At some point, almost everyone has watched ‘Homes Under The Hammer’ and dreamed of having a passive income (admit it!). It can be the perfect way to benefit from a property you don’t want to sell, have acquired from a relative, or that you’ve bought with the intention of renovating.
You don’t just have to dream about becoming a landlord. Here at Venture, we have a detailed knowledge of the County Durham rental market - with offices in Darlington, Chester-le-Street, Crook, Durham City and Bishop Auckland.
We offer a variety of management packages to suit individual landlords’ requirements - from simply finding the right tenant to full property management and guidance.
If that wasn’t enough to encourage you to take the plunge, we’ve listed five of the best benefits of owning a rental property, for you to consider:
It’s the most obvious – and probably the main reason so many people decide to go for it.
From ringfencing your landlord income for a pension through to using the property as a back-up home if your living situation changes, being a landlord can offer a host of financial assurances.
Be the Boss
Being a landlord is like managing your very own business. Costs, contracts, terms – they’re all up to you to decide. And if you decide to sell, that’s your decision too.
Currently, there are a host of laws which serve to benefit those who rent out properties.
You many end up with a loss from your rental income due to taxbut to counteract this, there are a host of tax deductions available for landlords, including building and contents insurance, and professional services.
The Potential Loss of Red Tape
The looming of Brexit could offer landlords benefits too.
No longer being part of the EU could spell the end of Energy Performance Certificates which were first introduced as an EU Directive in 2007.Each report costs around £65- every little helps!
As a landlord, you never have to be alone in the journey. At Venture, we can offer as much or as little assistance as you need to findyour feet- from sourcingtenants to managing the whole process. We’ll help you through the initial groundwork until you start reaping the benefits of renting your property!
Are you already a landlord? Tweet us if we’ve missed any of your favourite benefits from the list: @ventureprop.
Want an informal chat about how our team could help kick-start your rental journey? Give one of our six branches a call today! https://www.venturepropertiesuk.com/contact-us/