Renting your family home out - your experiences please!

[ozindublin]

Hi PBrady,

When are you heading over, and when did you begin to look for a tenant? I'm not sure how to time it. I have plenty of time as we're not leaving until the 8th October, but it could be pointless starting too early? I'm really not sure. I'll have to scrub the house top to bottom before any photos are taken anyhow! I'm nervous renting our house out, I hope it all works out, and we get the perfect tenants. I'm hoping to get a few applications to choose from. I wonder if it will work out like that? Did get more than one intersted tenant?

Stacy.

[Fisher1]

I have had a buy to let flat (bought to let out) for five years. The management co takes one months rent a year even when the tenant is staying, just for renewing the lease, also 5% on top of that. Any repairs are organised through them and are always on the high side for cost. Having said that, it means that we don't have to do anything ourselves. During our one void we chose to paint and decorate ourselves to keep costs down, but otherwise it is all organised by the management co. I think it has been worth the high fee (dont forget it's tax deductable) for the peace of mind and lack of hassle as we don't live nearby.

We have let furnished because it is a flat likely to appeal to young single people who are starting out and we felt it would be more attractive if people didnt immediately have to start shopping for furniture. However, there is no financial benefit as rental income is about the same in most places furnished or not. Also if electrical goods are supplied you are supposed to have them serviced between lets - which is a pain. Then there is the cost of replacements.

We have had landlords insurance from the beginning - it has cost about £100 a year and covers malicious damage, non-payment of rent etc.

good luck!

[Fisher1]

PS CLEANING!!!! It really isnt worth 'scrubbing the house from top to bottom' before you let. A good normal clean is enough - because the tenants may well ask for a professional clean before they move in, particularly if it has been empty for a few weeks. I scrubbed our flat to the bone before I handed the keys to the management co and then had to cough up £100 three weeks later for a 'professional' clean. Grrrr.

[PBrady]

Hi PBrady,

When are you heading over, and when did you begin to look for a tenant? I'm not sure how to time it. I have plenty of time as we're not leaving until the 8th October, but it could be pointless starting too early? I'm really not sure. I'll have to scrub the house top to bottom before any photos are taken anyhow! I'm nervous renting our house out, I hope it all works out, and we get the perfect tenants. I'm hoping to get a few applications to choose from. I wonder if it will work out like that? Did get more than one intersted tenant?

Stacy.

Hiya,
My husband is heading over with 2 of our children on 20th Aug and I'm following with 2 younger ones on 18th Sept. ATM the house is like a bomb, we have the packers coming in next Wednesday. I put the house up on daft on Tuesday with just one photo of the outside and description and I have 3 people coming to view it on Sat, I was originally going to ask them to wait until the house is cleared out but then thought better of it and said they could all come at the same time Sat, they know that the house is a bit chaotic but are still happy to see it. I suppose I am really cutting it fine, hopefully we will get a tenant interested on Saturday, if not I will put more pictures up to try and entice more people to view it. I suppose depending on where you are living will determine the demand. We are in Meath, Dunboyne so it is near enough the city centre.