As terrifying as it may seem to let your property yourself, when you break the process into individual items, it seems relatively simple; even more so when you use InformedLandlords.com
We have placed on this site your legal requirements for letting out property in the UK, but this quick check list allows you to cover all aspects of what you need to consider when letting and also purchase the services you will need to comply with law and to ensure a successful tenancy.
Letting your propertycan now be relatively simple with the web, media and other sources. You may also consider letting through an agent, paying a one off fee and managing the property yourself.
Insuring the Property is fundamental to a safe and secure letting. Remember to insure the building and also the contents if letting furnished.
Gas Certificates; you are legally obliged to have these certificates in place, and to have had your property checked annually.
Electrical Certificates; you are legally obliged to have these certificates in place and that all electrical items are PAT tested.
Energy Performance Certificates; you are legally obliged to have this assessed on your property.
Tenant Referencing; very, very important to know your tenant and their past history. Asking for a reference from a previous Landlord is simply not enough.
Tenancy Agreements; usually an Assured Shorthold Tenancy (agreement) for private Landlords. This is a written agreement. Beware allowing oral agreements, as this is difficult to prove when ‘who said what’.
Tenancy Deposit Scheme; when you take a deposit, you are now legally obliged to place this in one of three Government approved schemes to protect the deposit and you.
Furnishings; if let furnished, ensure the furnishings are legal.
Landlord Property Maintenance; it is Law, under the Landlord and Tenant Act 1985 that you keep the property maintained.
Rent Guarantee; - Decide whether you need to invest in rent guarantee insurance
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If in doubt, visit our legal partner, Purple Property on the link below and book a solicitor slot; the first advice is free and could save you money.