I have had the experience of both sides of the coin and right now we are wearing the landlord hat while we rent out our lovely home in Northern Ireland. When we decided to place our property on the rental market we gave it a lot of consideration and decided that placing the property with an agent had far more advantages than offering it as a rental to acquaintances…and several had asked. From what we had been told such situations often led to spoiled friendships so that was enough for us to make our decision.
If you are considering going into the landlord business yourself there are a lot of things to consider and one particular aspect is how the rental market differs from region to region. Just recently I was comparing the markets in the US to Europe and the UK and noticed how states like Texas have their own laws and ways of doing things. The market there is surprisingly up though and companies like North Padre Island rentals offer properties that include many more features than the average European/UK property for pretty much the same price – after currency conversion that is.
Getting a foot in the US market though is something we just might have a think about in the future!
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