The landlord profession generally involves long hours and a lot of hard work, and recently landlords have been under even more pressure due to the welfare reforms, housing crisis and the controversial Immigration Bill. This is why it is important for all landlords to take a break every now and again, otherwise you could find yourself under too much stress and eventually making a mistake. Even if you think it’s never seems the right time to go away for a week or two there are ways you can take same time off and not worry about your portfolio.
Create a Timetable
If you think you can’t possibly spare a week to go on holiday then you should sit down and write down all the tasks you need to do, when you need to do them by and then create a timetable. Just writing things down can often make you feel less stressed and help you see that there is a lot less to do then you previously thought, and there is nothing quite like the satisfaction of crossing things off a list when they are done! If you do have a lot on right now then putting each task into an order of importance and figuring out when you are going to do them will also help you feel less stressed and can open up some space for you to go away in. Working hard for a couple of weeks with definitely be worth it if you get time off afterwards!
Get some Back-Up
Thanks to modern technology there is a huge temptation to always be available, and these days you can be on the other side of the world and still receive emails and phone calls from your tenants. This is why it is so important that you create a back-up plan for while you are away so that you can turn your phone off and not worry that your business will be in tatters by the time you get back. If you know a fellow landlord, you could ask them to keep an eye on things while you are away and advise them what to do if there is an emergency. If you don’t know anyone who could legitimately look after your property portfolio while you are gone then you may have to talk to your local letting agent and find out if they would be willing to look after your business for a small period of time.
If you’ve planned for everything to be done and created a back-up plan before you left for your holiday then there is no need for you not to enjoy your time off and relax. As you have worked so hard to plan everything you should make sure you take the opportunity to switch off while you can as you probably won’t get another opportunity for a very long time! Furthermore, by taking the time to relax you will come back feeling refreshed and ready to take on your business once more, meaning that both you and your tenants will benefit!
Check out the Local Housing
If you truly have a passion for the property and rental markets then going away to a European country for a week or two may get you thinking about investing in overseas properties. Even though you are supposed to be relaxing on holiday there is nothing quite like the thrill of finding a property you love for a reasonable price, even if it isn’t in your country of residence! With the UK property market currently being so precarious many landlords have already looked into investing properties overseas, especially as it gives them another excuse to get away more often. Just remember not to agree to anything until you’ve done some research into the local economy, the costs of overseas property insurance and any buy-to-let regulations in the country you want to buy in.
Holidays are something that everyone should look forward to, and while it may be difficult to relax at first if you have planned ahead then the likelihood of something going wrong while you are away is minimal. So sit back, relax and enjoy your trip!