rental procedure

ramborai1987

could someone help me with how to rent out a house (landlord) or could someone give me a good link please.

do you just rent out the house and how do you declare your rent? thanks

poppy10_2

yes

BrixMorta

Tell Mortgage company & Insurers you will be renting out house, make sure property is in appropriate condition for letting, be aware of your legislative obligations, advertise property for rent, find suitable tenant, establish if they are smokers have pets etc, reference tenant/s thoroughly, get comprehensive inventory ideally to include photos, register with an appropriate deposit protection scheme, prepare Assured Shorthold Tenancy agreement for required period, get tenant to sign agreement, collect deposit and first months rent, get tenant to set up a standing order for rent payments, install tenant into property, contact Inland Revenue and let them know you are letting a property. That's about it, I hope I haven’t missed anything out, if I have I’m sure other posters will ad these.

lynzpower

Clutton one of our regualr posters tends to remember how many acts of parliament there are you would need to comply with, as far as I remember , there are more than 50 peices of law you need to understand and be compliant with.

ramborai1987

thanks for the replies esp brixmorta hit the nail on the head. that's all i needed to know

clutton_2

"""that's all i needed to know"" - how astonishingly naive

have you got a BTL mortgage - if not you will be committing mortgage fraud ?

How many tenants ? How many storeys in your house ? Are you running a HMO ? Do you know what a HMO is ? Will you have to register with the council, whether you are a HMO or not ?

"appropriate condition" ? how does a newbie know what this means ? just a few off the top of my head - CORGI certifiicate, electrics checked, non-flammable furnishings, compliance with H&SAW ACTS and HHSRS regs;

What is a "suitable" tenant ? Where should you advertise ?

How will you reference your tenants ? what about credit checks ?

"Prepare" ??? tenancy agreement - what, as in "write your own ?""

I'm sorry Brixmorta - i expect you meant well - but the OP post makes me sooo mad. Its new landlords like this, who dont have a perishin CLUE what they are doing, who come on a largely amateur advice board, and then expect to know exactly what they are doing in a few hours reading - and off they go ........ Offering folks a home, is a serious and complicated matter, and you are playing with peoples lives.

Not to mention that unscrupulous tenants will suss your ignorance out in no time, and could well take you for a ride and you could lose thousands of pounds.

IF you are serious about doing this, join the National Landlords Association, get their magazine, read their website, and read www.singpig.co.uk, and www.landlordzone.co.uk before rushing into a serious legal obligation.

This is not a matter to be taken lightly.

Amateur ignorant landlords give the rest of us a very bad name - and i for one am heartily sick of being tarred with the same brush as that which tars poor landlords who do not take the time to learn their business before rushing in with both feet.

and no, i have not got out of bed the wrong side - i have had a fantastic day !!!!

ramborai1987

haha i must've !!!!ed u off so badddd clutton. gutted on you

clutton_2

that response just shows what an amateur irresponsible landlord you will be - QED

BrixMorta

Clutton, the tone of my reply was supposed to be interoperated as ‘goodness me, what a lot to consider and all this just the tip of the iceberg, better employ an expert then’. I'll try and be a bit more up front next time perhaps.