Let me tell you the story of my colleague. He sister had migrated to the US and left her with a big house. What my colleague did was to have her house up for rent and she moved to the house of her sister. Her reason - if her sister's house would be rented out then the rent goes to her sister. And if she is to live in her sister's house, her sister would even be grateful. As a result, my colleague is living in a bigger house and earning rent money as well. Very clever, huh.
Is your colleague's sister alright with this arrangement?...if they both agreed on that kind of arrangement, I don't see any squabbles arising...the problem would only occur if that wasn't what the sister wanted. When it comes to relatives...on my part, I tread very carefully and cunningly We are living in a time when trust is passed down a paper shredder!
I guess it is just fine with my colleague's sister because the reason is that my colleague would be taking care of what's inside the house. It was supposed to be rented out furnished including everything like picture frames, etc. Like you, we would trust other people than our relatives. We have had so many sad experiences with our relatives who would abuse us for any opportunity they get. It's sad to recall those days when we had no housemaid and had to summon help from relatives to watch over our house when we go on trips.
Owning rental property overseas seems far too problematic to me. I like my properties to be within easy reach, so I can visit at short notice if needed. Then, there's all the things like annual checks, end of tenancy inventories and the retuning of keys and deposits to consider. All this is much easier if you only have to drive 5 minutes down the road.
I fully agree to that. When I retire and buy a lot for my dream apartment, that would definitely be in the vicinity where I live. But sometimes you cannot help it if you had a property and you had to move. My nephew who was in Hongkong thought he would be coming home for good that's why he bought some properties here. But when his working visa was extended (and now he is a permanenent resident of Hongkong) then he had to find someone to manage his property here that he is renting out.
