Advice for Landlords
There are a number of things to consider when letting out a property that you own and we can help advise you on all areas of property management.
Who are Your Tenants?
Who you wish to market your property too has implications on how your furnish your let. For example student properties are increasingly competitive in the quality of furnishings and if the property is a house in multiple occupation (HMO) there are additional legal responsibilities and a license required.
Furniture and Effects
One of the first things to consider is whether you plan to let a property furnished or unfurnished. There are advantages to both, which will depend on the market you are targetting and the location of your property. If you choose the unfurnished route it may still be advisable to provide a cooker and a fridge freezer. Whatever you do choose to supply with your property, a detailed inventory is a must as is ensuring the property is clean!
There are a number of Regulations for Gas and Electrical appliances that must be adhered to, together with fire and safety regulations. These are periodically updated and we can go through all your legal responsibilities with you.
As a landlord you need to ensure that you have adequate legal protection and the appropriate buildings and content insurance. Whilst we are not able to offer financial advice we recommend Broadland Consultants for these purposes.
Letting out a property has income tax implications, and if you do not have a tax advisor we can recommend one.
You may need consent from your mortgage lender to let out a mortgaged property.
Other things to consider as a Landlord
There are plenty of other things to consider when letting out your property, from choosing the best locations if you are buying to let, to what to include in your tenant information pack. However big or small your question or query, call us on 01603 763363 and we will be happy to help.