Neil Wright Property Management & LettingsHouses for Rent in the Settle – Bentham – Yorkshire Dales

Letting Your House – Tips for Landlords

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  1. First of all you need to contact us to get a realistic estimate of the likely rental income.
  2. Work out the tax implications of renting out your property. The rent you receive will be treated as income and taxed in line with your basic or higher-rate tax bands.
  3. Make your property a tempting proposition – particularly if it is a family home. Finish all those little jobs you’ve been putting off for years
  4. Try to be flexible with your requirements and don’t put in unnecessary restrictions on children and pets unless you have a real reason to do so.
  5. Make sure your home is safe to be rented out. Plenty of things that you have been prepared to live with for a long time will not be suitable if someone else is coming to live in your property.
  6. You will need to obtain a gas safety certificate from an engineer registered with gas safety body CORGI.
  7. Get the wiring checked by a qualified electrician.
  8. Depending on the size of your property you may also need fire detectors before being rented out.
  9. You must make sure you inform your mortgage company. Be aware that they may want to change your mortgage to a buy-to-let with a higher interest rate. Failing to inform them is classed as breach of your mortgage contract and would invalidate your insurance, should anything happen.
  10. Don’t forget to tell your insurance company. you will still need buildings cover, and a specific landlord’s insurance policy will cover you for things like loss of rent and landlord liability.
  11. Make sure you get a proper tenancy agreement and customise  it to suit your needs.
  12. Make sure you take references from potential tenants.
  13. Lodge your deposit with a landlord deposit scheme. From April last year, all tenants’ deposits must be protected.