There are lots of things that change over time, and some of them can be used as signposts to suggest that we are in a fundamentally different era. There are lots of famous examples with the way in which people dress being perhaps the most obvious. Fashion trends, if you read magazines, seem to change just as fast as the editors can produce another issue, but more generally, fashion is looked upon as something that lasts about a decade. The 1960s had their own style that was completely flipped on its head in the 70s, which in turn was superseded by the outrageous choices that people made in the 80s. Attitudes change and people’s behaviour changes with them.
The way people look at property changes too. Some things, admittedly, do remain the same and it will probably always be the case that one’s house is a status symbol which, at least ostensibly, reflects some intrinsic worth in the person that owns its. One thing that is different however is that people are more willing to consider their properties as potential sources of income. Apps like Airbnb have made people that would never have thought about renting out their properties into regular landlords. Conversely, it has also changed the way many people travel. Your options when you go on holiday are no longer restricted to traditional choices like a hotel or staying with family. There are more possibilities now. If you think you want to embrace the idea of seeing property in a fresh way, here a few tips to consider first:
You may think that renting out your property is just going to be a nightmare of potential legal pitfalls and battles with recalcitrant tenants. You’ve probably heard horror stories about people who would not pay their rent and then not leave when asked. The only recourse left open to such people was of course litigation which is immensely stressful and expensive too. However, it isn’t always like that. If you employ a property service company like Houseen, they will take care of that for you. For a small commission, they do all of the work and give you your money every month. It is especially convenient if you are not using the property right now. As long as it stands empty, it may as well be put to good use.
If your interests lie in the other direction, and rather than take on tenants, you want to be one, there a few things that you should be aware of. For example, when you first sign your contract, you will usually be asked to pay the first month’s rent up front and also pay a bond, or security deposit. You will get it back as long as you do not damage the property to the extent that the landlord needs to use those funds to repair it. However, some people are rather unscrupulous and to avoid any potential fraud, your security deposit should always be registered with a trusted financial institution, and you should be given proof that this has taken place.
Your home is versatile, and you should use it to its best effect.