rent out house for 6 months

naturegirl_2

I've got the chance to work away for 6 months next year and want to rent my house out for that period. How, Who, etc etc Where do I start, who can help? do I need special insurance, tell the mortgage provider?
Any information greatly recieved.

mchale

Is their a market for your property?
get permission from yr mortgage company
sort out insurance cover
sort out corgi cert
sort out tenancy paperwok
have a builder handy for problems

llh189

I would say please be honest with letting agency and make sure that they are honest with prospective tenants. I have been caught twice with landlords who knew that they were only renting for a minimum period and didn't bother to tell me and both times it cost me a fortune.

naturegirl_2

It will only be for 6 months, would it be better to use an agency or go private? I've been in touch with my local house assoc to see if they are interested. Who or where do I go for a tenancy agreement?

Premier_2

You can do it privately by sticking a "To Let" sign on your property. When someone knocks at your door, you give them the keys and move out.
But you might experience some difficulties down the line though ...

Or

Go to a professional letting agency and they should give you all the advice you need, tell you all the things you need to arrange (and how), and find you some decent tenants who'll pay the rent. They'll even look after the property and collect the rent for you if you wish. But, of course they will charge.

Which would you prefer?

naturegirl_2

thanks, I've been intouch with an agent they want 10% of the monthly rent. plus 1% of the asking price if I sell my house to a tennant they have introduced to me!! is that usual? I've only 2 months to go before I move so I need to decide now.

mlz1413

10% of rental is usually plus VAT and 1% of property value if you sell to tenants is normal but won't effect you if you move back in.

Rental agreements can be from LL associations or from legal stationary (waterstones/WH Smith have a section) but a LA will probably have their own.

If you are renting even for 6 months you will need your mortgage companies permisson, an EPC and to sort out buildings and home insurance to cover, its quite a lot to do but shouldn't take more than a few phone calls to ensure house is ok to rent, then it's upto the agent to get it rented.

Even if you left the house empty for 6 months you would need to discuss the implications with your insurance company.

clutton_2

""plus 1% of the asking price if I sell my house to a tennant they have introduced to me"" - just cross it out and initial alongside it - you dont have to agree with every clause in any agreement - if they insist on it - you may have to find another agency - i suspect this will fall under Unfair Terms of contract

Premier_2

naturegirl wrote: »

thanks, I've been intouch with an agent they want 10% of the monthly rent. plus 1% of the asking price if I sell my house to a tennant they have introduced to me!! is that usual? I've only 2 months to go before I move so I need to decide now.

Sounds typical. Have you shopped around for a few more quotes to see if they are competitive?

Remember, everything is negotiable too
But remember negotiation is about 2 sides coming to an amicable agreement together, not one side acting unilaterally in the hope of forcing the other to agree.

tbs624

naturegirl wrote: »

It will only be for 6 months, would it be better to use an agency or go private? I've been in touch with my local house assoc to see if they are interested. Who or where do I go for a tenancy agreement?

Join a LL association - two national ones and there's probably a local affiliated one in your area. Even if you were to use an LA you still need to read up on your obligations - some links for you here, here , here , here , here, here and here . You may want to set aside some time....

Letting Agents do not always make thing simpler - many of them have no qualifications, few undertake any training and a lot of them would appear to have a poor grasp of LL & T law. If you were going to use one , at the very least check that they are signed up to ARLA which means that there is a code of conduct. Go through any contract they offer you and seek your own clarification of anything you are not sure about. Also look though the tenancy agreement that they would use for your property. If you need to arrange any repairs or maintenance you would be better having your own workmen as otherwise you'll probably end up paying over the odds if you do it through the LA.

Oh and don't forget you'll need to declare to HMRC.

naturegirl_2

The letting agent has told me she is not a member of an association. (She was recommended by an electrian I was using who has worked for her) I can use my own builder for repairs. The Mortgage company has been contacted they want £490!!! to change details for the 6 month rental. I haven't got intouch with the insurance co yet. Is is worth joining the LL assoc if I'm only renting out for 6 months? My builder friend said I should do it my self and not get an agency I thought it would be less hassle to use an agent but it feels more and more complicated by the day!