Question: Selling or letting house for a year? I'm considering working abroad for a year. As a homeowner what are the pros and cons of either selling the house or renting it out?\n\nRegarding the option of renting are there agencies that can take care of absolutely everything for a cut of the rent? I don't want to be travelling halfway around the planet to find a tennant or sort out a leaky tap!

Answer: I would find a good agent and let the agent handle all tenant issues and handle fixing of the house.\nIf you sell and come home, you will have to start over. If you keep your home you have another year's equity and the tenant has paid your payments. Also you might have a nice little profit.\nThe cons? Unless you have a supervising agent who knows how much to collect as far as deposits and to check references, you may get tenants that move out not paying, or may damage the property. Those would be the most important concerns. \nFinally, a compromise: I knew people who have traveled for six months at a time. During each period two mates lived in. If you know people who are willing to keep up with small repairs and pay the payments, then you can have at least a bit of your cake and eat it as well. That would be my first choice. Because they would be paying only the payments you would not have to declair any as taxes. A nice little arrangement.
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