Advice sought for soon to be landlord

chappers

Sammy85 wrote: »

Another reason for putting a cooker in beforehand.. gas/electrical certificates. Ours are all permanently fixed in (or as near as dammit) so they're mentioned on the safety certificates and tested as such. But if your tenant gets one installed then who is to say its safe? Was it tested? Did they get "uncle jim" to fit it or a professional...

there is provision for exemption of liabilities for tenant fitted appliances, you would have to check your insurance though as you may not be covered if allowing tenants to fit their own appliances.

Sammy85_2

We dont include any bills with our properties. The only time this could be useful is for a student let or HMO i suppose. When you move the tenants in take the meter readings and ring the utility companies yourself. Give them the numbers and your address and they will send you the bills that you are liable for up to that point.

Im glad we dont have a water meter!! We pay £14 per month which is the water boards standard charge for a 2 bed house in our area. If we were metered im guessing it would be a hell of a lot more.


As for council tax.. thats is definately for the tenants to pay....

Dee140157

Brilliant thank you everyone. I think I have all the bases covered so far. I hadn't thought about the buildings insurance so will get that changed for tenants. read the meters, not put too many white goods in and maybe manage the property myself but with agents getting the tenants. I'll either delay the renting or talk to the mortgagte company. Will consider what sort of tenants I want and read up as much as I can in the meanwhile.

This thread itself is very huge learning experience and I have try to read a few pages each day of posts that may be relevant. I do love mse for all sorts of reasons. BUt the help of others is one of the best reasons for coming here and your advice has been great. No patronising (which I probably deserve being so green!)

moneysavinmonkey

Why are you deciding to get into BTL now?
Would the money tied up in the property not be be better invested elsewhere??
It seems you haven't done the sums yet - e.g. don't know the expected rent/letting agents fees etc? So in the interests of moneysaving shouldn't you calculate the yield/profit before you decide to go any further forward?

Debt_Free_Chick

Just to clarify .... your new mortgage will be a BTL won't it?

sammyjammy

D-F-C, there won't be a mortgage on that property once they've let it.

Sam

Debt_Free_Chick

sammyjammy wrote: »

D-F-C, there won't be a mortgage on that property once they've let it.

Sam

Thanks for that .... I must be imagining things as I could have sworn I saw a reference to a remortgage .......