The council will not automatically accept your house for lease.
The council will not automatically accept your house for lease. .......
Moved from which is where this type of question is discussed on AAM.
aj
mod
This the the leasing I am interested in, is this the same as what your sister entered into because the minimum leasing period is 10 years?:
Similar tender, but not 10 years only 3, plus maintenance claus saying owner was responsible for maintenance, think it was a % of repairs though. Which Co. Council - hers was through Fingal Co Council - rules may differ slightly with different councils. The agreement you have posted sounds ideal in principle. The consent from your mortgage company might be a problem for you, but you should have a copy of the original mortgage contract, if not your solicitor will. It will be written on this contract somewhere if you can lease your property with or without permission. If you do not need permission, a certified copy of your mortgage contract with this highlighted is sufficent for council. Good luck with this, it sounds like a really good plan, hope it works out in your favour!
The best way to approach it might be to tell them that you are likely to head into arrears in the coming months but that you see a solution (the one you propose).
I don't get why the council need the lendor's consent? They don't own the house and have no say in what you do with the house.
OP there are some other posts on here about renting to the council and it was not all plain sailing.
With your banks consent they could let you sell in negative equity. Would that be a better option for you?
Don't forget you will have tax liabilities also
Tax will need to be paid on any profit made from letting.
Just remember that just because the the rent is not covering the mortgage does not mean you wont have to pay tax.
At the moment you can only write off the interest repayments (plus some expenses) against the tax but not the capital repayments.
Ms2011 you might be better off, if you look at other threads you will see that renting actually costs a lot of money in taxes etc.
You can still always go down the route of renting yourself but before you do this you should learn more about it.
If you lose your job can you stay in the house and the government will help you with your mortgage. Where were you planning to move to if you had rented the house?
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