kevsan Posted July 28, 2014 Share Posted July 28, 2014 Hi All, does anyone have any thoughts/experience over what to do with the house in the UK. We plan to rent it out (short - mid term).... but keep swinging from leaving most of our stuff (sofas, beds, dining tabs etc) and rent it furnished (and review when we've been in Oz for a year or so) or shipping the lot and rent it unfurnished.. Not sure what is more appealing to UK renters?? Anybody had any similar experience?? Quote Link to comment Share on other sites More sharing options...
Guest The Pom Queen Posted July 28, 2014 Share Posted July 28, 2014 Tough one. I suppose if you want a more sensible mature couple to rent then they will already have their furniture however a young couple just starting out won't have anything. I've known people leave furniture behind and it has been ruined so I suppose it also depends how valuable the items are. Quote Link to comment Share on other sites More sharing options...
Guest guest90395 Posted July 28, 2014 Share Posted July 28, 2014 I think it depends on your property and the area. We took all our furniture leaving an unfurnished 2 bed flat in the city centre and it took 3 months to let (which is very unusual where we live, our other flat has never been empty for more than a week). Our agents advice was that this type of property is best let furnished, whereas unfurnished 3/4 bed houses in the suburbs can be more desirable for families relocating and renting before they buy. Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted July 28, 2014 Share Posted July 28, 2014 I think it depends on your property and the area. We took all our furniture leaving an unfurnished 2 bed flat in the city centre and it took 3 months to let (which is very unusual where we live, our other flat has never been empty for more than a week). Our agents advice was that this type of property is best let furnished, whereas unfurnished 3/4 bed houses in the suburbs can be more desirable for families relocating and renting before they buy. Agree. I have a family home and was advised by managing agents that it would be much more attractive unfurnished. An inner city place may attract students but I wouldn't hold out much hope for your furniture Quote Link to comment Share on other sites More sharing options...
Pumpkin Posted July 28, 2014 Share Posted July 28, 2014 Agree with others. A family home is best unfurnished. An inner city apartment with a target audience of young professionals, could work well ready furnished. I know my first few places as a young working adult were furnished. Quote Link to comment Share on other sites More sharing options...
noworriesmate Posted July 28, 2014 Share Posted July 28, 2014 Also check out the tax situation - you can claim 10% of your rent as a tax write off for 'wear and tear' if the property is rented furnished, This can be significant depending on the location/rent etc NWM Quote Link to comment Share on other sites More sharing options...
Bristle Posted July 28, 2014 Share Posted July 28, 2014 We decided not to bring a few items and were going to get rid of them so that we could let our family house unfurnished as we didn't want the hassle of having to replace things especially the white goods. Our letting agent said we could put in the contract that these items would not be replaced if damaged or faulty. This meant we could leave the old stuff we were going to replace anyway and not be responsible for repair or replacing if anything went wrong. The guy who rented said this was ideal for him and the family as it gave them a chance save money to buy better things when required. Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted July 28, 2014 Share Posted July 28, 2014 Also check out the tax situation - you can claim 10% of your rent as a tax write off for 'wear and tear' if the property is rented furnished, This can be significant depending on the location/rent etc NWM The 10% wear and tear deduction is allowed in the UK, but doesn't pertain in Australia. Best regards. Quote Link to comment Share on other sites More sharing options...
buzzy--bee Posted July 29, 2014 Share Posted July 29, 2014 The 10% wear and tear deduction is allowed in the UK, but doesn't pertain in Australia. Best regards. But if you live in Australia, and pay tax on your worldwide income in Australia, I believe that you can depreciate your UK property according to the same rules as if it were in Australia. Is this your understanding also Alan? BB Quote Link to comment Share on other sites More sharing options...
Alan Collett Posted July 29, 2014 Share Posted July 29, 2014 But if you live in Australia, and pay tax on your worldwide income in Australia, I believe that you can depreciate your UK property according to the same rules as if it were in Australia. Is this your understanding also Alan? BB Hi BB. Yes, that is correct. See also: http://www.gmtax.com.au/tax-deductions-in-australia-on-uk-rental-property-depreciation-as-a-tax-deduction/ Best regards. Quote Link to comment Share on other sites More sharing options...
kevsan Posted July 29, 2014 Author Share Posted July 29, 2014 Thanks guys, certainly food for thought. Its a family home so seems a no brainer. Guess I am actually looking at excuses to reduce shipping costs and aggravation! Quote Link to comment Share on other sites More sharing options...
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