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Long Trips and Letting Property
The world is definitely becoming a smaller place and the freedom that the internet offers has really made big dreams possible. Plenty of motorhome owners now leave the country for several months at a time, which does offer up a slightly niche opportunity. Why not let your property while you are away?
Becoming a Landlord
Property letting isn’t always an easy business so if you are thinking of letting while off on a motorhome holiday you’ll need to follow some procedures. You will need to advertise for tenants, work out a way of charging rent and, of course, you’ll need to register as a landlord for tax purposes, even if you’re only away for three or four months.
One of the difficulties that motorhome owners encounter when letting is that it’s hard to physically manage your home while you’re away. It’s a very good idea to have someone local who can look out for your property if you’re out of the country – most lets run soundly but often things don’t quite go to plan, so it’s good to have some backup.
In Event of Emergencies
You will need to think about what happens if things go wrong. Check whether your motorhome insurance policy covers you for cancellations if you do need to return home unexpectedly. You’ll also need to think about whether your possessions are still covered by your home insurance if you have tenants.
There are many, many obligations involved with becoming a landlord for just a few months so it is a move not to be taken lightly. However, it’s good income if you can get it, so if you’re thinking of going away for a long period of time, it’s definitely worth your consideration!
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