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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

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

196 replies

Letitrow · 07/06/2023 06:52

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?

OP posts:
Nanaof1 · 07/06/2023 15:55

Tinkerbyebye · 07/06/2023 07:15

I would let family stay there but no one else

This was my thought. Family members only and still have a contract. It seems that renters are getting more and more rights and landlords are getting less and less.The government seems to make tons of rules that cost landlords money, time and everything else; then complain that there aren't enough houses for people who cannot afford to buy.

RedRiverSun · 07/06/2023 16:06

Nope. Even if you rent it for two years if the tenants take a year to get out and costly legal proceedings it won't be worth it and you'll have a damaged house to come home to.

Nanaof1 · 07/06/2023 16:08

This reply has been withdrawn

This message has been withdrawn at the poster's request

Grumpy101 · 07/06/2023 16:45

People here are so weird. Of course you rent it out, it would almost be financially irresponsible not to as it's one of the perks of the job. We are abroad posted with DH's job right now and of course we rented our place in the UK. It's not the first time either. The only people we know who don't do that are much older, mortgage paid and have no more financial worries.

Do not rent way below market rate - that can create problems with tenants who can't afford to move out, or can't afford to keep the place nice, etc. Do go at the lower end of the market rate to secure someone in quickly. Make it a fixed term, ending 6 months before you move back. It will be fine.

S0upertrooper · 07/06/2023 17:25

What age are your kids? If they're secondary school age they may not qualify for resident University fees when you return and you may have to pay overseas fees. If you have an address in this country it's easier to maintain a bank account etc.

FrostyFifi · 07/06/2023 17:27

We did that and we lived to regret it. Couldn't get them out at the end of the three year period and wound up homeless ourselves. It took seven months and the house was trashed. One of the worst, most stressful times of my life and I suspect it would take even longer now.

Original poster
Letitrow · 07/06/2023 17:29

FrostyFifi · 07/06/2023 17:27

We did that and we lived to regret it. Couldn't get them out at the end of the three year period and wound up homeless ourselves. It took seven months and the house was trashed. One of the worst, most stressful times of my life and I suspect it would take even longer now.

This is my fear even though I'm sure the risk is low!

What age are your kids?

DS is only 6 and he'll be going to an international school, I am a bit nervous about that but will see what happens. Address etc is all good as its with work.

Thanks again all :)

OP posts:
violinviolet · 07/06/2023 17:33

Air b n b? Get a local company to help manage this

DarkPatrol · 07/06/2023 17:42

Be aware that when you rent to the council, it's not really to the council. In some places, it may actually be to a private company that takes responsibility for bringing a tenant in. They promise to pay you a guaranteed rent. But the fine print is that the rent is guaranteed for only 4-6 months. And damage caused by tenants is not necessarily covered. There are tenants who will refuse to move so that they can be considered homeless to get council housing.
You're better off either not renting at all (thanks to the government for anti-landlord measures) or renting at fair market value to someone that you vet thoroughly from the perspective of affordability.
Also, remember taxes. So, do a full cost comparison before deciding.

bonnymiffy · 07/06/2023 17:43

You don't say where you are (understandably) but if you were in a University town/city you could maybe ask their accommodation office about visiting lecturing staff, they'd be on a fixed term contract, and more likely to be leaving at the end of that and not cause any issues.
Similarly large nationwide companies (such as the BBC) also worth pursuing. I'm not sure I'd want my home left empty for 3 or more years.

LauraNicolaides · 07/06/2023 17:48

Letitrow · 07/06/2023 06:52

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?

I'd vote against. We used to rent a place out (did so for years), but have stopped doing so. The rental market is pretty broken, and the law is increasingly designed to discourage rentals in various ways. If you can afford not to it's better avoided.

Prettybutdumb · 07/06/2023 17:51

Letitrow · 07/06/2023 07:13

That's true!

Show quote history

We are in this exact predicament - rented out cheaply to a family for years and now they can’t afford to move out. We were silly enough to give them a lengthy notice because they have children and wanted them to have more time than the contract states, but they advised us to go though the court to get them out and are refusing to communicate. It will probably take us a year to regain access to our home.

Simplyfedup · 07/06/2023 18:06

If you let it out make sure you take out good landlord's insurance. Something that covers you for any periods when rent isn't paid during a tenancy, and that completely manages eviction processes. Some agencies include it in their service, which of course means it costs more, but also that they should manage any claims needed.

Lucyccfc68 · 07/06/2023 18:18

My sister did this and thought everything would work out well, as the person she rented to actually worked for the managing agents she chose to go with.

Paid the rent for 3 months and then just stopped. The amount of e-mails and calls over months and months to the tenant and managing agent, with just excuse after excuse. My sister found out, via the gardener, that this girls was going off on weekends away and holidays abroad whilst not paying the rent.

In the end, my sister had to fly home and turned up at the managing agents office and refused to leave until she got some answers. Got sorted in the end and it took her 12 months to get all her rent. All very stressful.

ZeldaWillTellYourFortune · 07/06/2023 23:01

I wouldn't; renters can do so much damage.

Fluffyhoglets · 07/06/2023 23:27

Lastqueenofscotland2 · 07/06/2023 07:07

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.

