Would appreciate any other ideas
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Hello Daisy, you had some specific quesitions on renting.
I don't recommend an agent, they are costly and useless.
You should set up a current account for the rent to go into, from that all bills including mortgage should be paid. It can be a joint account, but I assume only one of you will manage it. Rent can be paid in directly by DD or else lodged monthly. Deposit can also be lodged here, but don't dip into the deposit.
For other ideas, not sure yet as you haven't told us any real details. Mortgage, arrears, amount of full repayment, term, amount of interest only, what is bank going to do about arrears, your income, who can subsidise the property, the negative equity (NE). I want to work out whether renting it or handing it back is a better idea.
Would also like you to list the rent amount, the expenses you anticipate so we can calculate a vague idea of tax. 200 Euro rent over mortgage amount might seem a lot, but if you're paying low interest, and are a higher rate taxpayer it might be not worthwhile.
And will your ex really go along with this.
Answer on when to sell, I'd say, based on your history, the minute you're out of NE.