all that rent out houses
- Thread starter deano1976
- Start date
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Your first task is to get permission from the agency or bank that holds the mortgage, to rent the property out.
If you're free to do that, have a look at the advice given in this address: http://www.propertyhawk.co.uk/index.php?page=bible&id=89
If you're free to do that, have a look at the advice given in this address: http://www.propertyhawk.co.uk/index.php?page=bible&id=89
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Have a look at this, will give you some pointers
guide to being a landlord
Plus you will need landlords insurance, had a quick glance through the link can't say I saw it mentioned.
I found towergate are quite competitive
But the real knack, is getting the right people in, you want someone that is going look after the house and treat it as their own.
There is currently no legal requirement to have an annual inspection on your electrical installation and equipment, as there is with the gas, but it advisable to do so, as you can still be held responsible if something serious goes wrong.
guide to being a landlord
Plus you will need landlords insurance, had a quick glance through the link can't say I saw it mentioned.
I found towergate are quite competitive
But the real knack, is getting the right people in, you want someone that is going look after the house and treat it as their own.
There is currently no legal requirement to have an annual inspection on your electrical installation and equipment, as there is with the gas, but it advisable to do so, as you can still be held responsible if something serious goes wrong.
It's really difficult to assess the people who want your place and it makes very little difference if they are private or on benefits.
I tend to go with people on benefit because you do have the Housing people to talk to if anything is wrong. In Oxfordshire you get a deposit bond to cover a claimants deposit. This does not cover if the tenant owes money so get a cash deposit from them as well. This has to be held by an appointed holder by law. Easy to do and costs nothing.
Damage sometimes does occur especially if there are children. I always take a reconciliatory tone to getting things fixed because having an angry tenant is bad news.
Most benefit tenants are single and get the help quite easily to pay the rent, £980 for 3 bed. But from experience when they get married it really messes things up. I am interviewing future tenants at the moment and will be bearing that in mind before the letting begins. I know some will not like what I have said here but if one of my tenants had not married she wouldn't have got a black eye from her new husband and I would have got all my rent money.
She went on to sign an agreement on another house for 1 year while she was married and because of the bust up didn't want to move. But had to because the new landlord was demanding £12000 for the broken agreement.
A private let to a couple with children broke up after 6 months. The woman went on to benefits. Had a child by the chaps best friend so for inspection purposes I couldn't get access because she was afraid that her lodger would be revealed to the benefits agency.
You will be entering another world when you start letting out so all the best to you. Good luck.
I tend to go with people on benefit because you do have the Housing people to talk to if anything is wrong. In Oxfordshire you get a deposit bond to cover a claimants deposit. This does not cover if the tenant owes money so get a cash deposit from them as well. This has to be held by an appointed holder by law. Easy to do and costs nothing.
Damage sometimes does occur especially if there are children. I always take a reconciliatory tone to getting things fixed because having an angry tenant is bad news.
Most benefit tenants are single and get the help quite easily to pay the rent, £980 for 3 bed. But from experience when they get married it really messes things up. I am interviewing future tenants at the moment and will be bearing that in mind before the letting begins. I know some will not like what I have said here but if one of my tenants had not married she wouldn't have got a black eye from her new husband and I would have got all my rent money.
She went on to sign an agreement on another house for 1 year while she was married and because of the bust up didn't want to move. But had to because the new landlord was demanding £12000 for the broken agreement.
A private let to a couple with children broke up after 6 months. The woman went on to benefits. Had a child by the chaps best friend so for inspection purposes I couldn't get access because she was afraid that her lodger would be revealed to the benefits agency.
You will be entering another world when you start letting out so all the best to you. Good luck.
C
cumbriahandyman
If you rent out to anyone on benefits, (no reason not to) be sure that as part of the agreement they request that Housing Benefit is paid direct to you the landlord.
In Oxfordshire for a house that's how they pay it but for a room they give it to the tenant.
It can get a bit long winded because they pay in arrears at 4 weekly intervals.
C
cumbriahandyman
The tennant has to request payment to the landlord. Make that part of the agreement.
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