Living in the house yourself beforehand and needing it back to live in again when you return will be one of the reasons you can get possession under the proposals. You still might have to go to court though.

FarmGirl78 · 07/06/2023 23:54

Lastqueenofscotland2 · 07/06/2023 07:07

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.

Wrong. That's not the case if you want to move back into your house that you live in previously.

Mumtobabyhavoc · 08/06/2023 00:15

Yes, I'd rent it out, but I'd use a proper property mgmnt company and charge market rent. Be prepared for repainting and repairs upon return. I learned the hard way to not rent cheaply to anyone for any reason.

IBetGordonRamsayDoesntHaveTheseProblems · 08/06/2023 00:21

Lastqueenofscotland2 · 07/06/2023 07:07

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.

Do stop scaremongering.

The government is talking about abolishing S21 notices, often known as "no fault" evictions.

However, S8 notices will remain, and one of the S8 grounds is that the landlord used to live there and wants to move back in.

rwalker · 08/06/2023 05:02

IBetGordonRamsayDoesntHaveTheseProblems · 08/06/2023 00:21

Do stop scaremongering.

The government is talking about abolishing S21 notices, often known as "no fault" evictions.

However, S8 notices will remain, and one of the S8 grounds is that the landlord used to live there and wants to move back in.

Show quote history

Yes but that can be a massive costly legal process that can take months and months

Appleblum · 08/06/2023 05:12

I wouldn't. Too much work. We were in the same situation for years and never bothered.

watermeloncougar · 08/06/2023 05:25

In theory, the proposed changes to legislation should still mean that if a LL has a legitimate reason to end the tenancy, eg: needing to sell it, or to move back in themself, then this should just mean issuing an S8 notice.

However, we all know that this proposal is yet another shift towards enabling renters to feel they can call the shots, and away from LL having confidence that as long as they're a responsible LL, doing everything properly, that they'll be able to take possession of their property again in a timely manner.

It's simply disingenuous to claim otherwise. Why do you think LL are selling up in droves? It's not just due to mortgage rates. LL who don't have mortgages are also deciding the proposed legislation is the final straw and are getting out.

I'm all for tenant protection and not allowing LL to throw people out on a whim, but there are so many horror stories now of LL needing a year or so, having the hassle of going through the courts to regain possession. Tenants can make life hell, refusing to move out and in the worst cases trashing the property. And the irony is, all this does is make it way harder for decent tenants to find anywhere to rent. There's a dire shortage of rental properties and I can see exactly why.

ThankmelaterOkay · 08/06/2023 05:43

watermeloncougar · 08/06/2023 05:25

In theory, the proposed changes to legislation should still mean that if a LL has a legitimate reason to end the tenancy, eg: needing to sell it, or to move back in themself, then this should just mean issuing an S8 notice.

However, we all know that this proposal is yet another shift towards enabling renters to feel they can call the shots, and away from LL having confidence that as long as they're a responsible LL, doing everything properly, that they'll be able to take possession of their property again in a timely manner.

It's simply disingenuous to claim otherwise. Why do you think LL are selling up in droves? It's not just due to mortgage rates. LL who don't have mortgages are also deciding the proposed legislation is the final straw and are getting out.

I'm all for tenant protection and not allowing LL to throw people out on a whim, but there are so many horror stories now of LL needing a year or so, having the hassle of going through the courts to regain possession. Tenants can make life hell, refusing to move out and in the worst cases trashing the property. And the irony is, all this does is make it way harder for decent tenants to find anywhere to rent. There's a dire shortage of rental properties and I can see exactly why.

Stats > anecdotes

People always remember the horror stories. A tenant that paid on time, caused no damage, was polite, isn’t quite as fun a story is it?

Landlords have had it sweet for years. In terms of power and profitability. Both have diminished slightly. They mad. They ragequitting.

Short term this causes pain for renters, long term this is the shift the housing market needs.

watermeloncougar · 08/06/2023 06:03

Absolutely it's good in the long term. When loads more affordable housing is built, when social housing is readily available....

That's no help to the OP who actually started this thread, or to the thousands of people desperately trying to rent at the moment, who can't secure the skyrocketing mortgages! The rental market is dire, there's a desperate shortage of properties and frankly I'm not surprised; who the hell would be a private LL?

Croissantsandpistachio · 08/06/2023 06:06

We've just done this. Tenants moved out no problem. Everyone who I work with does it too. We advertised it as a 2 year let and the tenant had recently moved to the area and was looking to buy. I appreciate there's no guarantee they will leave though.

Advice-

  • Get an amazing agent (ours isn't). You want someone who can manage the tenants without constant recourse to you- ours was endlessly contacting us asking if we would pay for stuff that was the tenant's responsibility to sort because they weren't robust enough to do it themselves
  • Do not rent at below market rate.
-Accept they will paint etc and it will look different when you come back
  • Have a plan B in place if you need to pursue eviction on your return (hopefully the court backlog will clear a bit in 3 years)

Some colleagues air bnb theirs- there are agencies that will manage this- and then have somewhere to come back to in the holidays etc. It depends where you are though.