There’s a lot to think about when you’re planning on letting your house, but our list below may help…
- Agree who is renting and who is responsible –can often be a group of friends or family. Make sure that is not going to be a free for all, or worse, sublet.
- Get references, and, vitally, check them. Even if people seem really lovely, it’s often the really lovely ones who ‘forget’ to pay.
- Take a deposit, and cash it. Cheques can easily be stopped.
- Sign contracts – agree who will cover utility bills, or if you share, what percentages. Agree meter readings.
- Have a plan for if the rental goes wrong. Horrible, but even worse if it goes pear-shaped and you don’t have a plan.
- Make sure your insurances (house, contents etc) covers the type of let (Landed Houses work with an insurance firm that deal specifically with market – please say if you’d like details).
- Ensure your accountant knows what you’re up to – letting a house usually means self-assessment tax forms.
- Rent fully furnished – replace any appliances that need ‘a knack’ to work
- Decide how you would like to collect payment – setting up a standing order is preferable (direct debit costs you money, invoicing and cheques or electronic transfer can mean delays or non payment.)
- Redirect your post if you normally live at the property https://www.royalmail.com/delivery/inbound-mail/redirections
- Check all boilers are valid – gas safety certificate, HETAS certificate etc
- Create an up to date inventory, and ask your guests to check, agree and sign. Make sure you both have a copy.
- Decide what to do about telephone and internet connection – will you set them an account, or will they sort their own?
- Decide if you want a penalty clause for early (or late!) leavers.
- Be prepared to spend money on marketing.
For more help and advice on short term lets, please see our other Blog posts. Alternatively, email email@example.com