ADVICE PLEASE want to rent my house out

DRAKE77 · 24-02-2010, 17:05

Hi guys i currently live in accrington and am moving away, i would like to rent my two bedroomed house out, never done anything like this just wondered if anybody had any advice. thanks

Retlaw · 24-02-2010, 17:21

Quote:

Originally Posted by DRAKE77

Hi guys i currently live in accrington and am moving away, i would like to rent my two bedroomed house out, never done anything like this just wondered if anybody had any advice. thanks

Be very very careful, some of the agencies around will dump scum in your property, who will then trash it, and some agencies will pretend the tenants defaulted on the rents, some of the scum will also run up ginormous utility bills and leave you with the results.
An old saying.
An empty house is better than bad tenants.

Retlaw

shillelagh · 24-02-2010, 17:23

my brother rented his house out .. he got the gas and electric meters changed to pay as you go so something like that wouldnt happen to him.

lindsay ormerod · 24-02-2010, 18:22

My advice would be to rent it privately if you can, no agency , and try to rent to someone you know or who is recommended to you. Don't rent to immediate family because they would not be able to claim any housing benefit/ council tax benefit if they needed to because of the relationship. Draw up a proper tenancy agreement and get a deposit/bond off the tenant. State that it's non returnable if the house is left in a state or there are unpaid bills, at least it will go some way to covering your costs. Most landlords want a month's rent upfront as a bond, but you could ask for more plus references.
Good luck!

Neil · 24-02-2010, 18:35

Quote:

Originally Posted by Retlaw

some of the scum will also run up ginormous utility bills and leave you with the results.

The person responsible for the gas and elec bills is the person who signs up for them and not the house owner.

cashman · 24-02-2010, 18:38

Quote:

Originally Posted by Neil

The person responsible for the gas and elec bills is the person who signs up for them and not the house owner.

is that not the way it should be. but not how it works? i agree wi lindsey get yerself tenents n get a bond.

Ken Moss · 25-02-2010, 06:30

Quote:

Originally Posted by DRAKE77

Hi guys i currently live in accrington and am moving away, i would like to rent my two bedroomed house out, never done anything like this just wondered if anybody had any advice. thanks

It can be a huge hassle as a private landlord and my personal advice would be to go through an estate agent. You won't earn as much as doing it on your own but they do all the legwork for you and you don't have to worry about chasing failed payments because you're guaranteed to get them.

The private landlord industry is an area that really needs some legislation. All the legitimate ones are fully in favour of it to whittle out the chaff and it would prevent areas from being run down by companies that don't care who they put into their houses. I'm looking at you, Home Trader.

jelly baby · 25-02-2010, 14:56

My son rented his property and had a local estate agent manage it for him. They vetted the tenants, and my son made certain provisos (non smokers, no dss, no pets). For him all went well, the tenants stayed for around 2 years. They signed a short term (6mths) tenancy agreement, then monthly agreements after that.
The agent checked the property about once every 4 months or so (by appointment with tenants) to make sure all was ok.
My son paid approx 10% of the rent in agent fees.

lancscat · 26-02-2010, 17:50

sharp estate agents are very helpful and proffesional if your looking to rent out your house ,contact them on 01254 387001

archiveuk · 10-03-2010, 16:50

Just a couple of points...
Check with your mortgage company. (if you have a mortgage?)
And change your Property Insurance to a landlords policy. (PM me if you need more info on either of these, I'm a financial adviser BTW)
....and don't forget to keep accounts relating to all financial aspects... the rental income would be tax assesable?

kimmin · 23-03-2010, 17:47

I have had some contact with 'Rent the House' and they seem very efficient and geared up for acting as agents for landlords- they are on little Blackburn Road,ACCY.

Zeya · 26-03-2010, 12:44

Estate agents are best it eases the stress of yourself as well