Is there any way to Rent Probate Properties in the United Kingdom?

It is not uncommon for properties of deceased owners to be in local newspapers or online rental portal listings. However, the question lies in who rents them – the heir, beneficiaries, or the executor? There might be controversies surrounding the executor. Canexecutors actually rent out a deceased person’s estate? The answer is not as straightforward as anyone would think. There must be specific due protocols followed, otherwise legal consequences will ensue.

The rental process for a dead person’s property depends on the person’s Will before death and the statute law governing such circumstances. If representatives of the estate do not have authority based on those factors, they would have to rely on the beneficiary’s legal consent, which is in the form of an agreement.

In some cases, an executor is entitled to make the decision to rent the probate property during the probate process rather than leaving it empty. This can be a good option if the deceased’s estate is large and complex if the will is being contested or to give the beneficiaries time to decide what they want to do with the property.

As well as having someone living in the property which reduces the chance of the property falling into disrepair, the incoming rental from the tenant can help to pay for the probate process, any monthly mortgage commitments (if applicable), maintenance and repair costs on the property, as well as going towards the taxes to be paid. However, it must be remembered that income tax will also be applicable on the rental income earned.

This means that the executors or administrators of the estate become ‘accidental landlords' and, therefore, will need to adhere to the legal obligations of a landlord in respect of the probate property. 

To prevent legal actions executors should consider the following:

·        Discuss potential decisions with the beneficiary and receive permission before executing them.

·        Weigh up several options to select the best fit for a property, including lease and sales.

·        Find out which tenancy arrangement offers the best deal.

·        Map out the rental duration.

·        Carry out a feasibility evaluation of becoming a landlord.

·        Analyse the merits and demerits of hiring a management agent.

·        Seek professional counsel before taking in tenants.

·        Have excellent records of property management.

 

It is more desirable to have a tenant in situ in the property during the probate process than leaving the property vacant. The rents from a tenant can contribute towards any monthly mortgage payment, standing charges on utility bills, building repairs and maintenance costs. Also, any surplus rental revenue can help pay towards any probate legal costs.