Canada - British Expat Forum

Hello,
I would like some advice from those who know how it feels - so having used this site so often for answers I thought I would ask this...

Our house is up for sale, we have interest however those interested have not sold so it seems all has ground to a halt.

Our original option was for me (wife) to go and start new job in Ca with hubbie staying until we sell it.
It is clear from all that lovely supportive media that the market is not great.

So our dilema is should we put it up for rent and both of us come to Canada?

Now I know to ask a whole bunch of people I don't know this rather personal question may be mad - but I just think you all know how we feel...

We don't want to rent (hassle and worry over who is in) but I don't want to spend the next 6months plus starting a new life in Canada alone!
He worries about money and getting a job (open work permit) and also like me the hassle of renting but doesn't really want to stay behind yet thinks financially it is the best option - short term pain for long term gain and all that!

I promise you we don't need marriage guidance!! More advice about starting abroad together versus separately and also about the housing side.

Thank you for reading a rather personal dilema. Advice or questions for us to consider would be so appreciated!
We await your thoughts!!

Helen and Ian

If it's not selling, I would try to rent it. Use a reputable agency, who will take a commission of probably 10 -12% to provide a service allowing you not to have to worry too much.

Renting it out will provide you with a bit of income in addition particularly if you have a mortgage on your uk house.

s

Hey Sawman,
Ta for reply. The company is the one we are selling with as they specialise in overseas landlords - plus if we want to swap between renting and buying we can.
Mortgage is very low as paid off a lump sum so we'd make a profit each month. Hubbie worried how quickly he'd find a job.

I have also been reading about taxes that we'd have to pay in Uk and Ca!

Thanks again!

Helen

I think using the same company for sale or rental is a good one, that way there is something in for them which ever way the house goes. Although it might not hurt to talk to another letting agent so that theres a bit of competition - just for the devilment!

The letting agent can probably deal with the tax for you also, esp if they have expertise in dealing with overseas landlords.

s

Quote:

If it's not selling, I would try to rent it. Use a reputable agency, who will take a commission of probably 10 -12% to provide a service allowing you not to have to worry too much.

Please be very careful if you do this. We made a lot of mistakes but we told our story so others might learn from them. This is the story of our nightmare year:

http://www.trashedhouse.com

The website was featured in The Guardian too:

http://technology.guardian.co.uk/businesssense/story/0,,1998634,00.html

I'm not saying, "Don't rent it out". I'm just saying that you should be very careful. Remove anything of value and put it into storage, and be prepared to replace carpets and make repairs before you do try to sell. You may well be more able to avoid or minimise the problems if you are forewarned.

Good luck!

[quote="Kay"]

Quote:

l I'm not saying, "Don't rent it out". I'm just saying that you should be very careful. Remove anything of value and put it into storage, and be prepared to replace carpets and make repairs before you do try to sell. You may well be more able to avoid or minimise the problems if you are forewarned. Good luck!

I am not being funny or anything, but I would have thought these points would be obvious when renting something out.

I have been renting properties out for 5 years or so and never had any problems using a reputable agency, with the appropriate legal framework to help protect both tenant & landlord.

s

It was the first time we'd rented out our home (and most likely the last). The family appeared to be pleasant, and we were pleased to be helping them - as the rental income would help us too of course. We used a reputable lettings agent. I'm not sure what else we could've done.

We were pleased with how things were shaping up and even added some nice little extras for the tenant to enjoy.

Then we were well and truly shafted.

Did you read our story on TrashedHouse? I think you'll find that we did use a reputable agent and we operated within the appropriate legal framework at all times.

If your tenant decides not to leave, it's not easy to get rid of them. It's all very well saying upfront no DSS people, but if their circumstances change there's bu99er all you can do about it.

Professional landlords know what they're about. "Accidental landlords", ie people who are pushed into renting out their homes for whatever reason are different. We made the mistake of trusting the family and had most of our stuff nicked or destroyed. To add insult to injury, one of the so-called reputable agent's staff told us he didn't even know the place had been furnished.

You're lucky if you've had no problems. I'm just saying to be aware of what might and can happen.

PS: They even stole the dimmer switches off the walls.

Kay and Sawman,

Blimey - what a story - I have just read it on the website you gave.
We do like to think we have done our research and asked so many questions to the potential letting agent. We have the addition of families living just streets away who could potentially chat to our neighbours and keep a watchful (but discreet) eye on things if needed.
We have also been reading about the legal side and the what to do if side too so alot of your website information was thankfully familiar.
We currently have our house up for sale with the firm that does letting and so have met the team and know most of them. We have also been researching through other properties that have them as an agent and finding out if what they promise will happen - actually happens! I know that is not proof...

I don't know what to say really! I am sure in every story there is always someone who is very unlucky. I guess we need to weigh up the odds of it happening to us. I think the whole move to Canada is one big risk and if we really thought about everything that could go wrong we wouldn't do it! All we can do is try to read around everything and be as prepared as we can be and try to ensure we know fully what we are getting into and that we minimize the risks.
I am hoping the spending of hours and hours reading every little detail about everything will help in the long run (a sad and occupational hazzard or I could just be a control freak I am not sure!).

Thank you both for your comments and advice. We will continue to proceed with caution and give it some more thought. First we need the Embassy to say yes to our work permits then we can decide on our course of action.

Now all I have to do is try to sleep without thinking about this too much!

Nite nite

Helen

Hi Helen - We are thinking of doing the same as you, renting our current home until the market is bouyant again in the UK (although we are going on PR Visa) . Like sawman I have been renting out another home I have in the UK since 2001 and,touch wood, have had no problems with renters. I drew up my own contract for the house and don't use a rental agent anymore (although I did in the beginning). I read Kay's posts about nightmare renters and what I will do before emigrating is give both houses to a rental agent and let them deal with everything as the distance time frame will be too much aggro to deal with from afar.

Just be very careful whom you rent out to. Try and meet them beforehand,get references and state that you don't want certain things if you are worried i.e no children,dogs,DSS, smoking in the house etc. I allow small animals as I am a responsible do owner so don't mind pets in my house. I t is a lottery though but if it works it can be a real help towards paying another mortgage.

Best wishes,
Nicky

Thanks Nicky for your words of wisdom. If we do decide to rent, it would be nice to vet the folk before we go if we can. I understand the agent asks for references and ££ checks including a current employer. I hadn't gone as far as stipulating about pets etc but that is good food for thought. Can you say no kids!!!? - now there is a thought!! - okay so not practical for a 4 bedroomed large house as most renting potential will be families...
We certainly are mindful of who to rent to and want thorough checking done by the agent. I also want to ask more about checks they do as they do one half way - but I would like one after the first month as well as half way too.
Thank you again for adding into the pot - this decision seems harder than the one to move!!!

Kind regards,

Helen

Hi Helen - Yes.... you can so NO kids! but as you say a four bedroomed house would be attractive to a family that wishes to rent. I allow children (I have one myself - although at 18 she's no longer writing on walls and placing sticky fingers over my french windows!) but allow me to share a request that I got from an advert I placed may years ago. A women called me and asked to meet to view my house that I was renting as she said it sounded perfect for her (four beds/double garage/large gardens backing onto conservation area). I asked her for more info about herself and situation before meeting her and she was quite up front - Single, five kids, 2 dogs - German shepherd and a Great Dane....I asked her if she was having a laugh and I thought I was being set up and looked around for the cameras!
Try the words on your advert: children and animals with discretion

Regards,
Nicky