Hi Anchor,
I wouldn't sell the house.... yet. Whilst house prices have gone down drastically over the last couple of years, the price of rent hasn't gone down too much.
There are professional housing adminstrators that can manage your property whilst you are away. They charge around 5% of the price of the rent each week / month / renting period which isn't too bad.
Also you will have piece of mind as these companies also have a legal department which they use at no extra cost to the contractor, in case of defaulting tenants.
You can sell a house only once, but you can rent a house and have an income for years and years and years especially if South Africa is cheaper to live than where he was in Europe (I don't know how the Euro is facing up against the Rand these days). Also if he decided to return to Europe, he would have a house waiting for him.
Best regards,
Steve
Quote:
Originally Posted by Anchor
Good move!
Maybe reconsider what you do with your house - it seems to me there is a strong case for selling it while you can and the Euro is still working. Managing a rental from SA isnt going to be easy, even if you can find someone trusting to proxy for you.
A..
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