It happens to the best of us. You're chugging along quite happily, paying your mortgage and managing the bills very well, thank you. Then out of the big blue yonder a financial setback strikes, and you're faced with the prospect of selling up and, for a while anyway, going back to renting property. It seems like a disaster. But after you've picked yourself up and gathered your emotions together, what at first feels like a major blow to self-esteem and lifelong achievement, can be seen as a blessing in disguise.
Take Stock
Realise that all is not lost. Instead of looking at what's gone, look instead at all that's to come. Renting property has its upside as well as its downside. For starters, you no longer have to worry about the upkeep. Something breaks down? Call the landlord or the letting agent. They'll sort it out for you. Renting property can become a breathing space. It can be a time to shrug off some of that heavy homeowner responsibility and regroup.
Realise Your Worth
Letting agents are in the business of renting out property, and they want reliable, honest, clean-living tenants. They want tenants who're not going to paint the walls purple and black and throw noisy all-nighters. As a former property-owning individual or family, you know what's involved in looking after a house or flat and you'll be the ideal tenant.
Let the Agent do their Job
It may seem hard. They may seem to ask many questions. But put yourself in their shoes and realise that when it comes to renting property there are many risks. They're only trying to protect themselves and the property owners. With so much fraud in the world, the law requires the questions to be asked.
Make it Your Home
When you're renting property it's easy to feel as though you no longer have a choice or a say in what goes on inside the four walls. This isn't necessarily so. No agent is going to deny you the right to decorate, hang pictures, dig the garden, or whatever else you need to do. Purple walls notwithstanding, a quick phone call to discuss what you've got in mind is normally all it takes.
Dealing with Inspections
Maybe the hardest part of renting property when you've been used to owning your home is having someone come round periodically to 'check up on you'. Don't take it personally. And don't feel as though you have to clean up especially. Providing you don't wallow knee-deep in take-away boxes or indulge your three-year-old's desire to crayon murals on every wall, no letting agent is going to expect perfection. They just want to see that you're not trashing the place.
You're not. But some would, remember. The best way to deal with inspections is to be open-minded about it and congratulate yourself that you're the model tenant.
Renting property after owning may take a shift in mindset and needs a positive attitude. There are always two ways of looking at any situation, and what at first may seem like an unwelcome prospect could even prove to be the lifestyle of choice.
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