Expat landlords advised to use professional residential lettings agents
Those looking to rent out their properties while abroad have been advised to use the services of professional residential lettings agents.
Thousands of people emigrating from the UK each year, often for only a temporary period, and many want to hang on to their property so they have somewhere to live when they return home.
As such, renting out their UK home is an excellent opportunity to keep the property maintained while also making some additional income, says the Association of Residential Letting Agents (ARLA).
However, there are a number of things to consider before entering the private rented market, advises the industry body.
In particular, potential landlords should seek the help of a professional residential lettings agent as they can help them find a suitable tenant, while also managing the property while the owner is abroad.
"Remember that, even if you're an experienced landlord, it can be more difficult to respond to your tenants' needs while you're on the other side of an ocean," says ARLA.
"Not all agents are the same though - licensed ARLA members are regulated, meaning you have access to Client Money Protection and a redress scheme, as well as the latest best practice advice," it advises.
Other tips include making sure that the property is decorated to a good standard in order to attract tenants and to take out adequate contents and building insurance to protect the property from potential damage.
"Many people who work or retire to another country choose to let their UK property to tenants," said Ian Potter, operations manager at ARLA.
"This is a smart move for many reasons, but as ever it is important to ensure that everything is done correctly. The last thing a family needs before or shortly after an international move is more stress.
"Using a professional letting agent and following our advice above should make sure anyone about to embark on a new life overseas can be safe in the knowledge that their UK property is in good hands."
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