So, you’re thinking of renting your property out. There are several reasons for renting out your home. Maybe you are trying to sell it, but it is taking too long, and you want to get a bit of income from it.
Alternatively, it could be that it is your second home, and you want to make some money when you aren’t living in it. Or, perhaps you’d like to make a career out of being a landlord.
To help you on your way, we have created this handy guide on how to get started renting out your home.
The first things you need to consider before starting the process is whether you want to offer the property furnished or unfurnished.
If you are offering it unfurnished or part furnished you may need to look at storage options if you currently have belongings in there.
If you choose to offer the property furnished you also need to consider whether you want to use your own furniture or buy cheaper furniture in case it becomes damaged. You will also need to ensure your furniture is compliant with The Furniture and Furnishing (Fire Safety) Regulations 1998.
The second question to ask yourself is whether you want to offer short term or long-term rental. This all depends on whether you are expecting to sell the property soon, or if you want to live in it at any point.
Just like when selling a property, you should think about the current condition of your home. Make sure it looks neat, and tidy so that it helps to attract tenants.
Here are some tasks you can consider doing before renting out your property:
Making sure the little details are covered will make the property more attractive and easier to rent out.
When the letting agent has found a suitable tenant, or tenants, they will arrange for all the paperwork and checks to be completed.
You will need to sign the tenancy agreement which will be sent to you during this time but the letting agent will manage most of the process other than this. You may also wish to meet the tenants before they move in, but this is your choice.
Before they move in you will need to consider who will be managing repairs and maintenance to the house. If you are great at DIY and have some time on your hands, you may want to give the tenants your contact details so you can come and complete any repairs.
However, if you don’t have the time or the skills required your letting agent will
As leading letting agents in Newbury, Lambourn & Hungerford, Marlborough, Devizes and Didcot, we have a wealth of experience in supporting landlords in renting out their properties.
We understand that every property and landlord is different and that landlords let a property for a variety of reasons.
Being a first-time landlord can be stressful. Therefore, we ensure we simplify the process as much as possible, so you don’t need to do more than is necessary. We will walk you through each step, to ensure you are happy and fully informed, we will always stay in contact with updates throughout from viewings even to during the tenancy itself.
You will also find when renting out your home through us is that we always put our landlord’s requirements first. This means we will manage tenant queries at the first point of contact to reduce any hassle. Freeing up your time for the important things.
We will also ensure deposits from your tenant are kept safe through the Deposit Protection and Tenancy Deposit Schemes which we are members of. This means you can feel satisfied that the deposits are in safe hands.
We understand that every rental varies, and that each landlord is different in their approach. Some may want to play an active part in the maintenance and upkeep, whereas others may want to have nothing to do with the daily running of the property and only want the monthly income.
Whichever type of landlord you want to be we are happy to support you and offer a tailored service to match your requirements and ensure you get the best rental agreement solution for you.
To understand how we can tailor fit a service for you, contact us to speak to our expert letting agents.