Disruption from the pandemic has created plenty of “accidental landlords” — homeowners with an empty property they could potentially rent out.
Some could be saddled with a property they’re struggling to sell; others could be hoping to save money by moving in with a partner, or even their parents, and letting out their property.
FT podcast: Renting out a property
The pros and cons of letting out a property for an “accidental landlord”. Listen here
Jeremy, this week’s guest on the Money Clinic podcast, has relocated for work. He’s renting a room in a shared house, but wants to make some cash by letting out his former home.
He asks presenter Claer Barrett what taxes he would have to pay, the rules he would have to comply with, whether or not to use a letting agent — and how to assess whether becoming a landlord would stack up for him financially.
Expert advice is provided by professional landlords Ayesha Ofori, founder of the PropElle network for female property investors, and David Lawrenson, author of the bestselling book Successful Property Letting.
If you would like to talk to Claer for a future episode, please email the Money Clinic team at email@example.com with a short description of your dilemma, and how you would like us to help. Follow Claer on Twitter and Instagram @Claerb and read her weekly Serious Money column in the FT Money section of the FT Weekend newspaper.