We're moving abroad next year (Australia if relevant)
We have five properties in the UK. These prices may seem low to you guys, but we live in south wales where property is dirt cheap compared to the likes of the south east.
The one we live in at the moment 2 bedroom top floor flat, worth approx £60k.
Let out, 5 bedroom property, worth 300-320k. we get 700pcm rental income from this property, we've had the tenants for years, lovely family so while we could get about 100pcm+ more we choose not to put the rent up. We have 7k left on the mortgage. Mortgage will be cleared before we go (Nov this year is when we will be mortgage free)
One bedroom flat, Let out, worth about 45k, rental income £300pcm. abot 50pcm under market rate. 2k mortgage left on this property, will be mortgage free by Dec.
3 bedroom house, let out, worth about 150k. brings in 450pcm rental income, could charge about £75/100 more but we want to keep our current tenants.
2 bedroom house, let out, brings in £395pcm, Worth about 75k.
We have savings that would allow us to buy a small property outright in Australia, DH is a resident but I will be on a temp partner visa while my visa is processed, we're hoping to stay there forever. We will have an income in Australia of about 950,000AUDPA (But this is before taxes/medicare etc), so won't need the money, Is it difficult to manage properties from overseas? More hassle than its worth..?
My question is, would you sell up some, all of the UK properties, or continue to let them out via a lettings agency or similar (I'm quite hesitant due to recent awful experience with letting agencies)? WWYD? If you did sell up, where would you put the money? Australian property/savings?