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selling and renting?

5 replies

mamaloco · 02/07/2010 13:11

I live overseas for my husband's job. We tried to sell but after 6 months we ended up renting. We really need to sell though but now also need the rent to cover the mortgage. The agent are saying they can't do both at the same time. They don't put rented houses on the market. Is that true?
I am sure I have seen some for sale with tennants in.
Is there anything like a "owner to owner" selling market? if so where?
Thanks

OP posts:
TennisFan · 02/07/2010 13:17

Around here there are houses which are for sale and for rent at the same time.
In fact I viewed one this morning - we are looking to rent it, but it will also be for sale. We will be allowed a 12 month lease and they will be happy enough that the rent covers their costs. They have already moved house but hadnt sold.

kittycat68 · 03/07/2010 01:41

only thing i can suggest is that you put it on the market for sale the same time as advertising it for rent,as above and see what comes in first then make a descion most likely it would be a rent though. you could do it on a short term lease of three months and then renew this every three months but it is more costly to do it this way.
could it be rented out as a holiday let? that way you get high weekly premiums and its not booked all the time so viewings could still take place for sale in between and there are no long contracts for renters.

kickassangel · 03/07/2010 01:49

hm, i think there is something about a house can't be advertised for sale if it has 6 mths to go on the rent, but then you can put it on the market after the first 2 months? trying hard to remember, it's nearly 2 years since we dealt with all this so a bit hazy.

mamaloco · 03/07/2010 14:22

thanks. we have tennants in for a 6 months contract. we need them in but we also need to sell. We have been allowed to rent it as it is our main home but we are cuurently abroad. The mortgage provider have very tight rules (6 months rents max, no holidays...)
any ideas?

OP posts:
kickassangel · 03/07/2010 14:57

speak to another estate agents & ask them what the legal requirement is re renting & having house on market, not their company policy.

really can't remember exactly, but i know we were told that the day we signed a contract for renting, we had to take house off market, but that it could go back on again after a certain amount of time. it's something to do with the regs for shorthold tenancy.

you're v lucky to be allowed to rent out - our mortgage co completely screwed us on that. luckily, someone turned up the next day who insisted on buying the house

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