Going it alone on renting out

Gordon_T_2

Hi, Im looking to rent out my mothers house to help pay for her nursing home bills. I need a link to the forms for the tenancy agreement that I saw some time back but now cant find.
E/agents have given me a poor return quote and an even poorer estimate on their charges:eek:.
CP12 and electrical/EPC certificates are in place along with the usual things like gas/electric/water meters etc.:o Also local council notified for council tax.
Is there a form for setting up a direct debit for the tenants anywhere online?
Am I doing anything I shouldnt? Im just trying to keep things simple...................Gordon.

gallygirl

I can't help out with tenancy form am afraid, I buy mine from WHS. Take photos of the property, whether furnished or not, in case of any problems.

Re DD - you cannot set up a DD, only companies can request money via a DD. Set up a Standing Order instead - the tenant just needs to go into their bank with your sort code and account name and number.

Have you cleared this with mum's care provider? Is there a difference between their charges and what you will be paying? Do you know how much 'pocket money' she is allowed to keep? When my late mum was going into a home they were charging only nominal interest on the balance between what she would be paying (including rent from house) and what the charges were. Some councils are said to be charging extortionate amounts of interest. Or, when they die (sorry to be so blunt) you have only 8 weeks to raise what is owed before they start charging high interest.

The actual managing of the property from my experience is just as easy whether you manage yourself or through an agent - all they seem to do is phone you up & say they haven't paid the rent, the sink is leaking etc.

tbs624

Don't forget that you need an EPC (energy performance certificate) - a useless piece of paper IMO but a required one. Edit - ignore just re-read your post properly!

You can download a standing order mandate from landlordzone - some LLs prefer to get the T to fill it in and sign it but then deliver it direct to the T's bank themselves.

Do you have LLs building insurance in place? If you join a national LL association (or a local affiliate) you will be able to get a discount on the premiums. Your membership fee is tax deductable and it means that you have access to valuable guidance for a newbie LL.

clutton_2

join national landlords association (joining fee is tax deductible and you get cheaper house insurance if you are a member) - and they have a free legal helpline and all the legal docs you need

this is a complex business - dont underestimate the time it will take for you to learn what you legal responsibilities are

Troubled_Joe

clutton wrote: »

this is a complex business - dont underestimate the time it will take for you to learn what you legal responsibilities are

I couldn't agree with this more. I've got clients with dozens of properties who still make the most basic errors (often at the outset of a tenancy) which do not come back to haunt (and cost) them until they want rid of a bad tenant.

If you can afford it I'd recommend taking specific advice from a solicitor at the outset, although the landlord associations are a great alternative.

BritRael

clutton wrote: »

join national landlords association (joining fee is tax deductible and you get cheaper house insurance if you are a member) - and they have a free legal helpline and all the legal docs you need

this is a complex business - dont underestimate the time it will take for you to learn what you legal responsibilities are

Good advice.

The NLA will also give you sample tenancy agreements which you are looking for. Good luck.

Gordon_T_2

Thanks for the replies. I am about to join the Landlords Association this weekend. Glad this exists as I will need the extra monetary help on the insurance etc.