Question about renting out our Perth property from interstate or overseas

[p0msd0wnunder]

Hi all,

 

Quick question: are there any Perth Poms that have left WA but kept hold of their property in Perth and are renting it out whilst living interstate or overseas? If so, I'd be really interested in having a chat and hearing about your experience.

 

It is something that we have been discussing for a while - in case we decide to leave Perth/ Australia, and one of us really doesn't want to sell up whilst the other anticipates problems managing the property from afar - particularly if we leave the country.

 

Thanks in advance.

[newjez]

I did it for a while many years ago. It was a right pain, but I may have just had a bad agent. Plus, there are lots of empty rentals in Perth right now.

[flag of convenience]

Yes but not for a very long duration, but care is required. An agent will charge a per cent of total. Don't forget hefty tax implications (30%) then water and rates. I prefer now to let someone I know use the property while away, rather than strangers. For long term just look for what passes as a good management property, I suppose and go with it. Just work out if the return is worth the hassle. Are you leaving furniture? If not shipping it overseas or storing it (more expense) and work out return after expenses and peace of mind. Leaving a house empty, of course, brings up a whole other set of issues as well.

[p0msd0wnunder]

Thank you guys

 

An agent will charge a per cent of total. Don't forget hefty tax implications (30%) then water and rates. I prefer now to let someone I know use the property while away, rather than strangers. For long term just look for what passes as a good management property, I suppose and go with it. Just work out if the return is worth the hassle. Are you leaving furniture? If not shipping it overseas or storing it (more expense) and work out return after expenses and peace of mind. Leaving a house empty, of course, brings up a whole other set of issues as well.

 

You raised a couple of things that I hadn't even considered. To be honest, I can't help but think the whole thing will be a complete pain in the arse. My wife, on the other hand, thinks we would be mad to sell the house. Who should we talk to to get a better understanding of costs vs return - a property expert, or would any financial advisor be ok?

 

Thanks again.

[newjez]

Thank you guys

 

 

 

You raised a couple of things that I hadn't even considered. To be honest, I can't help but think the whole thing will be a complete pain in the arse. My wife, on the other hand, thinks we would be mad to sell the house. Who should we talk to to get a better understanding of costs vs return - a property expert, or would any financial advisor be ok?

 

Thanks again.

 

There is a financial advice forum I think.

 

It will depend on how long you are away. Stamp duty etc for sale won't be cheap. Is this a definite temporary move, or a maybe we may return?

 

You also want to ask if holidays to check on the rental would be tax deductible, assuming you may want to pop back to Perth.

 

Lots to consider.

[flag of convenience]

Thank you guys

 

 

 

You raised a couple of things that I hadn't even considered. To be honest, I can't help but think the whole thing will be a complete pain in the arse. My wife, on the other hand, thinks we would be mad to sell the house. Who should we talk to to get a better understanding of costs vs return - a property expert, or would any financial advisor be ok?

 

Thanks again.

 

I tend to shy from so called ' experts'. You need to know market rents and do own deductions. I certainly wouldn't sell though until at least the direction ahead is clear. Just remember a 30% impost is considerable.