You’ll need to notify your mortgage lender if you’re planning to rent out your property, as a standard mortgage isn’t valid for rental purposes. Some lenders may ask you to swap to a Buy to Let mortgage, while others might request that you pay additional interest.
This depends on the type of tenant you want to attract. For example, students usually prefer furnished accommodation, as they don’t have the available funds to kit out their rooms themselves, whereas families might already have furniture that they’ll be bringing with them. Please note that any furniture provided must comply with current safety legislation.
Letting out a property comes with great financial benefits, but there are a few costs to keep in mind. For example, your Buy to Let mortgage will be slightly more expensive, and you might need to set aside some funds to make improvements to the property. Also, if you’re planning to let your property as an HMO (House in Multiple Occupation) there will be licence costs, change of use costs plus costs to get your property up to standard. As letting agents, we charge a fee for our services, and the exact cost depends on the package you select. To discover more about our range of letting management options, get in touch with our team today.
Managing a rented property can be time-consuming, not to mention stressful. Our letting management services make being a landlord as straightforward and hassle-free as possible. We take on a range of tasks on your behalf, such as marketing, vetting tenants, collecting rent, dealing with tenant issues, and much more.
We strongly recommend creating an inventory at the start of the tenancy. This document provides details about the property’s fixtures and fittings, plus its general condition as a whole. If there are any disputes at the end of the tenancy, it can be used as evidence to support any claims.
By law, you’re required to place your tenant’s deposit in a government-approved tenancy deposit scheme. We’ll handle this for you, or you can take on the task yourself if you prefer. The deposit must be returned to the tenant once the tenancy is over, minus any money to cover the cost of repairs or unpaid rent.
Rental legislation is always changing and keeping up with the latest developments can be tricky. Our team are always up to date with the most recent changes, and we’ll let you know if there’s anything you need to be aware of.
Our team are here to address any issues relating to damage, or failure to pay the rent. We’re the first point of contact for tenants, and we’ll work with them to find a suitable resolution. If required, we’ll obtain funds from them to cover the costs of repairs, or to pay the rent they owe. In the unlikely event that your tenant refuses to comply, we’ll take the necessary steps to protect your property (and finances), and keep you informed throughout, so you don’t feel left in the dark. We can also offer protection in the form of rent insurance for unpaid for rent. Please ask us for more details.
If you want to end the tenancy, you’ll need to notify your tenants in writing. The type of notification you’ll provide is dependent on the tenancy agreement. You can find out more about this by calling our team.
As a landlord, you’ll need to provide a few legal certificates. These include: an EPC (energy performance certificate), safety certificates (gas and electricity), and the deposit paperwork.
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