Renting out your property can give you an income – whether you are moving in with a partner but want the security of keeping your current property, or you are moving abroad to work and want to keep your UK property, there are a few things to be aware of when you are planning to rent your property out…
Firstly, you need to make sure that your property meets the legal standards to ensure it is safe for your tenants to rent. You need to make sure that smoke alarms are fitted on each floor of the property, make sure that you have a gas safety certificate and also an energy performance certificate.
You also will probably want to find a professional letting agent like this Letting Agents Bridgwater www.sykesmoore.co.uk/lettings/letting-agent Although you can let your property out directly, if you are new to letting or you don’t have the time to manage the property, then it is best to let a letting agent do it for you. They can also deal with the marketing and also referencing potential tenants.
Tenant references are an important part of letting your property out. Making sure that you have a tenant who is reliable can save you a lot of trouble further down the road, so references and credit checks are something that you don’t want to skip.
You will need a legal tenancy agreement before anyone moves in – typically this will be an assured shorthold tenancy. When the tenant then pays the deposit, you must keep it in a protection scheme.
