Renting my house

fatboyonadiet

Thinking about renting my house out soon and wondered if it's worth getting an agency to look after it or not? A lot have people said don't bother as they don't do anything anyway. Is it worth it? Should I just get them to find and vet the potential renter? Or should I do that myself and with what means? How do I know they're legitimate? Should I get the ready made legal forms from WHSMITH and use them?

Also do I need some sort of gas certificate? What's the norm on deposit and paying rent?

Help! So many questions and so little time!

Doozergirl

:wave:

If you are staying near to your house, I agree that you should manage the letting yourself. An agent will take 10% of your rent for, in most cases, not a lot. It is used mostly by landlords who do not live near their property.

However, I have more peace of mind using an agent to find and reference check tenants for me. They often already have experience of your potential tenants from their previous property. Expensive still - I pay 75% of the first months rent plus VAT for the priviledge, however, they are very quick at getting people in so you may find you will in fact make a little more than searching for tenants yourself.

Make sure your agent is a memberof NAEA (National Association of Estate Agents) or ARLA (Association of Residential Letting Agents)

You will need a gas certificate. If you don't know a plumber, the agent can organise it for you.

if you use an agent, they will take a month's deposit and give you the change once they've taken their cut. The tenant then sets up a standing order to pay the rent directly into your account each month.

Hope this answers your questions!

meanmachine_2

If you are going to rent your property out, for goodness sake don't expect it to be in pristine condition when it is returned to you.

You must factor general wear and tear into your equations.

We've had posters in this board complaining that renters have left their property in a state. Unfortunately, that is what happens. So never think you're going to make as much money from renting as you think you will.

Also bear in mind that if you don't use an agency you have to be personally responsible for any equipment malfunction and you have a duty to get it sorted, and fast. With that in mind I'd get everything checked out before you rent it out.

All combustible furniture as to comply with fire regs. But an agency will tell you all of this before you sign up.

fatboyonadiet

Cheers meanmachine prepared for all that just wamted some info on all the ins and outs and legalaties.