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ccn1
19-03-2010, 12:11 PM
Hi All

Due to being offered a job relocation I am looking into letting my property for 6 months or 1 year+ (not sure yet) and rent a place near where I will be working until I find a suitable place to purchase.

I have some concerns which maybe I am over worried about but if anyone can put my mind at ease then im most grateful.

Can anyone suggest a good insurer against loss of rental income and help with legal and eviction fees should the matter arise, one which will pay out !. I have heard some bad things about landlords not being paid out, which we hear about in general anyway due to clauses in the the terms so any pointers would be great. I have spoken to LETSURE and they seem ok. Has anyone used them ?

My location will change from London to Somerset, so I wont really be able to manage the property myself and have a local agent interested. Are there any pitfalls I should be wary of and what is the going rate for property management.

I have a British Gas Homecare policy already in place, is there anything else I should put in place to protect against unforseen mishaps.

My property will be let unfurnished, do I need contents insurance or is that down to the occupier

My current buildings insurance is with Natwest (as a domestic policy) has anyone had any problems changing it to a rental policy and does it increase by much.


Thank you and sorry for the large list of questions, just want to be sure I cover all aspects before accepting a job miles away and then run into financial problems down the line.

I have also seen these guaranteed rental schemes, Iv'e read here and other places such as "the independent" that although they can be a good option depending on circumstances, you have to be very wary of sub-lets etc. Has anyone come across a legitimate one yet ?

If there are any other points I should be aware of, please let me know.

Kind Regards
ccn1

westminster
19-03-2010, 13:26 PM
My location will change from London to Somerset, so I wont really be able to manage the property myself and have a local agent interested. Are there any pitfalls I should be wary of and what is the going rate for property management.
Ensure that the agent is a member of a professional body such as ARLA, which protects their clients' money in a bonded account, and abides by a code of conduct.



If there are any other points I should be aware of, please let me know.

If you follow the above advice, it will help ensure that you comply with the landlord's legal obligations, but you should research and know the legalities yourself - reading this forum is a good way to learn. See also the Shelter website (http://england.shelter.org.uk/get_advice/renting_and_leasehold/private_tenancies/assured_shorthold_tenancies), and the letlink factsheets (http://www.letlink.co.uk/letting-factsheets/factsheets/main).

You might also consider joining an association such as the National Landlords Association (http://www.landlords.org.uk/index.htm).