I have a small dilema, I am about to rent my house as I will be overseas for a while and I have 2 options.
1. Rent to a friend + girlfriend for £550 pm and I will leave all my furnishings in the house together with my 40" tv etc, this saves me putting stuff in storage and as I know him very well as a best friend, i could trust him. He would be getting a great bargain and i would have peace of mind.
2. Rent through agency I will get an agent round, but I think i could get £650-700pm as it is now a 3 bed house where I converted a double garage into a living room. After 10% fees taken off the rent I would be left with £585-630. as you can see I would gain an extra £35-90pm more.
I know there a pro's and cons in both and some people say it is always better to rent to friends, if i did rent to my friend then i would do it properly with contracts, solicitor holding the deposit etc.
What are your opinions?
ps: my plan is to relax on a greek island living off the rent.