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New Landlord? Here Are Some Things To Consider

March 27th, 2018

You don’t need to have a vast property portfolio to be a landlord these days, and if you’re new to renting out a property there are a few things you need to think about.

The Derby Telegraph recently offered some top tips for first-time landlords, ranging from finding the right agent to pre-rental checks.

ARLA Propertymark chief executive David Cox picked up on some of the top things that new landlords should consider. First and foremost is getting the property ready to be rented out. This means ensuring that all essential maintenance has been carried out, and he added that giving it a fresh coat of paint won’t hurt either.

Deciding whether you want to rent your property furnished or unfurnished is the next decision you need to make, he added.

Understanding your responsibilities as a landlord is vital, so make sure you know where you stand in terms of your tenants being able to contact you, as well as check that you’re allowed to rent your home out under your current mortgage deal.

Finding landlord solicitors could be helpful at this stage, with Mr Cox pointing out that there are currently around 150 laws that landlords need to comply with.

These can cover everything from tenancy agreements and deposit schemes to gas safety checks and the installation of smoke alarms.

In fact, the National Landlords Association recently pointed out that there will be more legislation for landlords to consider by the end of the year, which will set out minimum bedroom size standards to prevent overcrowding.

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