PROPERTY RENTAL

We regularly speak with clients for whom retaining the property is a key objective. For some that aim is more accurately reflected by the fact that they wish to retain the value of the property and avoid it being consumed in paying for care.

Whatever the motive many families are anxious to pursue a funding strategy in which the house is retained and rented. Often, property rental can appear to be an attractive option but it is important to consider a number of factors.

• The overall returns offered after allowing for agents fees, insurance, maintenance etc
• The potential uncertainty of income during vacant periods
• The tax implications and costs.
• It should also be appreciated that the responsibilities of being a landlord can present a significant added time burden, particularly when there may be an increased demand in respect of home visiting.

CareAware would always recommend that specialist financial advice is sought before taking any action.

	For specialist advice
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