Becoming a Landlord.

tractortiger

I bought my home, moved into my boyfriends house and am going to rent mine out - at present fixing it up and painting magnolia. I am still paying water, council tax and electric bills. I have contacted an estate agent to handle the first part of the tenancy. Do I let any of these know I am not living there?

I want to do everything right. I am clueless and need help where to go next. I need landlord insurance - which is the best place? Do I get this before I get a tenant?

what else do I need to do

Pixie5740

Assuming this is in England or Wales read:

New Landlords: Advice and information for new landlords

Letting Agents: tips for how to select/how to sack

Guest101

tractortiger wrote: »

I bought my home, moved into my boyfriends house and am going to rent mine out - at present fixing it up and painting magnolia. I am still paying water, council tax and electric bills. I have contacted an estate agent to handle the first part of the tenancy. Do I let any of these know I am not living there?

I want to do everything right. I am clueless and need help where to go next. I need landlord insurance - which is the best place? Do I get this before I get a tenant?

what else do I need to do

Read the links provided by Pixie, then come back and ask for clarification on anything.


**being clueless and starting a business are rarely a good combinatiom

marliepanda

Let council tax know you're not living there. Council also needs to know you're at the boyfriends place.

Letting your mortgage provider (if you have one) know you're renting is the big one you haven't mentioned so hopefully you've sorted that

Guest101

marliepanda wrote: »

Let council tax know you're not living there. - unless the property is unfurnished AND the council runs a unoccupied property discount scheme the OP would remain liable for the council tax (and infact may even be liable for more than if she claimed under the single person occupancy. ) Council also needs to know you're at the boyfriends place. - strictly speaking they don't. They just need to know that the boyfriend is no longer entitle to SO rate.

Letting - Asking* your mortgage provider (if you have one) know you're renting is the big one you haven't mentioned so hopefully you've sorted that

Getting consent to let isn't about telling anyone anything, it's asking for permission

G_M

and if its a leasehold flat or house, you might need permission from the freeholder.

Cakeguts

You need to look at the rental market in your area so that you can assess whether your property is somewhere that tenants are likely to want to rent. Not all houses are. It isn't the case that you can easily let any property to good reliable tenants. Some properties are difficult to let and only attract the kind of tenants that need a lot of management. You have to be able to pay the mortgage if you don't have any rent coming in. You also need to consider what you would do if the tenant wrecks the house. Don't leave anything in the house that would upset you if it got damaged or lost.

marliepanda

Guest101, I never said why she needed to let them know, but she still does. The councils own policy is irrelevant to needing to let them know she's no longer resident. Being a bit bit picky for no reason there I think.

Guest101

marliepanda wrote: »

Guest101, I never said why she needed to let them know, but she still does. The councils own policy is irrelevant to needing to let them know she's no longer resident. Being a bit bit picky for no reason there I think.

Apologies, perhaps I was presumptuous. One might suggest this to make use of a discounted rate and I was explaining why this may or may not be possible

marliepanda

Guest101 wrote: »

Apologies, perhaps I was presumptuous. One might suggest this to make use of a discounted rate and I was explaining why this may or may not be possible

Oh I'm sadly very aware of landlords thinking it's none of their concern once they leave! (and also being furious their tenants have used up some unoccupied discount! But that's another story haha)

tractortiger

ok maybe clueless was the wrong word. More anxious and worried I have to have everything covered - make sure its all right. I have no mortgage so this is no problem.

I shall read the links Thank you. I have found a few other threads on here I shall read through too. Thanks all