When you decide to rent out your home you will become a ‘landlord’ and with this new status comes great responsibility. There are a number of important factors you will need to consider before you put your home up for rent, such as how to prepare your property and your legal responsibilities.
To help you become a successful, first time landlord, here are three top tips to consider before renting your house…
To start off you will need to do your research to learn who your ideal tenants are. Carefully consider who your property would be suitable for – families, students, single city workers?
You will also need to do some homework to see what homes in your area are being let for per month. This will help you to set a competitive price of your own.
Prepare your property for your new tenants by thoroughly cleaning your home and making sure all appliances are working correctly. Unless you are letting as ‘fully furnished’, you should remove all your belongings from your home and try to leave each room as a blank canvas for your prospective tenants to add their own style.
You should also ensure you have all your legal compliances sorted; such as an Energy Performance Certificate, as well as all your health and safety requirements in order. These should include checking fire, gas, electrical and carbon monoxide regulations.
- Choosing a tenant
When renting out your own home, you want to know that it will be in safe hands. You may have lived there for many years and created a lot of happy memories, so it is understandable that you may feel uneasy about who will be living in it. If this is the case then you should certainly try to meet any potential tenants before agreeing to let them your property. This can be arranged even if you decide to use a letting agent. They can also perform reference and credit checks to ensure any tenants they put forward are trustworthy and reliable.Tags: landlord, london property, property, renting, tenant
Categorised in: News
This post was written by Innermedia Ltd