What needs to be done?

We have our house up for sale but are coming round to the idea that it probably wont sell for what we want for it and therfore wont be worth selling for the next few years.

So we are thinking about renting it out.

We are just wondering what we need to do before its “rentable” ??

so far all we have done is the EPC as we had that done for putting itup for sale.

Do we need to put fire extinguishers etc into the house?

This is the house……….

http://www.rightmove.co.uk/property-for-sale/property-18477486.html?premiumA=true

we know we need to paint or redecorate the boys room with somthing more neutral but does the rest of it look ok from the photos?

we will be renting it unfurnished so appliance wise there will be just the oven/hob, is this ok ?

sorry for all the qustions but all help we be welcome!!

Get your boiler certified by a gas-safe installer and fit carbon monoxide sensors, also I would recommend having the wiring certified safe by a sparky. Make sure the doors lock and the windows close. I wouldn’t worry too much about the boys room, only redecorate it if a tenant asks you to. Unfurnished is fine, many people have their own appliances. Get landlord house insurance, and possibly tell your mortgage provider you will be renting it out.

If you’re going to be using a letting agent to manage the property, remember that they are unqualified, lying, duplicitous scum and shouldn’t be trusted, but if you have no choice try to use one that has been recommended to you by another landlord.

My girlfriend has apartments she rents. Tennets always used to scuff/scratch the Walls so charging £50 per wall that needs repainting keeps the scuffs at bay.

Organise 3 month visits, and if you allow pets specify that when tennets leave carpets are to be professionaly cleaned , not a rug doctor from focus. Be very thorough in your inventory and double sign everything.

It’s a renters Market up here, people are expecting much better quality of fixtures etc…

It will be fine, good luck and I hope you Get some nice tennents.

Look into it closely. You need to put the deposit in a scheme, let your insurers and mortgage co know.

Local councils have different rules for rentals – check. will you be letting it as an HMO? (probably not)

You need (around here) landlords gas and electricity safety certificates and fire certificate.

Check o the legal positon re renting it furnished / unfurnished – IIRC different things apply. I personally would let in furnished – it will be easier to rent.

Rent for slightly less than the market rent – this way you get loads of people wanting it so you can pick and chose your tenets. Get referneces

don’t trust agents an inch. Vet the tenents yourself but you will need professional help to get he legalities right.

+1 with TJ not trusting agents. They are only of use if your out of the country and there’s an emergency, such as a water leak.

Just to add my two-pence worth, I have just split form my missus, she and my daughter are staying the house I own so I need to rent somewhere.

I have looked around a lot of places, and there is some nice quality houses out there. As for letting agents….yes they are scum they charge anything from £70-£270 for admin/credit checks….WTF!!!

Then ask for 6-8 weeks rent in deposit…WTF

Found a really nice landlord, she rents me a lovely house, is very honest & helpful. I would never rent through a letting agent now!

we actively avoid agents …

everyone i know who uses an agent has been stuffed around at some point … and NEVER see a whole deposit back !

twice ive rented privately direct with the land lord (found on gumtree)- both times ive had no issues – my dad also rents out his properties this way.

If i had the cash id buy the house off you, looks well nice, posibly laminate floor the fground floor, saves carpet cleaning, otherwise got toagree with the others, oh nad fit a few mains wired smoke alarms, along with co ones.

I would echo what everyone else has said about agents. I’ve had agents try and shaft me as a landlord and as a tenant (and seen them shaft the landlord at the same time in the case of the latter).

Agents will take a mark-up on anything and everything they can, and invariably will charge both landlord and tenant for the same thing (e.g. charging a fee for preparing a lease). Some of the worst abuse is in them using their own tradesmen for repairs – on which they invariably charge a mark-up as well as taking a kick-back.

In terms of preparing the property remove/replace anything that will easily get damaged. Consider giving walls a coat of paint so that they’re unmarked at the start of the tenancy. Take a detailed inventory, and take pictures of the condition of anything and everything.

Make sure you understand the legal requirements – deposit protection, insurance, gas safety certificates etc, and how to fill in your tax return.

Not every tenant is a nightmare, and many will treat you and the property reasonably if you do likewise to them.

If you do use an agent (for whatever reason) then note that the tenants have a legal right to know the name and address of their landlord. The agent will do everything possible to stall on doing this, so I’d suggest cutting out the middle man and writing to the tenants at the property once they’ve moved in, introducing yourself and asking them to highlight to you any problems the agents haven’t resolved.

My wife is an inventory clerk so I’d suggest a very good inventory is worth the £100 or so it costs.

Super-glue the carpet to the floor—I had renters move out in the dead-of-night and they removed the carpets and draperies and took them. I was working in the Middle East at the time and only found out from a neighbor that they had left. If you want to avoid the cost/hassle of having a rental agent, it does help if you live nearby or have friends/relatives who do and can at least keep an eye on the place in passing.

As an ex-tennant, the agent that sorted me out said the owners should bargain on things like a new carpet every 3-4 years, new sofa every 3-5 years, repaint every 2 years etc, so your costs are massively restricted due to normal wear and tear legally. I wouldn’t rent this place unless I never wanted to come back as I know any tennant would probably trash my nice real wood floors and leather sofa etc.

Deposit protection scheme means the days of milking your tenants’ deposit for minor damages are over – you have to show that any costs to put right are fair and reasonable. Wear and tear is to be expected – you can’t demand to have the place back in a couple of years time in exactly the same condition.

As for appliances, I rent unfurnished but would expect fridge/freezer, washing machine, possibly dishwasher – every place I’ve had provides them. People who rent tend to be more mobile and while they may have furniture, they generally don’t want to drag appliances around when they move.

The key thing to remember is that this is a BUSINESS. You’re taxed accordingly and have to familiarise yourself with your legal responsibilities around deposits, safety checks, etc – ignorance is no excuse. Your mortgage’s terms will almost certainly require you to inform them of the change and unless you have loads of equity, expect to be moved to a different rate. Ensure you either have cover for things like boiler repairs or keep a healthy slush fund if things need fixing – if your tenants don’t have hot water they won’t be happy to wait for your next payday to get it fixed. Maintain professional detachment – it’s not your home any more, you may own it but it’s your tenants’ home and they have a right to quiet enjoyment of it. You can’t just nip round to “inspect” whenever you feel like it.

In all honesty, if you’re having to ask such basic stuff, you may be best off just handing it over to an agent to fully manage for you. Whether your sums work out if you do that is another matter. You need to allow for void periods, extra mortgage payments, running repairs, etc. If you’re not at the very least covering your costs, then you really need to consider just dropping your asking price and getting it sold.