Renting a property privately....anyone done/does it?

[Woza]

Hi all,

As above really - looking to cut out the estate agent and all the costs incurred.

Has anyone or does anyone let out a property privately and have they had success?

Would really like to find out more....e.g. what my obligations as a landlord would be etc.

Thanks,

Woza.

[herbialfa]

Things have really tightened up recently as a landlord!

Get yourself an Agent (I know, I know) and pay him to take care of the stress.

[dreamz]

get a solicitor to draft a user contract

make sure ur up with ur laws and deposits etc

and go for it.

i let out 3 properties all private 2 occupied and one just emptied out as i need it.

[B17NNS]

Never used an agent.

Get good landlords insurance - should come with personal liability insurance.
Electrical inspection, not required anually, just at change of tenant.
Gas safety inspection - required annually.
Download a shorthold tenancy agreement from the internet.
Produce a thorough inventory.
Register deposit with the Tenancy Deposit Scheme.

From what I've heard from others, estate agents are great (at receiving rent and taking a percentage) but pretty much useless if there is a problem.

Do a bit of research and save yourself some money.

[Wings]

I rent out privately 15 properties, and as to using an agent, that very much depends on the character of the OP/landlord. If you are an easy going, trusting type of person, then find a hard nose, pull no punches business like agent, for with many tenants today, it can get too personal dealing direct with a landlord, when a good on the ball agent will simply lay down the law and take no nonsense.

[andy c]

Electrical inspection is required every 5 years but if you have appliances with plugs on they will need an annual pat test.

Back of fag packet for a 3 bed detached-
Annual Pat test- £10 per appliance.
5 year Electrical inspection-£100 if it all passes.
Annaual Landlord Insurance-£120
Annual Gas test £60-100.

If the property has more than 3 people unrelated it could be classed as an HMO.

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