Landlords Here’s How to Successfully Rent Out Your Property

Many homeowners venture into renting their property and you maybe an accidental landlord or looking to invest for the future.  Most people are not aware but it’s a legal minefield out there. One wrong turn could land you with a hefty fine, or worse still you could end up in prison.

It is essential you educate yourself and ensuring your property is worthy of being rented out to prospective tenants.  By preparing your property you will find the best tenants and receive highest rent.

1. Define what type of tenant your going to market.  Do you want Professionals, Family or Students.

2. Make your Property SAFE – Essential! Gas Safety, Electrical Wire, Portable Appliance Test, Legionella assessment.  Your property must also have fitted Smoke Alarms and a Carbon Monoxide monitor.

3. Furnished or unfurnished – If furnished does your furniture have the original safety label

4. Carry out essential repairs

5. Mortgage; If you have a residential mortgage you must seek approval from your current leader a ‘Consent to Lease’

6. Leasehold; Your leaseholder maybe required to consent leasing your property

7. Insurance – you need to take out a specific landlord insurance

8. Carry out right to rent checks, referencing and credit checks

9. Prepare a tenancy Agreement – have the correct Assured Shorthold Tenancy agreement. HMO – Homes with multiple occupation – You may need to get license from your local council

10. Deposit Registration Scheme – you must register within 30 days of tenancy

If this all sounds overwhelming, then you would benefit from the support of a letting agent who is experienced in the sector. If you would like an informal chat to discuss your property then feel free to call me 24/7 on 07555 699 535 or email jit@madhuli-properties.com to see how we can help.

Jit Naran is a Landlord and Owner Director of uLivin Lets

He’s bought and sold properties over the years and is also a landlord, as well as specialising in helping other landlords.

uLivin Lets is a residential property sales and lettings agency who pride themselves on being refreshingly different and standing out from the crowd.

Enquiries to 01865 575 411or via email to jit@ulivinlets.com