Don’t sell your property, rent it

If you have a property which you are planning to sell due to the credit crunch, have you considered renting it out? Many homeowners are unable to keep up with mortgage payments due to the current financial crisis. This has led many to sell their homes.

If you have a property which you are planning to sell due to the credit crunch, have you considered renting it out? Many homeowners are unable to keep up with mortgage payments due to the current financial crisis. This has led many to sell their homes. However there is a valuable alternative. Putting your house for rent in London can prove to be more beneficial than selling your property.

We all understand that the UK his in a depression. With many changes and strategies being used, the current government are planning to find ways to bring the stable economy back in to play. The current crisis will last for a couple of years, but with time will gradually fade away. Putting your house for rent could be the solution you are after for those long years of wait.

Instead of selling your property off, have you considered the long term affects it may have. Regardless of the UK economy becoming stable in the future, house prices will expect to increase or remain the same at least. This will make it more difficult for you to purchase a property in the future years. If you are in the position where you already have a property and are finding it difficult to keep up with the mortgage payments, instead of opting to sell your property, put it up for rent.

The amount of money you are able to receive in return will guarantee to cover your mortgage payments and the possibility for extra income is there as well. When putting your house for rent in London, you will have two options. You can either maximise your room potentials by converting your living and dining room in to single or double bedrooms and letting out each bedroom individually. Or you could rent your entire house for rent in London.

You will have to weigh out the possible returns in both cases for you to make a final decision. The more favoured option for you to choose would be putting your house for rent in London. The reason being, when you put your entire house for rent, you can assign the responsibility to a local estate agent to deal with the paperwork, tenant finding, money collecting and any other work in relation to letting out your property. You will be guaranteed a decided monthly return at the start of every month and will have nothing to worry about. By renting an entire house on rent, you will also be saved from the hassle of paying the house bills as the responsibility will be transferred to the new tenant holder. This is more difficult in the case of letting individual rooms as you can not calculate the amount of electricity, gas and water consumed by each individual.