Guest Currawong

Returning to the UK but renting out a house in Adelaide

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    Guest Currawong

    Hi there,

     

    After many years in Adelaide I am preparing to return to the UK for the next stage of the adventure we call life. There is a chance that I may decide to move back to Adelaide sometime in the future (could be decades away), so instead of selling my house here I am considering renting it out from overseas. This way my Australian house will continue to increase in value while someone else pays the mortgage for me, and I'll have somewhere to live if and when I come back; and of course I can always sell it if need be.

     

    Has anyone else followed a plan like this? If so, do you have any comments on the process or the outcome? Can anyone recommend, preferably from personal experience, a really good letting agent in Adelaide that can sensibly manage a rental property for an overseas owner?

     

    Many thanks,

     

    Currawong

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    I deal with Turners real estate in the city and the guy I deal with has quite a few overseas owners pm me if you want his details.

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    Guest Currawong

    Thank you Ian.

     

    I'm also hoping to hear from people who have carried out this plan, and how it worked/is working out for them.

     

    ​Currawong

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    We have a house in Hahndorf that we rent out whilst living in the UK. Our agent and insurers are wonderful, a neighbours tree fell on the roof last year and they got together and sorted it out immediately. By the time I had got the message all was in hand and the tenants were still a bit shaken (they were asleep at the time) but happy with the service provided. The communication is mainly via e-mail and I am very happy with the service.

     

    Not sure where you are though, our Agent is based in Balhannah and the insurance agent in Mount Barker. You may need somewhere nearer.

     

    Practically you will need to submit an Aus and UK tax return, pay tax in Oz and then deduct this from tax owed in the UK. It is complicated as allowances for expenses on rentals are different in the UK and Oz. After a few years with an Oz accountant and a UK one we now have just one qualified in both countries, much cheaper and more efficient! Go Matilda tax.

     

    We maintain an Oz bank account to help with payments and manage it on-line from the UK.

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