Renting out a property - what do I need to do?

ellectrastar

Hi,

Been searching for a similar thread to what I want to ask but not had much luck so posting here. Apologies if this has been done before.

I have a property that is currently let out via an agent. The tenant has just left and I am tempted to let it out myself as I have become a little disillusioned with the service the agent provides.

So I wondered, not having done it before, what do I need to do?

I've checked the government website and can see this listed:

• keep your rented properties safe and free from health hazards
• make sure all gas and electrical equipment is safely installed and maintained
• provide an Energy Performance Certificate for the property
• protect your tenant’s deposit in a government-approved scheme
• check your tenant has the right to rent your property if it’s in England
• give your tenant a copy of the How to rent checklist when they start renting from you (you can email it to them)

The right to rent section is a recent thing I think - I've had a look and can see it provides a list of documents that you need to ask for. As far as I can see you then click the link to check the tenant has the right to rent - I can't go much further with it as it asks for details of the property etc. Does anyone know what else you have to provide? Is this just checking the documents the tenant provides against databases?


What sort of checks do I need to do on a prospective tenant? Is it like a credit check and if so how's the best way to do this/best company to run it through?



I also think you need to get references - what does this actually involve? Is this just a letter or something from a previous landlord? What if there isn't onen? And does it mean I need extra things like evidence of income etc as well?


I was looking to try and find a checklist or guide somewhere, I'm sure there should be one online but I can't seem to find it, so again apologies, I'm not being totally intentionally lazy, just trying to find all the answers in one place!


Thanks in advance.

00ec25

you don't seem very successful with your googling

all you need to know in one place (for England/Wales properties):
https://forums.moneysavingexpert.com/discussion/5180214

read every word of every link in the above as G_M's guide to letting is very comprehensive. There are hundreds of pages and loads of rules and laws you need to know to be a decent landlord, not just a foolish someone relying on an unqualified fly by night letting "agent" to cover for him.

random google result:
https://www.moneycrashers.com/screening-potential-tenants-questions-credit-background-check/

G_M

** Tenancies in Eng/Wales: Guides for landlords and tenants This thread is intended to provide information to both landlords and tenants relating to Assured Shorthold Tenancies (ASTs) in England and Wales.

Topics covered:

* Repairing Obligations: the law, common misconceptions, reporting/enforcing, retaliatory eviction & the new tenant protection (2015)

* Deposits: payment, protection and return

* Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

* Rent increases: when & how can rent be increased?

* Repossession: what if a LL's mortgage lender repossesses the property?

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

ellectrastar

Thanks. I am semi au fait with letting privately as I have another property that I let to people I know, so am aware of responsibilities, deposit protection etc. However I will definitely read through the post as there's a lot of info.

I did a Google but limited it to UK only which is probably why I didn't get the link you posted.

I am still a little unsure as to how I go about it.

So, I advertise in whichever way. Someone approaches to look at the property. I show them round and give them an application to complete, along with a request for references?? And then do a credit check on them? I've looked at somewhere like Experian - they do an instant and a comprehensive check. The comprehensive checks salary, previous landlords, identity and any financial issues so something like this would cover everything I need to know? And then I also need to follow through the right to rent process on the gov.uk website?

Thanks again.

Slithery

It's worth looking at places like OpenRent as they'll do advertising on Rightmove, full tenant referencing, write contracts and deposit registration all for £50 per property - and it's an allowable expense so you'll probably end up paying less than that. It's a no-brainer.

theartfullodger

Amongst other things, comply with more than 100 laws & regulations.

Good luck with that!