In recent years, the rental market in the UK has been thriving, and plenty of people have made a profit by entering the market at the right time. While there is a slight sense of feeling that the peak point has been reached with respect to profits and returns in the UK rental market, there is still a good opportunity to make money in the short and long term. However, some people will be keen to find a market that hasn’t been overexposed, allowing them a greater chance to make money and get a real return for their investment.
This is why there is a great deal of interest in the foreign rental market and it may be that this will be of greater interest to you. There are many countries where there are genuine opportunities to enter the rental market but it makes sense to do your research before you get serious about what your options are.
Find People you can Trust
If you are thinking about entering the letting market outside of your own country, it makes sense to meet potential property managers and professionals in person. A website may look informative and of real interest to your needs but it may be that the level of service promised by the website isn’t the same as the level of service that you will receive in real life. This is why there is a great deal to be said for meeting the people you entrust with your property in real life, and this is why heading to a conference or event like MIPIM 2016 will be of real benefit.
There is a lot to be said for meeting people in real life and getting a feel for what they offer. You are going to be working closely with the people that you entrust to look after your property, so it makes sense to develop a good working relationship and see if they are on the same wavelength as you. Heading off to a major convention like this will cost you time and money but in the long term, it is likely to save you a considerable amount of hassle, heartache and even money in expanding your rental market options.
You need to know what makes an agent a good fit for you
When it comes to determining if an agent is a good fit for you, there are some questions you should be looking to ask, like:
- Will they be able to advertise your property in an effective manner?
- Will they be able to field enquiries from potential clients and then book the rentals?
- Can they liaise with clients, field all of their questions and hand over keys or instructions?
- Can they take care of day to day tasks in an effective manner?
- Are they able to maintain accurate records of all income and bookings?
- Can they handle deposits?
- Can they maintain an inventory checklist and make repairs of necessary?
- Will they ensure that the property is cleaned effectively?
These are all hugely important aspects of being a landlord and if you are not going to be on hand to take care of these matters, you need to find someone that is willing to do all of these tasks for you. This is why there is a need to find the right professional for the job, and this is why you need to make the effort in meeting people and seeing who is the best fit for your property ambitions.
It will be likely that an attendance at a property convention is only the start of your relationship or the initial phase of getting to know someone. These events can be busy and while there will always be time to meet and get to know someone; you may still want to spend more time in their company to determine if they are the right person for your needs. However, the conference or gathering is the ideal starting point in getting to know potential agents, so you should always look to meet people in this setting.
By booking a good quality apartment you can be relaxed and at your best when you head off to these events. This is another expense to think about in the overall list of expenses you will have when entering a foreign property market, but you should consider this to be a necessary level of expenditure. When it comes to being a success in a foreign rental market, you need to know who you can trust and this means you need to spend time getting to know people and seeing what they have to offer.
Andrew Reilly is a freelance writer with a focus on news stories and consumer interest articles. He has been writing professionally for 9 years but has been writing for as long as he can care to remember. When Andrew isn’t sat behind a laptop or researching a story, he will be found watching a gig or a game of football.