Lessons Learned Managing UK Property From Overseas
#218
Are you thinking of buying your first UK investment property?
Have you had enough of the UK and are thinking of leaving for pastures new and becoming an expat?
Are you perhaps scared to take the leap and are looking for a little inspiration?
Are you wondering what it would all look like for YOU?
These are just some of the questions that this week’s show will get you thinking about.
Tanya Summer's family moved to Dubai in 2022 following her husband's long-standing dream to teach in the city.
Initially, her husband and eldest moved in August 2022, while Tanya remained in the UK with her younger son,due to a recent promotion and her father's health.
Like many expats, their move overseas allowed them to turn their family home into a buy-to-let and get their Expat Property Story started.
Property & Poppadoms Hong Kong Launch
During the episode, we discuss:
Overcoming skepticism and fear of risk from othersTransition from family home to buy-to-let investment in TamworthInvestment in a Welsh Holiday Let/Serviced AccommodationDual-purpose purchase: own use vs. holiday letting for incomeProblems with void periods (especially winter)Mortgage considerations—higher rates for holiday letsManaging and Operating the Holiday Let RemotelySelection and experiences with managing agents (e.g., Sykes Cottages)High commission, poor performance, and financial lossesTransition to self-management and improved outcomesCleaning and local keyholder arrangementsIssues with local tradespeople availabilityUsing Airbnb, Booking.com, Vrbo, and other booking platformsStrategies for increasing direct bookings (e.g., Stayfi, QR codes, Wi-Fi codes)Compliance with changing platform rules (e.g., Airbnb messaging policies)Financial and Regulatory Challenges Specific to Welsh Holiday LetsHigh council tax for second homes (up to 300%)Stringent business rates qualification—requirement for 182 days’ occupancyComparison of Buy-to-Let vs. Holiday Let StrategiesSelf-management vs. using agents—costs, involvement, and controlDifficulty finding trustworthy local partners for property management and maintenanceImportance of monitoring local property marketsBenefits of local market knowledgeInvestment in Dubai vs. further UK investmentsMaintaining openness to opportunities as they ariseI'd Like Help With Setting My Goals
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KeywordsUK property investment, expat property investing, buy to let, holiday let, serviced accommodation, property portfolio, property management, self managing properties, property in Tamworth, property in Wales, Dubai property investment, property networking Hong Kong, mortgage rates, holiday let mortgage, void periods, remote property management, cleaning and maintenance, Airbnb management, Booking.com, Vrbo, Sykes holiday agency, business rates vs council tax, second home tax Wales, managing agents, finding tradespeople, capital growth, family relocation, sourcing property deals, property investment strategy, direct bookings, limited company property investment
Expat Property Story
A podcast for expats investing in UK property
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