I am currently in a slightly similar situation (bought flat 1.5 years ago, was laid off, decided to leave country, if I sell I will incur fines from bank/loss vs purchase price)… I decided to rent the home until I could sell it and ‘break even’ hopefully in 2 years. I set the rent at as close to what I have to pay the bank+insurance+small amount (<100€) for impending repairs. This was under market (I did not actually research the market) as I received a lot of interest and comments when I posted it. I met about a dozen potential tenants in person. I let them know that I did not want to be a landlord and that I would be selling the place as soon as I could break even but that I would be the best landlord I could be regarding the living situation in the flat. I rent to a woman who seems happy with the arrangement. I hate being a landlord but I also don’t want to suffer more financial hardship after being laid off and leaving country. I figure I am at least helping someone to live in a decent place for a ‘fair’ price that would be hard to come by otherwise… Further, not making actual cash profit makes me feel a bit better. But I am creating equity in the property as I pay down the principal ever-so-slowly using this woman’s rent money… I don’t feel good about it on the whole and will be happy to be rid of it.
I am currently in a slightly similar situation (bought flat 1.5 years ago, was laid off, decided to leave country, if I sell I will incur fines from bank/loss vs purchase price)… I decided to rent the home until I could sell it and ‘break even’ hopefully in 2 years. I set the rent at as close to what I have to pay the bank+insurance+small amount (<100€) for impending repairs. This was under market (I did not actually research the market) as I received a lot of interest and comments when I posted it. I met about a dozen potential tenants in person. I let them know that I did not want to be a landlord and that I would be selling the place as soon as I could break even but that I would be the best landlord I could be regarding the living situation in the flat. I rent to a woman who seems happy with the arrangement. I hate being a landlord but I also don’t want to suffer more financial hardship after being laid off and leaving country. I figure I am at least helping someone to live in a decent place for a ‘fair’ price that would be hard to come by otherwise… Further, not making actual cash profit makes me feel a bit better. But I am creating equity in the property as I pay down the principal ever-so-slowly using this woman’s rent money… I don’t feel good about it on the whole and will be happy to be rid of it.