Renting my house out - Advice needed

[theboyfold]

I'm moving abroad in the early part of next year, and I thought I had it sorted that my current lodger was going to rent my house with a mate of his, which was the answer to a massive headache... However tonight he's told me that he doesn't want to do it and I have to put it on the market.

I start my new job Jan 16th, which doesn't leave me much notice.

So could the PH Massive help me out with advice, hints and tips and anything else they have found useful, would do different;y, fees I need to look out for, anything at all they can think of!

Things that I've got sorted so far:
-Mortgage that allows me to rent
-Accountant to help me with tax etc
-2 valuations from local estate agents.

Thanks in advance
tbf

[SPR2]

DO rent it through an agent, possibly property letting only agents are better than estate agents.
Make sure regular house checks are done[3 monthly]
At least 2 months deposit plus 1 months rent up front.
Seperate insurance to cover any damage done by tenants if 'moonlight flit' happens.

This is advice from a recent family experience.

[theboyfold]

SPR2 said:

Make sure regular house checks are done[3 monthly]

Is this something I should do, or the agent should do? Bearing in mind I'm going to be abroad, I'm guessing I can appoint somebody to do this for me?

And I assume that you mean once every 3 months, rather then 3 a month?!

[Catz]

As you're going abroad an agent will be much easier for you.

However, I'd want to see potential tenants myself and choose who I'd want. Somehow you just get a "feeling" for who will be right for your property, although I suppose the number of potential tenants depends on where it's located.

[The Tea Boy]

OP, as you will be abroad i would suggest you go for a managed service, what area of the uk are you in? you need to look out for the set up costs, the monthly comm us agents take eg mine is 12.5% as mentioned earlier check to see how often the periodic visits are, what the agent charges if you need possetion of the property back or if you need to evict the tenant and what insurance policys they offer etc etc please feel free to pm me and i can send you more info on what i charge in Nottingham and i maybe able to point you in the right direction as i work for a large residential lettings company. also as mentioned companies that do just renting are better than most of the estate agent boys as they have only started to do this out of need and know very little about how everything works for example you now need to get an energy performace cert (EPC) beofre you start marketing a property as the fine if caught is £200 per day to Mr Brown, also gas safety cert etc like i say pm me and ill send you more details.

HTH

Matt

[smack]

Where in Berkshire is your house?

[theboyfold]

smack said:

Where in Berkshire is your house?

Just from Jct 5 on the M4, why do you ask?

The Tea Boy said:

OP, as you will be abroad i would suggest you go for a managed service, what area of the uk are you in? you need to look out for the set up costs, the monthly comm us agents take eg mine is 12.5% as mentioned earlier check to see how often the periodic visits are, what the agent charges if you need possetion of the property back or if you need to evict the tenant and what insurance policys they offer etc etc please feel free to pm me and i can send you more info on what i charge in Nottingham and i maybe able to point you in the right direction as i work for a large residential lettings company. also as mentioned companies that do just renting are better than most of the estate agent boys as they have only started to do this out of need and know very little about how everything works for example you now need to get an energy performace cert (EPC) beofre you start marketing a property as the fine if caught is £200 per day to Mr Brown, also gas safety cert etc like i say pm me and ill send you more details.

HTH

Matt

I'll be in touch in the next couple of days if that's ok? Got serious jet-lag at the moment and the grey matter is slowing to a crawl!

[smack]

theboyfold said:

smack said:

Where in Berkshire is your house?

Just from Jct 5 on the M4, why do you ask?

PM sent

[Busamav]

Ideal for Heathrow , and if you like plane spotting

[bigburd]

theboyfold said:

SPR2 said:

Make sure regular house checks are done[3 monthly]

Is this something I should do, or the agent should do? Bearing in mind I'm going to be abroad, I'm guessing I can appoint somebody to do this for me?

And I assume that you mean once every 3 months, rather then 3 a month?!

Get the agent to do it after all that is what you pay them for, not forgetting to get written report - paying particular attention to deviation from contract ie Pets, Smoking, Upkeep of garden etc

[sjg]

SPR2]Make sure regular house checks are done[3 monthly said:

I've never had that and would object to either having to make myself available for them or having the landlord/agent traipsing through the place.

[theboyfold]

One other issue that I have with the place, is that it has a large (3m x 4m) pond in the back garden. I'm not sure if this is a good or a bad point, I'm guessing parents with small kids would see this as a major negative??

[bigburd]

sjg said:

SPR2]Make sure regular house checks are done[3 monthly said:

I've never had that and would object to either having to make myself available for them or having the landlord/agent traipsing through the place.

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

I know someone who rented a house and had 6th checks, she was allowed a dog but not a cat (a cat moved in !!) so with sufficient notice she was able to "disguise the fact".

