I rented from some slightly older friends who were in a similar position and it was an ideal situation for everyone. They benefitted from having someone in the house that they knew, but could also leave their furniture, some of their belongings (and towards the end, a place that they could also use at weekends if mutually agreeable for both of us), but I benefited from below market rent (and also a place to visit overseas!)

Corporate let?

Love the suggestions of offering it out at a low rent to help people out, it's a great idea. It's actually one that my DPs had when they ended up with two small properties in a slightly rubbish area.

They offered both on the market at substantially reduced rent. Both were snapped up and the tenants absolutely DESTROYED them within a year. Poo on the walls, demolished bathrooms, flooring ripped up - tens of thousands in damages to both.

When they fixed them up my DPs offered them back to the market at a high price point. They were rented and the tenants looked after them well because (unlike before) there was a perceived value to the properties. People see cheap and think disposable, sadly.

What difference would 3 years of rent make to your lives? We set a budget for repairs and other work required to get the house into a rentable state, estimated the rent, repairs, contingency fund, estate agents fees, tax payable etc and then were looking at a conservative figure overall.

Might be worth doing that and deciding if it is worth it.. or if it would be good to have this money... to spend or to save..

We live in a capitalist society.. everything we buy has profits going to someone.. you already serve society with your work. You do not need to rent your property out below market rates.

I’d rent it out via a reputable and effective letting agent, who vet tenants properly and be picky about who it’s rented to.

Even if new legislation comes into force, it's highly unlikely that it'd preclude an owner from regaining possession of a house so they and their direct family could live there themselves!

It would depend how much the rent would be. We're in the south east, so 3 years of rent would be an enormous amount of money. And you're in a position where you can vet tenants very carefully and be very selective. Pay for a good managing agency and start the eviction process 6 months before you plan to return.

I know nothing about this stuff I wonder if lodger situation would work? You could then come back and stay if need to visit family but lodger would have run of the house most of the time?

In a similar situation, I've previously let a house to PhD students, who were living in the area while completing their studies. This could be an option depending on where your house is.

Thanks everyone for taking the time to give advice, there are options I hadn't considered looking into so will definitely do so. I will read each and every message as I really appreciate it, thank you again :)

There's university staff - often they are on one or two year contracts and arrive from overseas.
Agree with pp - let it for two years so you have time to move someone out.
Maybe consider property guardians, through a company?

We were overseas for 4 years and rented out our house through a letting agency. We ended up selling it to the tenants as they approached us to buy. This was brilliant as we didn’t need estate agents and they offered us market value. We ended up buying a much bigger house as we had overpaid the mortgage and saved whilst away. It worked out great for us. You might feel differently about your house once you have lived in other properties overseas. We lived in 2 different countries in much bigger houses than the one we left! Also you might not want to come back at all.

Could you ‘rent a room’ so technically they are a lodger, not a tenant, with different rights? Or use a guardianship company so the house won’t be left unoccupied? Renting seems risky for your scenario.

if short term, rent it out to students

@FunWithFlagz no, if it meets the conditions of a tenancy you can’t call it a licence. There is lots of case law about this.

OP, there is loads of absolutely rubbish advice on here. Military families do this all the time, I know at least a few people on our street on our patch that do it.

You will be able to evict, it’s one of the Section 8 eviction reasons clearly set out - https://www.gov.uk/guidance/tenancy-reform-renters-reform-bill

I’d ask welfare or the families federation for advice, I know there was a drop in clinic on our camp for property purchase and this was one of the things covered.

I would, at market rate with an extremely good agent. I would make sure I invested/put rental profit into savings so should the worse case scenerio happened with tenants who cannot afford to move, I would at least have fund to pay for a second property for my family in the meantime.
I would consider giving notice well in advance of moving back with a sizeable buffer to allow for potential issues as well as paying for any repairs etc.