Ever wonder if managing international rental properties for you? It’s Maybe you have wanderlust and have become smitten with a villa in the Provence, or a chalet in the Swiss Alps. Suddenly, you find yourself browsing the real estate listing and fantasizing about a vacation home. Then you scratch your head and wonder if this is a good investment. This US News Money article about a helpful article on how to make your vacation home pay for itself.

There are many things that an owner of an international rental property needs to consider. For example what about taxes? A residential rental property in the US has a depreciation period of 27.5 years according to IRS rules, but it is different for rental property overseas and dependent on how you use the property. Best to check with your tax consultant to make sure you understand the tax laws.

Are you looking for a vacation home or an income stream or both? In addition to deciding how you will use the property; one needs to research how actual ownership occurs in each country. One great way to learn more is to find a local owner in the area you hope to own property and understand the types of ownership options available. Additionally, there are investment companies and real estate investment trusts that offer an alternative to investing if outright ownership is not something you seek.

Finally, one needs to consider managing the property from abroad. Day-to-day operations and on-going maintenance and upkeep are more challenging when the rental properties are not in your country.

What questions do you have about rental properties? Contact me today!