Who oversees when I'm overseas?

Our lawyer Katharine Marshall explains the potential responsibilities of a managing agent who is looking after the property of a landlord who lives abroad
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© Merrily Harpur (harpur.org)
Question: I am moving overseas for two years with work and wish to rent out my property during that time. What do I need to do with regards to mortgages, insurance etc? Can a managing agent sort out all of this for me?

Answer: You can indeed choose to employ a managing agent to look after your property for you during the time you are away. The managing agent’s responsibilities will depend on the extent of the terms of your contract with them. You will be required to pay the managing agent a fee.

With regards to your mortgage, you will probably need to notify your mortgage lender and in most circumstances their prior written consent will be required before the letting is concluded. Therefore you should check the terms of your mortgage as this will tell you what you need to do.

Presuming you own the freehold, you will need to make sure your insurance policy covers renting out the property. There are specific landlord insurance products on the market which you could consider.

What's your problem?

If you have a question for Katharine Marshall please email legalsolutions@standard.co.uk, or write to: Legal Solutions, Homes & Property, Evening Standard, 2 Derry Street, London W8 5EE.

We regret that questions cannot be answered individually but we will try to feature them here.

Katharine is a solicitor and director at Pitmans Solicitors (www.pitmans.com).

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