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What do I need to start renting my flat?
werdas
Posts: 72 Forumite
What do I need to start renting my flat? I have a mortgage on this flat, iI know I might need to get a [FONT="]Consent to Let
is there anything else? maybe steps/ quide?
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is there anything else? maybe steps/ quide?
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Comments
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Landlords insurance
Gas/Electric certificate
See landlordzone forums0 -
There are MANY things you need to do, and to understand. Posting a question here and getting bits and pieces of information is NOT the way to start.
Get a good book on letting properties. A decent bookshop or your library.
Go to Landlordzone and browse the site / read the forum.
Join a landlords association like RLA or NLA.
Talk to a good agent - one who is a member of an association like ARLA.
Read the Shelter website - a wealth of info, a lot of it from a tenant's point of view but it teaches you your obligations as a LL and shows you what tenants might expect/demand/have a right to.0 -
You need these before you start:
Consent to let from mortgage company.
Consent to let from freeholder (assuming it's leasehold as it's a flat)
Energy Performance Certificate
Gas Safety Certificate
Landlord's insurance
Furniture with the appropriate fire safety labels if letting it furnished
Appropriate paperwork e.g. AST template, inventory template, or a reputable letting agent to do it for you.
Other things you will need to do:
Research into reasonable rental charge
Decide how to vet potential tenants if not using an agent (e.g. credit and reference checking)
Decide with deposit scheme to use if you are taking a deposit
Inform the Inland Revenue of your rental income so they can advise you what you need to do regarding tax
As advised, check out landlordzone.co.uk for more info.0
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