'Keep an eye' on rent prices
While British expats might be getting used to their new life abroad, certain responsibilities back home will keep them on their toes.
One area of life that ties many professionals to the UK surrounds property, especially in the instance where homes are not sold and instead rented out.
In today’s current economic environment, expats need to remain attentive when it comes to setting and raising rent prices.
David Lawrenson, private rented sector expert at LettingFocus.com, explained that because real wages aren’t increasing by much, a lot of people are invariably “feeling the squeeze”.
Bearing this in mind, Mr Lawrenson said that landlords need to be conscious of the fact that there is “a limit to what people can pay”.
“It is better to have someone who is paying regularly and appreciates the place, rather than trying to go for the maximum achievable and then finding that you can’t let the place and can’t fill it,” he added. “Then you have got a void [period] or you might have arrears. It is about charging what is payable.”
In related news, Paragon Mortgages recently revealed that 91 per cent of landlords said they thought that tenant demand was stable or growing.
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