Letting house over festive period

Sallysu

Hello,

I thought about letting my house over the festive period as a way of making some extra money. After 1 night of advertising, I have someone interested in renting it.

I've never done this sort of thing before and am now wondering if it's a good idea.

All thoughts would be appreciated.

chrisuren

You NEED to look closely at the people you're letting into your home. If they ruin it, what measures are in place? You'll need to get landlord insurance to cover damage to the property (Home insurance won't cover the damage)

It's so crucial to get a list of measures in place for the successful candidate, even if it is just over the Christmas period.

My dad runs a pretty successful agency in Plymouth (not a Landlord, hes just an agent that goes to the tennants when they have issues, also he takes their rent on behalf of the landlord, taking a 8% cut) and he's said the most important things to get are

1- References, find out where the people live and ask their neighbors what they're like. If they trash their own house, chances are yours will get treated badly

2- What is stopping these people from ruining your house, then just going? Changing their phone numbers and never talking to you again, or paying for the damage?

3- Get a deposit. Normally 1 months worth of rent.


I know it sounds silly assuming the worst, but trust me, if you just think "they won't ruin it, this is my house" you'll lose a lot of money and your home.