To Let A House

Things To Consider When You Chose To Let A House Out To Tenants

If you are planning to let a house out then you will need to think about a few practical issues which may affect cost of letting out the house and the overall condition of the house at the end of the tenancy period.

You can decide to take control of all the advertising, interviewing, credit checks, maintenance and payments yourself or you can decide to use a letting agent who will take responsibility for all or some of these responsibilities.

If you are a property investor with time on their hands or you have access to dedicated staff, it may be more advisable to shoulder the responsibilities involved as you will already be performing some of this tasks.

If you are landlord with little time then you may be better off just leaving the property to a qualified estate agent.

If you have a lovely property that you know is in a good location and that it will appeal to a variety of possible tenants then placing your own advert can be the cheapest and easiest option.

However you will need to make sure that you are able to find out the background information that will confirm your tenant is reliable and that they are able to afford to pay the rent.

If you have a property that is a little run down or in need of refurbishment then you may be willing to forego the credit check and rely upon your instincts (whilst asking to see identification, an employment contract, bank statements,proof of income etc.) as your tenant' social profile may be lower than a professional family who demand higher quality accommodation.

If you are planning to let a house to students then it would be wise to ask for a parent or guardian to be a guarantor for the rent. This way if the student does not pay you will be able to claim the money from the guarantor.

The situation is very similar if you have a potential tenant who is claiming benefits, they may be able to provide a guarantor or be able to provide references from a previous landlord or letting agent.

In all cases you will want to request a deposit that covers the equivalent of at least one month rent and can be used at the end of the tenancy agreement to cover any cleaning or repairs that may be necessary.

It is also possible to safe guard this deposit by opening an account with the safe deposit scheme managed by certain organisations which can come in handy if you have a landlord tenant issue where you may feel the deposit cannot be paid back to the tenant or some of the deposit may be needed to cover damages incurred by the tenant.

The current scheme that's available to landlords and tenants ensures that you as a landlord maintain your credibility whilst giving your tenant the security of knowing his or her deposit is been looked after by an independent body.

If the tenant leaves the property in good condition with only reasonable wear and tear then you will be obliged to return the deposit.

Whether you decide to advertise and manage your property yourself or you believe an agent would be an easier option, you will still need a contract that has been prepared by a specialist lawyer or an agency.

Alternatively you can purchase tenancy agreements from on line sources which are actually drafted by lawyers and are considered legally binding before any court, adjudication or arbitration body in the UK.

Both landlord and tenant have responsibilities when they agree to let a house - the contract will make it clear exactly what both parties can and should expect.

If possible ensure you also have an inventory list which consist of the details of all the valuable contents of the house to let including the conditions these items were in before they the property was let out to the tenant.

Both parties must also sign these document prior to letting the property as this document may be called up should you need to carry out repairs with the tenants deposit.

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