“Help, I want to Let My House!” If you want to let your house out, you have come to the right place! Lettingaproperty.com is an online letting agent and we provide a one-stop-service for landlords looking to let a property out.
Before you decide to let your house, these are our top 10 tips for landlords:
1. Consent to Let – If your property is mortgaged you must (at all times) inform your Lender of your intention to let your property. This is commonly refereed to in the Industry as a Consent to Let (download letter to send to your Lender) Some Lenders are fine with this and some ask you to change the product that you are on to a Buy to Let mortgage. If that is the case, why not try our Independent Buy to Let Mortgage partners for a better deal?
2. Landlord Insurance – you must have specialist landlords insurance on your property. If you do not have the correct landlords insurance you could run the risk of invalidating your policy. We work with one of the UK’s leading insurance providers for Landlords in the UK. You can get a competitive quote in under 60 seconds!
3. Tenancy Deposit Scheme (TDS). This is now a legal requirement and landlords face big financial penalties if caught out. For all tenancy agreements that started on or after April 6, 2007, landlords are required to protect their tenant’s deposit using one of the Governments authorized schemes. For more information, please visit www.direct.gov.uk/en/tenancydeposit.
4. Gas Safety Regulations – It is a legal requirement for you to provide a copy to each of your tenants of a valid Landlords Gas Safety Certificate which has been carried out by a Gas Safe Registered Plumber and is usually valid for a period of 12 months. We work with Homeserve, the UK’s largest providers of Gas Safety Certificates and Boiler / Central Heating maintenance. Find out more info about our gas safety certificates
5. Energy Performance Certificates (EPC) – Energy Performance certificates are a legal requirement for anyone letting or selling a property. Landlords are required to provide a copy of the certificate during the lettings process. Even though Landlords are not legally required to carry out any suggested recommendations in the EPC it is always worth considering that tenants may use this as a deciding factor when choosing a property to rent. The EPC is required by law when a building is constructed, sold or put up for rent and can only be produced by an accredited Energy Assessor – You can order an EPC for only £65 here
6. Tax Liability - It is wise to consider that as a Landlord, you are effectively running a business and will need to declare and income and expenses to the Tax Office – Any good accountant should be able to advise you on rental income tax.
7. Keys – Make sure you have enough sets of keys cut for each of your tenants.
8. Money – Do not release the keys to the tenants until you have your deposit and first months rent which is cleared in your bank account.
9. Mail Redirection – ensure that you have all of your post re-directed.
10. Become a Member of a Recognised Landlords Association as you may need assistance in the future. If you have any problems regarding your tenant, they are always on hand to be able to help. You should also visit our forums and post a question, I am sure one of our friendly and experienced landlords will be happy to help!
Now that you have read our top 10 tips to letting out your house, why don’t you take a look at the fantastic landlord advertising packages we offer – you can let your house from only £29!
