Belvoir News Article

18/06/2007 - Grown up gap year travellers home in on rental incomes

From those enjoying a well-earned career break to baby boomers with the means to retire early and set off around the world, it would seem the gap year is no longer just the preserve of student travellers.

Taking off and seeing the world for several months or a year might seem like a daunting prospect for some, but in fact, there are now plenty of mature travellers out there doing just that.

“We are seeing the number of older people looking to let out their property while they go travelling growing all the time,” says Mike Goddard, Chief Executive of Belvoir.

Mike says: “A lot of older couples and individuals are taking the plunge and doing what in the past, people of their age and generation would never have dreamt of.

“Others are renting out their homes while they enjoy a career break,” continues Mike. ”Even if they still have a mortgage to pay off, they find that in most cases the demand for quality rental property means that they can set off and enjoy themselves."

Belvoir offers the following advice to anyone considering letting out their property while taking a year out…

- Get advice from a professional lettings specialist to determine if your property is suitable for letting and what kind of tenant and rental income you might be able to expect
- Let your home through an experienced company which can also manage the property while you are away
- As you will be in receipt of rental income while abroad it may be helpful to seek tax advice from your accountant or the Inland Revenue.
- Ensure that any valuable items are stored safely
- Get yourself a hotmail account
- Sign up for internet banking
- Do your research before you go – good planning is the key to a successful gap year.

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