Become a Double Renter
Posted on January 27, 2011 by Jenny Lloyd
Rent and Rent again!
Double renters
You’re probably wondering who and what this is.
Well, it is people like bankers, lawyers, or executives of big companies who move around a lot, in most cases because of work.
Many of these individuals are sent all over the world and will often choose to rent out their London home rather than sell. It is not easy finding the ideal property in the city of London and so despite moving it can sometimes make more sense to keep hold of it. Another category of double renter is those who rent within the catchment area of a popular school in order to guarantee their child a place at that school. They will then rent out their own home.
Make sure your property has been well maintained before you consider renting it out.
Renters from overseas will expect a property that is as nice, or better even, than the one they left behind. Rental homes that are geared towards families are quite popular as they are normally all set up for a family to move into. They are often near to the better schools also.
Why do these professionals not just sell up then? A compelling reason is the fear that by leaving the market they may lose out financially in the future. It can be difficult to get a foot hold on the property ladder again after stepping off of it, particularly as there is much uncertainty in the market. Then there is the time factor. Selling a home can take longer than expected and this can interfere with any plans to move for business purposes. That is why letting out your property is such an ideal alternative – you can remain in the market while still being able to pursue new career opportunities.
There are several key stages when ‘double renting’ seems to be the best solution. Promotion is perhaps the main reason for people moving on but there is also a rise in the number of parents moving back into the city once they have raised their children. It could be the quiet empty nest that sends them back to the hustle and bustle of city life!
By renting out their larger family home in the countryside they are free to rent a smaller apartment within the city and enjoy all the perks of city living.
So once the city pad is rented out, where do these people move to? Well, there are those of course who move abroad for their work, but there are also those who choose to make a move to the surrounding countryside. Tunbridge wells, Henley and Guildford are ideal for those who still have to commute into London and are very popular locations because of this. Moving to the country has many benefits. With miles of open green fields and some of the best local schools available, it the perfect place to accommodate a growing family. And in the meantime, the London flat can be kept as an investment or be lived in again one day when the children have grown-up.
If you need some expert advice, then speak to trusted conveyancing solicitors today.