5 Tips When Renting Out Your Property from Overseas

5 Tips When Renting Out Your Property from Overseas

Cutting ties, setting sail and making the move abroad is a huge life decision – and one many people will be envious of you for making.

However, although it conjures up picturesque mental images of sun, sand and surf, the reality can be much more daunting.

Sadly, preparing to move abroad isn’t as easy as you may think, and figuring out what to do with your property when the time comes is one of the trickiest decisions.

Don’t worry, though. As long as you prepare effectively, there’s nothing stopping you from renting out your home whilst abroad and supplementing your income. Read on to find out more.

1) Keep Valuables Secure

If you’re going to rent out your property, you need to be prepared for wear and tear. It’s unavoidable, so choose strong, durable items for your home that are likely to last a long time.

If you offer a furnished property, you’re solely responsible for the upkeep of furniture and appliances contained within. Whilst this might be a hassle when you’re living down the road, it can be an expensive problem if you’re overseas. So, if you opt for furnished, make sure your goods are built to last.

2) Handle Any Faults Before You Go

Small issues can quickly turn into big problems. So, if you’ve got a leaky cistern, you should tackle it before it turns into a widespread damp or mould problem.

Call-out fees will cost you a fortune, so it’s well worth paying the upfront cost for getting a professional to come over and inspect your property. Fatal faults can often be easy to miss, so a full inspection will prevent you from being caught by surprise.

3) Make Sure Your Paint is Washable

The last thing you want when a tenant vacates (or if you move back in) is to find the walls of your property covered in black scuff marks from where they’ve moved in and out.

Sadly, it’s likely going to happen. So, to save yourself the time and money of repainting each time you change tenants, invest in washable paint. With this, a damp cloth will remove any marks on the wall, meaning your home will stay in top condition for longer.

4) Find A High-Quality Tenant

Don’t take the first applicant through the door – in order to give you security and peace of mind, you need to focus on finding the right tenant for your home.

First impressions count, so if you find an applicant to be friendly and responsive to messages, this isn’t something you should ignore. Get references from previous landlords and combine this with your gut instinct to find the best tenant for your property.

5) Spend Extra On Insurance

We mentioned peace of mind and security above. How much is that worth to you? Paying a little extra for landlords insurance is always worth it, as it’ll help to cover the difference if your property gets damaged or you miss out on rent.

A broken dishwasher or flooded bathroom can cost you thousands, so “better safe than sorry” is always the best policy to keep.

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