Letting out a family property for a year

[rad2]

Inspired by the early retirement thread…

Does anyone let out their family home on a long let basis - whilst they live somewhere smaller like a flat or perhaps even a caravan?

Are you saving money - or is it a major hassle and expense putting things in storage?

Bumping

I have friends who did this every summer. They rented their place for 6 weeks to the same family who came over for a holiday. It was a massive upheaval but the short let rates each summer paid their mortgage for the year. They stayed with family / went on holiday during the 6 weeks

Depends on the tenants I expect. And what you pay mortgage and can expect in rent. I rented out my house while I lived with a partner had nice tenants too. But they always reported maintenance Friday night so I was paying out of hours rates to fix a toilet that had been slow filling all week etc. Also had to pay maintenance for stuff I'd have just lived with myself. I probably made £100 a month from it. And my garden was overgrown when I moved back

Not so great for you then.

anyone else have any experience?

It’s very risky. You might get someone who trashes the place, or runs up huge utility bills.

Or indeed fails to pay the rent and then refuses to leave. I know of two people in that situation right now and if it was their own home they’d really be stuffed

I don't know if they do it with your local authority but my local council will rent your property for a minimum of a year. They pay you a years rent upfront and deal with any problems with the tenancy. You have to pay landlord insurance, and if anything happens and the insurance goes up massively then they will give you money towards it.

Yes but get landlord insurance covering damage non payment
of rent and legal fees Forget the
Council