[Geronimo]

bigburd said:

sjg said:

SPR2]Make sure regular house checks are done[3 monthly said:

I've never had that and would object to either having to make myself available for them or having the landlord/agent traipsing through the place.

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

I know someone who rented a house and had 6th checks, she was allowed a dog but not a cat (a cat moved in !!) so with sufficient notice she was able to "disguise the fact".

Allowing a dog, not a cat! Bit odd, I can imagine they're worried about some shredded furniture but if they're that houseproud then surely they'd not want their house reeking of stinking dog. Oh well, to each their own.

[option click]

bigburd said:

sjg said:

SPR2]Make sure regular house checks are done[3 monthly said:

I've never had that and would object to either having to make myself available for them or having the landlord/agent traipsing through the place.

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

I know someone who rented a house and had 6th checks, she was allowed a dog but not a cat (a cat moved in !!) so with sufficient notice she was able to "disguise the fact".

+1 on checks.

Recently did the first check on my tenants to discover that they had taken it upon themselves to redecorate the entire house in colours that would make Llewelyn-Bowen wince.

[sjg]

bigburd said:

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

They can put those in, it's another matter enforcing them as a tenant can simply refuse entry - same goes for allowing viewings towards the end of the tenancy. Entering the property without permission (unless for emergency repairs - broken water pipe, etc) can have quite severe repercussions.

It may be your house but it's the tenant's home and they're entitled to peaceful enjoyment of it.

[option click]

sjg said:

bigburd said:

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

They can put those in, it's another matter enforcing them as a tenant can simply refuse entry - same goes for allowing viewings towards the end of the tenancy. Entering the property without permission (unless for emergency repairs - broken water pipe, etc) can have quite severe repercussions.

It may be your house but it's the tenant's home and they're entitled to peaceful enjoyment of it.

Landlord's Access to the Rental Property
The landlord must give the tenant at least a two-day notice of intent to enter the property at reasonable times. The law states, however, that tenants must not unreasonably refuse to allow the landlord to enter the rental when the landlord has given at least one day's notice of intent to enter at a specified time to show the dwelling to prospective or actual buyers or tenants. Tenants also must not unreasonably refuse the landlord access to repair, improve, or service the dwelling. In case of emergency, the landlord can enter without notice.

http://www.direct.gov.uk/en/HomeAndCommunity/Buyin...

Simply refusing isn't good enough I'm afraid.

[SPR2]

bigburd said:

sjg said:

SPR2]Make sure regular house checks are done[3 monthly said:

I've never had that and would object to either having to make myself available for them or having the landlord/agent traipsing through the place.

I think you find most contracts include a clause allowing for routine checks whether that is 3,6 or 12 months and it will most probably be the agent. Obviously there would also be something in there where they have to give you reasonable notice.

I know someone who rented a house and had 6th checks, she was allowed a dog but not a cat (a cat moved in !!) so with sufficient notice she was able to "disguise the fact".

The cat moves in -- uses staircase and door frames as scratching poles -tenants leave -but when you get to the house wretched cat is trying all ways to enter the property.

T House checks

[sjg]

option click said:

Landlord's Access to the Rental Property
The landlord must give the tenant at least a two-day notice of intent to enter the property at reasonable times. The law states, however, that tenants must not unreasonably refuse to allow the landlord to enter the rental when the landlord has given at least one day's notice of intent to enter at a specified time to show the dwelling to prospective or actual buyers or tenants. Tenants also must not unreasonably refuse the landlord access to repair, improve, or service the dwelling. In case of emergency, the landlord can enter without notice.

http://www.direct.gov.uk/en/HomeAndCommunity/Buyin...

Simply refusing isn't good enough I'm afraid.

That's not on what you linked to. Which law states "that tenants must not unreasonably refuse to allow the landlord to enter the rental when the landlord has given at least one day's notice of intent to enter at a specified time to show the dwelling to prospective or actual buyers or tenants"?

[Mark Benson]

One note on your mortgage - you need to get a 'consent to let' from your lender if you're not on a specific BTL mortgage.
Usually all it takes is a call or visit to your building society, some people might advise you it's not strictly necessary, but it's a legal requirement (I believe).

Make sure you shop around for gas and electricity tests and don't go with agents recommendations unless they happen to be the cheapest.

Try and get a recommendation on the agent you use, some are shysters and being a letting agent should be a full time job - some don't see it that way and leave properties unchecked for long periods (typically between tenant changes) leading to small problems becoming big ones as they remain unchecked. 10-12% is about the norm, don't assume more commission = better service though.

Finally, remember a tenant probably won't treat your house and furniture as you would, so be prepared for a shock if you leave nice things in the house for them.