Looking to rent house out in Scotland - any good guides?

blued

I'm looking into the possibility of spending 6-12 months abroad so would like to rent my house out to cover the mortgage.

Can anyone recommend a site or document that goes through everything that needs to be done? I've had a look on landlordzone but can't really find what I'm looking for. I'm after a guide rather than digging through a forum or FAQs.

I know the basics like getting permission from lender, a gas safety certificate, make up a full inventory, but would like to find something that goes into detail of how to do credit and reference checks on potential tenants, tax to be paid, pros and cons of going with an agent (my parents live close by so could arrange for any repairs etc.), what sort of tenancy agreement to have made up, general costs of this so I know what to budget and so on.

Any help suitable for a complete newbie appreciated.

black_taxi_2

this firm is sound

http://www.northwooduk.com/contact

black_taxi_2

im opposite end---my father has been tenent for two years edinburgh

they check flat/house every few weeks/months
the landlord can ask what type of tenent they want
i was guarranter for first year---payment for rent 1/2 months up-front advance

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theartfullodger wrote: »

Join SaL
www.scottishlandlords.com/
Get trained by LaS
www.landlordaccreditationscotland.com
Get registered with this lot...
https://www.landlordregistrationscotland.gov.uk
Get registered re this..
http://www.hmrc.gov.uk/cnr/nr_landlords.htm
- or tenant will have to withhold 20% of rent

Be VERY VERY careful how & in what order (and how you can prove..) you serve various notices & sign the tenancy..

Thanks that gives me some reading to do.

black taxi - thanks but they dont have an office in my area.

Nosht

I can recommend Martin & Co. as agents.


N.

blued

To be honest I'm leaning away from an agency. A friend was quoted 13% which is potentially over £1000 per year. I'd rather prepare properly and do it privately if possible.

blued

theartfullodger wrote: »

Join SaL
www.scottishlandlords.com/
Get trained by LaS
www.landlordaccreditationscotland.com
Get registered with this lot...
https://www.landlordregistrationscotland.gov.uk
Get registered re this..
http://www.hmrc.gov.uk/cnr/nr_landlords.htm
- or tenant will have to withhold 20% of rent

Be VERY VERY careful how & in what order (and how you can prove..) you serve various notices & sign the tenancy..

Just an update and a question about the short assured tenancy.

So far...

I've submitted a registration online with my local council and will register with SaL and LaS when I get my registration number. Hopefully there will be training in an area close by.

My lender is sending out a questionnaire to complete for permission to let and said if successful it will cost £100.

Printed off the 'rental income without deduction' form to complete.

I've found I need an EPC (Energy Performance Certificate) so will arrange that.

I had someone round from the estate agents to get an idea of rental income and they have given some prices for their services.

£250+VAT for advertising and EPC (a quick google suggests an EPC is about £75 inc VAT)

£375+VAT for Non Factored service which includes finding tenant, reference/credit checking, preparing the lease and AT5 and collecting the deposit and first months rent.

OR

£250+VAT plus 15% (poss negotiable) monthly rental for factored service

OR

£250+VAT for a lease only service (includes the AT5, letter to tenant and serving notices)

This is where my question comes in, does a lease need to be drawn up at this cost or can a lease be used from the likes of this website - http://www.landlordscotland.co.uk/

At the moment I'm leaning towards lease only at first to see how much interest we get. I believe credit checking can be done for less than £30 and reference checking can be done for free so at £750 the non factored service seems quite expensive! There are a few places I can advertise for free so I'll try that first.

Any further tips appreciated, I'm on a big learning curve here!