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When writing a blog on renting out your property I must admit that I felt an immediate sense of dread. But why?
The mere thought of renting out my own property fills me with abject terror. I couldn’t bear the thought of people living among my things and a) will they like my taste? And b) are going to ruin things that I have taken great care in choosing for my home and which I have enjoyed and cherished?
However, there are circumstances such as relocating to another property, not being able to sell the property at the right price, or needing the rental income to subsidise an elderly parent’s care when you may mean you might just have to rent your property…
However, this is not a blog just about renting your own personal property but a blog about what the benefits of renting properties out are. I have had to pull myself together and my first bit of advice to any would-be Landlord thinking about renting their own property out is to forget that the property was ever once your home.
I remember reading an article years ago about a tv presenter who had gone to Los Angeles and had rented his house out for 10 years and when he returned he immediately had the house renovated so that he felt that he was moving into a brand-new house. This is definitely a course of action that I would endorse.
So, having considered that you may want to rent your property out, what are the benefits.
With these three benefits, my “abject fear” of renting out my property is diluted and I feel that as long as you have the right agent looking after this for you then this is definitely the option for you. Particularly if you are looking to realise the value of your home at a later date.
If you would like some more advice on renting out your property and planning for the future please contact MIH who would be happy to assist you.