If you’ve ever played with the idea of becoming a landlord, now might be the time to do it, and Kent might just be the place.
Whether you already have a potential rental property in Kent, or it’s something you’re still looking into, renting out a home in this county might just be your ticket to early retirement.
Why is now a good time to be a landlord?
You might have seen that house prices are on the rise. Whilst that might make you reluctant to buy at all, let alone buy to let, this actually means there are going to be a lot more renters looking for homes.
When house prices rise, more people, millennials especially, are going to resort to renting, rather than pursuing ownership of a home. This means that there’s already a high demand for rental properties, and people are willing to pay more than ever before.
The next question you’re probably asking is: why Kent? There are hundreds of different places you could rent out a property.
But Kent has often been labelled one of the most expensive places to rent outside of London. That’s not great news for renters, but for landlords, it means that Kent has the potential to be a goldmine.
There’s also the fact that Kent is a popular county to commute to London from, so there’ll always be professionals looking to rent in the county. Professionals are often willing to pay more, and they’re usually less troublesome tenants.
Considering as well the fact that business opportunities are on the rise in Kent, and in Canterbury in particular, there’s little chance of rental rates taking a hit any time soon.
Renting out your current home
Even if you don’t have a portfolio of rental properties, and you’ve never been a landlord before, if you’re a homeowner in Kent, you could always rent out your current home.
But that just leaves the question of where you would go whilst renting out. The answer? Many people have turned their homes into rental properties so that they can travel before Brexit kicks in. So if you’ve always dreamed of traveling, this could be the path for you.
The chances are that when the terms and conditions of Brexit are decided, it won’t be half as easy to travel around Europe as it is now. Renting out your current home can be a good way to travel with an income, before it becomes difficult to do so. You’ll also have someone look after your home whilst you’re away (you’ll need an agent though).