DS plans to leave his central London flat totally empty for a year

[Tedsabear]

Hi all, so my DS’s dad passed away a couple of years ago, between his pension, life insurance and home DS and as able to sell his home and buy a flat in central London. He spent over 1 million on this (his dad wasn’t super wealthy or anything he just owned a property in a nice area of London and it was paid off mortgage wise). His girlfriend is Portuguese and also owns property in Lisbon.
They are mid 20s.

They have decided to spend the next year as digital nomads as they are able to work remotely. I told DS he should rent out his flat and his girlfriend should do the same. One from a security perspective and two as extra income. He has said no he doesn’t like the idea of someone staying in his space, he’s said I can go and check on it once a month or “whatever” if I like. He said his girlfriend will be doing the same anyway.

AIBU to think he’s being ridiculous?

Having seen how upset my late neighbour was with the damage caused by her professional tenants to her old family home, I’m team DS on this one. Holes punched in walls, broken doors, burns on carpet, new kitchen absolutely filthy - the list goes on. The three months deposit she received didn’t go anywhere to repair the damage. She was heartbroken as it had been inherited from her parents. Leave him be - as long as he has told his insurers and complies with their requirements and is happy with the limited cover, then it’s his business what he does.

Renting will be a huge hassle for only a year plus a tax return to submit and tax to pay on the income. Does he not have any friends or family that would like a nice place to stay every now and then. If he can get enough family and friends to use it for staycations so it's never empty for more than a few weeks at a time it would probably be better than leaving it completely and obviously unoccupied.

Re short lets - is near a uni? You might be able to get on a scheme for finding accommodation for visiting academics. In Cambridge this is a thing.

We rent our house out while we are working away, but plan to move back there when we can.

It’s horrible. A succession of tenants who don’t look after it. Massive refurbishment costs after tenancies. Currently trying to evict an unsuitable tenant and feeling bad for them, but knowing their antisocial behaviour is making my neighbours lives unpleasant.

If there was any way that financially I could leave it empty and just go back when I want in order keep it ticking over and looked after then I would.

I'm with your ds. As long as he turns the water and electricity off, and you check it every now and then, it will be fine. My friend's parents have a house in France that they couldn't get to for three years. Last went in autumn 2019, then COVID, then one of them was very ill. Finally managed to get down there early 2023. It was fine. Just slightly dusty, but otherwise, absolutely fine.

A relative of mine rented her house out while living abroad and the tenants left it a shithole. Literally shit smeared on the walls.

Took her months to get them out despite the rent arrears and she had to go to a court in the end. She said she would never do it again.

We moved abroad when I was a kid and the house was empty apart from when we came back to visit. DGM would go in and check it every so often.

You’re sounding quite bitter there. What’s wrong with investing his inheritance in a London flat?

20 odd years ago my DH bought a tiny shoebox of a flat in Notting Hill with inheritance he received. Best investment he ever made.

It sounds like your DS has invested wisely but frankly it’s none of your business.

This! I'm a small scale landlord (one flat), and as I was growing up our family home was sometimes let out while we were away being a trailing family.

I wouldn't let out my own home for a year- far too many occurrences of tennants leaving property in a state. As a teen my parents struggled to get our property back off one lot of fixed term tennants and we were left sofa-surfing while they had the house. When they did vacate, the house was in such a bad state that the professional cleaners walked out after a few hours, the whole place needed redecorating and we all got fleas becuase their dog had left them behind. I've also had tennants do some fairly major damage to my property and what we were allowed ro reclaim from the deposit didn't touch the sides (i.e. a non-permitted pet tearing up 2ftx2ft patches of carpet was deemed "fair wear and tear").

It's also hassle when things go wrong, even with an agent, they'll be calling every time there's an issue wanting an "ok" to sort the problem, having tennants is a job in its own right as clearly problems do need to be sorted quickly for them.

I don't think its worth the risk for a one year let if they want to move back in afterwards.

This is obscene. He sounds incredibly blinkered. Get a decent letting agent

Team DS. It’s not worth it to rent it out for a year, and it could cost him more than he would make it in rent. Plus, it’s his home, it’s totally reasonable that he wouldn’t feel comfortable having someone else living there and using his things.

If your relationship is always strained, perhaps it isn’t the best idea to second guess his decisions and make your disapproval known. It may not be the choice you would make, but it’s not your choice. It’s his. Respect that.

By the time he’s paid tax on the rental and paid for a company to maintain it, he’ll have not much left. Honestly it’s not free money renting out a flat, it’s full of taxes, costs and headaches.

I get what you mean but they’re not exactly sh sort of cash are they now? They want the convenience. His flat, his choice. You could go and stay and have weekends in London while he’s away and check on the place.

Lol. Not at all.

That said, even if he was blinkered (he isn’t), he’s fully entitled to be. It’s his property and he’s said no. Op can’t force him into it, so not sure what getting a letting agent would achieve.

And this is exactly why we have a housing crisis!

@Tedsabear It’s absolutely none of your business what he does with his flat. He’s a grown man and if he doesn’t want a stranger living in his home for a year (I wouldn’t either), that’s his prerogative.

No wonder your relationship is strained. Back off and keep your neb out is my advice.

He's an adult. None of your business

An empty property requires special insurance. Part of the terms of empty property insurance is that someone checks the property weekly and provides evidence that this has been done.

All above points considered what about the scenario his nomad dream isn’t what he thought it was cracked up to be and wants to return after 3 months?

Or if he and his GF split up?

A year is not actually that long and the costs of renting plus the risks may well mean he makes little to no money. Given awful tenants he could end up out of pocket plus have his year out totally screwed up by dealing with the fallout.

It’s a very different proposal to rent your own home in comparison to owning a rental property.

Does he leave his stuff there and risk it being trashed/stolen or pay to move it into storage?

OP I think you are being very naive about the costs/risks/financial rewards of renting in this scenario.

In your DS’s situation it’s not something I would consider either.

The op question is: AIBU to think he’s being ridiculous?
I am responding to the op that yes I think he is and she is not being unreasonable.
a decent letting agent would mitigate any risk of lending to the wrong person and fix any issues and of course he is blinkered to the housing crisis if he’s happy to leave a property empty .
‘lol’ at you laughing at me as though mine is the only comment here that suggests applying the same common sense.

😂

I assume you’re joking

It’s absolutely not.

Many people who rent want long term security about where they live, not a year long contract.

We don’t have enough homes which then drives up prices. Thats why there is a crisis.

It depends. We have a flat in a small block and we are not there often (neither are other owners) we just declare it when we organise the insurance. If it’s a leasehold (not share of freehold like ours) then the building insurance would need to cover all eventualities unless it’s stated in the lease that the flat needs to be occupied. Worth checking teams of the lease OP.

Have you told tge insurance company that you're living abroad? My house insurance stipulates that I need to inform them if I intend to leave the house uninhabited fot mot than a fortnight at a time.

Don’t be so stupid suggesting illegal and sneaky manoeuvres. Yes,illegally subletting son flat and picketing the rent that’ll boost familial relationships

Mr know it all is going to come a cropper.