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Subject: Renting the family home
  
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HappyWanderer
Posts:3

19 Sep 2009 12:44 p.m. Alert 
We would like your opinions on what to do when you are on the "big trip" with your family home.

We plan to be away for a few years and thought about renting out the house. Are there any do's and don'ts that we should be aware of?

Looking forward to your replies, Happy Wanderer
ozjohn0
Posts:120

20 Sep 2009 11:23 a.m. Alert 
The upside is you'll have a steady income from the rent and your outgoings like Rates and insurance etc will be covered. The house will be occupied and therefore not subject to cancellation of insurance cover nor left to vandals and squatters.
With the right agent & tenants it'll also be maintained in a reasonable condition.
On the downside you'll have to notify the insurance company that you're renting out the house and probably pay an additional premium. Also in the event that you get sick or have an accident etc, you won't have a home to return to until the lease has expired.
If renting to family member you can at least return and share the house until they find another to rent.
Which ever way you decide to go, good luck and enjoy your travels.
Cheers. ozjohn
cannylass
Posts:19

23 Jan 2010 11:21 a.m. Alert 
On Our travels we meet quite a few folks who were traveling, for two, to three years, and had rented there homes out to family members only
Ratbags
Posts:9

24 Jan 2010 5:37 p.m. Alert 
We sold everything we owned over 2 years ago and started caravanning with our 7 year old daughter. We have never been happier, we thought we might do this for a while but we all love it so much that it is now our life plan. We home school our daughter so we have no restrictions on what we do. We just work when we can and enjoy life. No stress. Happy Days!

We have meet a lot of people that have rented out their homes and they are constantly worried about them or having to fly back to sort out issues. So think very carefully. Renting to someone you know and trust could be a lot easier.

Good luck.
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Forums > General Discussion > Your Say > Renting the family home




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