The rent or sell debate is a pretty controversial topic with no simple answer, but we want to put an end to the ever-present myth that selling is always better than renting out a property.
People rent out properties for a whole host of reasons, from being financial able to rent out a second home to working away in location that just isn’t a viable daily commute. Renting out your Leicester home doesn’t mean you are throwing away money in the same way that selling a home isn’t always the right decision at certain times in your life. So, we’ve come up with 4 reasons why renting your Leicester home might just be the better option for you.
A fixed rental income can be a big bonus to many property owners, especially on top of a regular salary or income. An additional income from renting out your property can be put towards a savings fund, future investment or simply to boost your monthly income.
Typically, you agree a fixed lease term or minimum contract with the tenant, meaning that you have a fixed rent income guaranteed for the agreed period of time or even longer, dependant on how long the tenant wants to live there.
Choosing not to sell your Leicester home, at least for the moment, opens up other possibilities for saving and investing. Having the ability to choose exactly how you invest your money and where can really work in your favour. After all, with cost of Leicester properties constantly on the rise, your rental investment could really be financially successful in a few years’ time.
Values are increasing so by renting out your house, the tenant pays down your mortgage balance while at the same time values increase. Between every tenant and lease term, we can help you re-evaluate values and determine whether now is the time to sell.
You have the option of either managing the let yourself, or use a managing agent to work on your behalf. A management agent can take care of every aspect of the letting process, from vetting potential tenants to collecting rent and maintaining the property. If you’re short for time or living away from the property, you can be assured that your Leicester home is in good hands whilst also providing a regular investment.
Renting out your Leicester property leaves you flexible for the future. None of us know what to expect in the future, so if you need to relocate to a new place for a certain amount of time you still have a property and base in Leicester. Renting out your property means that you can come back to it at any time and have not lost out on your investment in the property market.
Get expert independent advice when thinking about renting your Leicester home out from Open House Leicester. At Open House Leicester we offer property consultancy services and property management, so talk to us today to find out how you should rent your Leicester home. Call 0116 243 7938 or email firstname.lastname@example.org