February 23, 2009
Renting a property
Story link: Renting a property
Many property owners looking at a rental opportunity as a very easy to way to earn an exra income, when in reality, it definitely is not.
Renting out properties comes with many, many catches, which is the trap most private landlords fall into. It is always wise to do extensive research into the rules and regulations of the buy-to-let market, before renting out a property.
I would rather cut off my arm than sell Crabshell,” Steve Smith says of his holiday home in Kingsbridge, south Devon. One glance at his three-bedroom second-floor flat and you can see why: directly on the waterfront, 5 Crabshell Quay has airy, light-filled rooms, floor-to-ceiling windows that look straight out over the Kingsbridge estuary and sandy beaches within a short walk.
Steve, 48, and his wife, Susan, 47, spotted the £400,000 property in 2004, while it was still being built, during a drive around the area. They put down a deposit on the same day. Since then, they and their three teenage children, together with extended family and friends, have thoroughly enjoyed their little piece of Devon heaven.