Guide for Landlords

People rent their properties for various reasons. Some are relocating for a year and just want to cover the cost of their mortgage on their primary residence. Others purchase property solely for investment reasons. As a landlord, you should recognise your primary reason for renting your property. If you are an "absent landlord," it probably makes sense to use a managed service agency to handle your rental property. If you are planning to become a property tycoon, you might want to go it alone.

Before you advertise your property to let:

• Get permission from your mortgage lender to let property (if you do not have a buy-to-let mortgage).
• If you are in a leasehold property, get permission from the head lessee to rent property.
• Make sure your buildings and contents insurance is appropriate.
• Take out lettings insurance.
• Get gas appliances checked in accordance with gas regulations.
• Check that furniture complies with Fire Safety Regulations.

Before your tenant moves in, you should:

• Check your tenant's references.
• Have lease reviewed by a solicitor and signed by all parties.
• Take receipt of deposit (the bond) and first rental payment.
• Do inventory with the tenant, and both of you should sign it.
• Redirect your mail; tenants can't be relied on to forward your post.
• Arrange for all meters to be read and the accounts to be transferred to new tenant.
• Arrange for your council tax to be paid by new tenant.

The day your tenant moves in, make sure:

• The property is as clean and tidy as you wish to find it on the day you take back possession.
• There are instructions for all appliances.
• There are cleaning instructions for any special furnishings.
• All the vital connection points for gas, water and electricity are labelled - Stock cocks, fuses, switches in boiler, etc.
• Security devices - alarms, locks, window locks, etc - are all demonstrated and explained to the tenant.
• Emergency phone numbers are posted and fire extinguisher, smoke alarms and any other safety devices are explained.
• Telephone line is available, and home telephone number is published. You should arrange for account to be transferred to tenant.
• Provide a written procedure for how to handle emergencies (ie. flooding, robbery, fire, etc). The procedure should explain who to contact first, second, etc. When the landlord wishes to be notified.