Five Things You Should Know about Owning a Buy-to-Let Abroad
If you’re considering purchasing a buy-to-let abroad, here are five things to consider before you invest.
Distance
Handling maintenance and repairs is difficult when you live in another country. Most landlords employ a managing agent to do it for them.
Red tape
If you plan to live in the property part time, check foreign property ownership rules as there may be restrictions on this.
Tenant management
Communication could be problematic if the tenants don’t speak English and you don’t speak the local lingo.
Holiday lets
If you opt to let your property to holidaymakers on a weekly basis, occupancy rates may plummet in the off-season.
Tax
You’ll need to navigate the tax rules in the country where your property is located, as well as in the UK.
Weighing up whether to invest at home or abroad? Talk to us first, we’re here to help.
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