When renting out a home, there are many things that you need to do so that the tenant can move in. The goal is to make the home as safe as possible as well as to make sure that you are protected should something happen. It isn’t a simple process where you just have to get a tenant and watch the money roll in. There is a process that needs to happen to ensure that the rental process goes as smoothly as possible. A major part of this process is the “renting your house” checklist, containing everything that you need to do before letting a tenant move in.
Make it Safe
Before anything else, the house needs to be inspected and repaired to make sure that it is safe for the new tenants. Landlords are legally obligated to maintain the rental property, so it is important that you handle any repairs that are needed, check for any health issues that need to be remedied, and any other safety issues. The property should also be cleaned up before the new tenants move in. You can do the inspection yourself or you can hire someone to ensure that you catch any problem. Landlords must follow the legislation on rentals to ensure compliance, otherwise there will be hefty fines.
Market the Home Properly
About 55% of renters use specific rental property sites to search for their new rental property. What this means for you as a property owner is that you need to know where to market your property to get the most interest. You can use a letting agent to market your property for you, using their expertise to attract the most attention, or you could try marketing it yourself. You need to make sure that your ad is perfect to stand out, which is why hiring a professional can be great here.
Get the Right Certifications
Landlords are required to offer tenants a valid Gas Safety certificate and an EPC (Energy Performance Certificate) as they start their tenancy. These are things that need to be given to any new tenants that you get as well, otherwise you won’t be in compliance with regulations for renting. In fact, you need to have your EPC rating listed on your property advertising.
Get Your Insurance in Order
You need to have landlord insurance if you are renting out your property. Things happen and this insurance will help make sure that you are protected should something happen. You should have this in addition to any homeowner’s insurance policy that you may have, giving you extra protection for those “just in case” times. Look into the options or ask a professional about what insurance you need for your property.
This is only a small sample of the important items that you need to have on your checklist when renting out a home. As a landlord, it is important for you to know your obligations any laws that are important to know about renting. These are things that a good letting agency can help you with, especially if you are new to renting out property.