Chris Gordon Posted April 13, 2023 Author Share Posted April 13, 2023 We are 3 weeks away from going back to the UK for our 6 month trip and most things are falling into place. Globally and financially I think it's the worse possible time to be doing this but we're committed now. My only concern left now if renting our house out in Coffs Harbour for 6 months. I feel for the $20k it would net us it is not worth the potential down side for vandalism and Tennant's not leaving at the end of the say. Bad Tennant's could quickly rack up $20k worth of damage. I'd rather receive the 20k in rent but because it's out family home and we plan to return to it we may just be best biting the bullet and getting a house sitter in. Anyone done anything similar or has any advice for us? Thanks Quote Link to comment Share on other sites More sharing options...
Toots Posted April 13, 2023 Share Posted April 13, 2023 59 minutes ago, Chris Gordon said: We are 3 weeks away from going back to the UK for our 6 month trip and most things are falling into place. Globally and financially I think it's the worse possible time to be doing this but we're committed now. My only concern left now if renting our house out in Coffs Harbour for 6 months. I feel for the $20k it would net us it is not worth the potential down side for vandalism and Tennant's not leaving at the end of the say. Bad Tennant's could quickly rack up $20k worth of damage. I'd rather receive the 20k in rent but because it's out family home and we plan to return to it we may just be best biting the bullet and getting a house sitter in. Anyone done anything similar or has any advice for us? Thanks A couple who live in our street have gone back to Germany for 6 months. They haven't rented out their house for much the same reasons you have given. They felt a bit guilty as there is a shortage of rentals here but for 6 months it wasn't worth the hassle. All the neighbours keep an eye on the place. A mowing man keeps the lawn neat and the rest of the garden tidy. Quote Link to comment Share on other sites More sharing options...
Melbpom Posted April 13, 2023 Share Posted April 13, 2023 9 hours ago, Chris Gordon said: We are 3 weeks away from going back to the UK for our 6 month trip and most things are falling into place. Globally and financially I think it's the worse possible time to be doing this but we're committed now. My only concern left now if renting our house out in Coffs Harbour for 6 months. I feel for the $20k it would net us it is not worth the potential down side for vandalism and Tennant's not leaving at the end of the say. Bad Tennant's could quickly rack up $20k worth of damage. I'd rather receive the 20k in rent but because it's out family home and we plan to return to it we may just be best biting the bullet and getting a house sitter in. Anyone done anything similar or has any advice for us? Thanks I'd be cautious about the tax implications of renting your house out e.g. capital gains. Quote Link to comment Share on other sites More sharing options...
Tulip1 Posted April 13, 2023 Share Posted April 13, 2023 Check your home insurance. You can’t usually leave your house empty for months. You can get a short term empty house add on but they’re usually on condition that the house is checked over once a week. Also, if renting it your home insurance is likely to be invalid. You’ll need to get landlord insurance, again speak to your insurers. If you have a mortgage, make sure you get permission from them if you decide to rent it out. Quote Link to comment Share on other sites More sharing options...
Chris Gordon Posted April 14, 2023 Author Share Posted April 14, 2023 Thanks for the comments. We've actually just heard from a friend at the rugby club who needs a new rental so its going to work out perfectly, I love how the universe sorts these things out sometimes. We've updated our insurance to landlord insurance so that's all sorted. In regards to capital gains tax there is an exemption on this if you rent out you primary place of residence for up to 6 years so no problems on this front. I feel a lot more relieved now and am looking forward to an epic trip home. I do wonder what's its going to be like in the UK at the moment. It doesn't seem the best place to be. 1 Quote Link to comment Share on other sites More sharing options...
Chortlepuss Posted April 14, 2023 Share Posted April 14, 2023 We have come to the UK for 6 months and rented out our house in Brisbane to a lovely family via Sabbatical Homes - people on this site need short stays as they are only temporarily in the country. We did appoint a managing agent and change insurance, smoke alarms, other regs. We now have the same problem with our UK house. We came back to sell it but it hasn’t sold so need to rent for 9 months or so. Rentals in our area are like rocking horse poo. The UK govt are making it very hard to evict problem tenants. I feel tempted to use a house sitter and just write off the potential income. Quote Link to comment Share on other sites More sharing options...
ramot Posted April 14, 2023 Share Posted April 14, 2023 2 hours ago, Chortlepuss said: We have come to the UK for 6 months and rented out our house in Brisbane to a lovely family via Sabbatical Homes - people on this site need short stays as they are only temporarily in the country. We did appoint a managing agent and change insurance, smoke alarms, other regs. We now have the same problem with our UK house. We came back to sell it but it hasn’t sold so need to rent for 9 months or so. Rentals in our area are like rocking horse poo. The UK govt are making it very hard to evict problem tenants. I feel tempted to use a house sitter and just write off the potential income. I know you hear of nightmare tenants, but we have rented UK properties for 25 years plus, from overseas, as have most expats we know, and never had a problem. We have used different agents as our properties aren’t in the same place, they are in charge of everything, and as mentioned never had a problem. Good luck with whatever you decide 1 Quote Link to comment Share on other sites More sharing options...
Parley Posted April 14, 2023 Share Posted April 14, 2023 20 hours ago, Melbpom said: I'd be cautious about the tax implications of renting your house out e.g. capital gains. It is not an issue short term. You can rent it out for 6 years as long as you end up living back in it as your main residence later. No capital gains will apply. 1 Quote Link to comment Share on other sites More sharing options...
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