Are you thinking about becoming a Landlord?

Posted on Monday, October 17, 2016

If you’re thinking about letting your property, there are a lot of factors to consider. Who do you let it to? Do you employ a management agency? What sort of regulations do you have to be aware of?

Your Property

As a landlord you need to ensure that your property is safe, therefore a number of tests have to take place. These include a Portable Appliance Test and Electrical Installation Condition Report (electrical safety tests) and Gas Safety test. 

You might need to make changes to your property to make it more attractive to tenants. Obvious repairs need to be undertaken to ensure that it’s easier to let your property out easily, and you may also want to consider repainting and freshening up your rooms.

A professional deep clean, and an independent audit of everything in the house, are also considered essential.

Your Legal Documents

You need to check your mortgage to ensure that you CAN let your property, as well as what sort of tenancies are permitted. You will need to inform your lender in any case, as it is a legal requirement.

Find out what insurance you need too, as you will need specific insurance as a landlord, and also talk to your accountant about the tax implications of your extra income. You may need to compete an annual self assessment tax return.

Flatmans offers a buy-to-let service offering information to those who are taking their first steps in the rental industry, curious about property investment, or have a growing portfolio of buy-to-let properties. Our exciting buy-to-let services offers a full range of features and benefits, which includes

  • Exclusive access to buy-to-let investments, prior to being available to the wider market;
  • One seamless process, from point of purchase to tenant sourcing;
  • Finding a tenant to move into your property on the day of completion, earning you a return from day one;
  • Free rental protection, just to be safe;
  • Free property advice, from one of our local experts;
  • Free invitation to buy-to-let seminars, interact and share stories with those with similar interests;
  • And regular property updates & news, keeping you one step ahead.

Sign up to our buy-to-let service