Leasing your house when on leave

Press, 15 November 1977, Page 16

Leasing your house when on leave

Many home owners find it convenient to let or lease their houses when absent on holiday. This is a practice which has some advantages over leaving the premises empty, both for short and extended terms. The rent collected during their absence helps towards the expenses of the owners and also gives security against “squatters” and possible damage sometimes associated with empty houses. Owners going abroad for several months often favour a lease for the approximate period of their absence. A real estate agent j specialising in letting and i leasing would advise on the type of agreement to i be made between the ' owner and tenant and the ■ amount of the rental. The agent could also suggest terms for keeping the building, furnishings and grounds in good order. Provision would also be made for the tenlant to meet power and water charges as well as the telephone bill. It might be wise, during

the owner’s absence, to have the telephone listed in the name of the occupier if the period is long enough to warrant this. That would place the payment of the telephone and 101 l calls straight on to the occupant. A managing agent would take the responsibility of inspecting the

house at intervals and to see to the collection of the rent, if desired. The owner may also give the agent power to attend to any necessary maintenance and ensure that rates, insurance premiums and mortgage dues (if any) are paid by the required dates. Unless the owner knows of a tenant in whom he has complete faith the selection of a tenant may

well be left to the agent, who is aware of what credentials to look for. Before the owner leaves on holiday, he should make an inventory of the contents for checking on return and perhaps increase the comprehensive insurance cover. The agent. should also be given the name and address of a relative or close friend who knows the house well and who could be prepared to act if something should arise outside the scope of the agreement between the owner and the agent. This would be valuable in the event of a change of tenant and checking of the contents of the house. For brief periods, such as in the case of normal annual vacations, much the same procedure as outlined could also be adopted. Charges paid by the owner for the agent’s services are in accordance with a schedule approved by the Real Estate Institute. These vary according to the type of duty involved and also the length of the lease or tenancy.