View Full Version : New BTL landlord seeks tips
27-10-2005, 19:16 PM
Hi i've just purchased a property that im thinking of renting out. Im not too sure one what the procedures are for letting the property.
Cheers for any help,
27-10-2005, 20:10 PM
Some points to consider:
1. Are you letting the whole house or getting a lodger? This has insurance and tax implications?
2. Is the property mortgaged? The lender will have to give permission for letting.
3. Have you got landlord's insurance? The policy must note any mortgage lender's interest in the property.
4. Will it be furnished or unfurnished? Any soft furnishings you provide will need to have fire safety labels attached.
5. Does the property have a gas supply? You will need a landlord's gas safety certificate, renewed annually.
6. Will you use a letting agent to get a tenant or advertise it yourself? There are pros & cons both ways.
7. Will you use a letting agent/property management company to manage the let or do it yourself? Again, pros & cons.
Don't let all this put you off though. It's not that hard.
27-10-2005, 20:56 PM
Get a copy of 'Renting out your property for Dummies' or the Which? guide to renting. Talk to letting agents, study this forum. Best of luck
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