27 Nov

Get your property ready to rent

Get your property ready to rent

Whether a you are a seasoned landlord or someone preparing to enter their first property into the rental market, making sure your home is ready to let is hugely important.

From legal to practical, there are a number of things a landlord must consider before a property is eligible to let.

Are you eligible to rent?

Check your mortgage (if you have one) to ensure it is acceptable to rent out the property. If you own the house outright this is not an issue.

Another thing to consider is that your insurance covers you to lease. If not you may have to change your contact to something that will suit your needs as a landlord.

Perhaps the most obvious thing to think about is the actual state of the property - is it actually ready to rent out? Are things such as the electrics, gutter and gas in the appropriate state. If you are unsure it is best to consult a professional who can check this for you.

Paperwork

All landlords must have a valid energy performance certificate (EPC) to give to their tenants. This has been part of housing legislation since October 2008. These certificates show how energy efficient a home is and what can be done to make it greener.

To get hold of one of these landlords need to contact a Domestic Energy Assessor (DEA). These can be located with relative ease, either online or through your local directory. Most areas should have a DEA, however, you should make sure they are properly accredited before you pay for an assessment.

If you are providing a furnished property you must ensure that all the items comply with fire safety regulations. Electrical installations and gas appliances must also be proven to be safe.

Insurance

By ensuring you have the right insurance in place, Landlords can avoid a lot of potential headaches in the long run. It may never actually come into use, but the peace of mind it can offer alone makes it well worth getting.

There are many things you need to consider - fire damage, contents protection, problems with the water or electric. Having the right insurance in place can help you get your property back in action quickly and avoid any loss of earnings.

Set up a tenancy agreement

When your property is fully ready for renting and you have found a potential tenant, it is important you set up a tenancy agreement. This can often mean running a series of checks, including a credit check. This will help you ascertain if the person is who they say they are and if they can in fact pay the rent - many estate agents will be able to provide services like this if you are unsure about how to carry out such checks.

Meet the tenants. Doing the viewings yourself is a good way to meet any prospective renters to get a good idea of who may be living in your property.

If you are asking for a deposit you must make sure it is held in a secure Tenancy Deposit Scheme. All the details of the plan must then be provided to the tenant.ADNFCR-1222-ID-801665535-ADNFCR

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