Renting my house out

Question

I'm currently 12 months into a 2 year mortgage, however my job may soon take me away across the country. Now, I don't want to sell the property, as in the current climate I'd make a severe loss. But what is the best way to go about renting my house out while I'm not here? Who is best to speak to?

Answer 1

Go through an Real Estate Agent!

My friends tried to rent a house themselves and they ended up with a squatter!  The next time they went through and agent and had a lawyer write up the lease- little more money but compared to all the money they lost the first time- it was well worth it.

Answer 2

go  and  talk  to  a  letting  agency.  they  wi;;  be  able  to  let  ur  property  out  just  like  that.

Answer 3

Are you sure it's a two year mortgage? If so, the property must be incredibly cheap, or you're minted and this is this is a minor nuisance. In any case, have you considered visiting local letting agents/property management companies to see what they offer? This would most likely be the ideal solution to your problem, as they will handle everything for you - from finding a tenant to collecting and paying rent.

Answer 4

You need to talk to a local Estate Agent who specialises in Lettings. They will be able to talk you through the procedure for getting tenants, their fees and what they do to earn them, what you will need to do to your house to make it more rentable and get good tenants in. The agent should be able to put you in touch with a financial adviser who can take you through the different mortgages (you will currently be on a residential mortgage, you will need a buy-to-let mortgage).

There is a lot to think about, but first things first, go to a local estate agent whom you can trust and get their advice.

Best of luck!

Answer 5

Hi Bostin, Just be care-full who you rent your home out to,

I rented my home out to some students (a while back) and they completely trashed the house before they left it. It cost me £20,000 in repairs.

I chalked it down as lesson leaned.

Good luck whatever you decide.