Any Landlords out there?

Looking to let my house.. Is there anything I really need to be aware of / do?

Gas Safety.. Check
Landlord Insurance ...Check
Mortgage Informed..... Check..
Agent on board.... check..

uh... no tenant yet but just wanting to get ready..

Cheers All

Alex

I was thinking about pubs - doh!

make sure they

• don't have a big dog that makes a ****king racket in the middle of the night
• chuck their rubbish all over
• trash the mature garden
• be rude to the nice neighbours
• etc

<rant over>

(ie, make sure you've got a decent contract in place so you're covered if tenants turn out to be a nightmare)

Prepare a schedule of condition and take lots of phots - with a negative film camera not a digital thing so you can't be accused of photochop.

Read your agent's contract very carefully so you know what they are doing and what they aren't doing. I act for a few landlords who have been badly let down by letting agencies - some agencies think that their involvement on a serviced letting stops when the tenant signs up.

Tell your buildings insurer. Having a tenant is a greater risk for them as tenants tend to be less careful than you would be.

Ask the agent for a copy of their standard tenancy agreement and go through it with a fine toothcomb. I've drafted a good one (well I think it's good), you can have a copy if you like so as to compare it with the agent's one.

Will your agent obtain references for the tenants? Do they insist on employer references to confirm that the tenants are employed?

What is your agent's collection policy on rent arrear? Be sure that you have accelerated possession claim forms ready, sounds brutal but if the tenant defaults you ought to get them out quick. You could be really cheeky and insist that your tenant gives you a postdated (say 4 months) cheque payable to 'HM Courts Service' for £150 - this is the issue fee - so the tenant pays rather than you. Many will forget about the cheque until it's presented.

Make sure that your agent serves a section 21 notice at the same time as completing the tenancy agreement.

Make sure that you take a realistic deposit in case the tenant trashes the place.

Make sure that your agent puts the deposit in a tenancy deposit scheme asap so you don't get a hammering on compensation to the tenant.

Tell the Inland Revenue! Different rules apply for taxing income from land as for other income. Keep detauled records of everything.

Tell the Council Tax people the date you vacate, and the date the tenants arrive.

Don't forget to read the meters!!! - and advise the utitlity company.

**

The process is as much about managing your agent as managing your tenant.

Just a thought. I hate the terms 'landlord' and 'tenant'. They sound servile. They're feudal and should have been replaced a long time ago.

[embee]

I've heard you also need an ''energy efficiency cert'' too now. Is this true?

Originally Posted by embee

I've heard you also need an ''energy efficiency cert'' too now. Is this true?

Yes as from 1 October. Expect to pay £50 - £60 + VAT.

don't rent out to students, people with dogs or people with small children. that is all.

[timwilky]

Interesting

My mate across the road let his house yesterday. He has moved in with his mum/dad till he gets his money problems sorted. He has asked me to keep an eye on the place and let him know if I think there is anything he needs to know.

I think he got an off the internet tenancy agreement. I witnessed his signature on it. But he has a clause where he names me as his agent and requires the tenant to give me or any other agent access to the house.

Am I likely to be liable for anything as a result of him defining me as his agent. ie. Would the tenant come knocking on my door expecting me to arrange repairs etc.

Originally Posted by Ed

Yes as from 1 October. Expect to pay £50 - £60 + VAT.

would that not come as part of my HIP? and can I use it for the same thing.

BTW thank you ed.

My wife is a lettings manager for a large Estate Agency company round this way (Romans). If you want I can ask her to send you a Landlords info pack?

Just PM me your address and I'll get here to send it to you.

Dan