Steps You Must Take Before Renting Your Barnsley Property
Wed 18 Oct 2023
Before you start renting out your property in Barnsley, there are a few steps you need to take first.
Being a landlord for the first time can feel very overwhelming. Several things need to be done before renting your property, such as making repairs, fulfilling legal responsibilities, doing administrative tasks, locating tenants, and signing contracts.
But do not worry about it.
When you work with a reputable letting agent, they will help you understand the ins and outs of the entire procedure. And they can complete most of the work on your behalf. In this article, which should take around three minutes to read, we will review some of the most essential actions you must follow before renting out your house.
Contact a local agent.
You will want to have an estimate of the monthly rent you can collect before you begin marketing your property. Although searching Rightmove or other sites for comparable houses in the neighbourhood might be helpful, the most accurate estimate will come from speaking with an agent. They will give you an estimate of how much money you can make each month and advise you on how to make the home more appealing to tenants and who those tenants might be.
Check with your Mortgage Lender
When renting out their houses, most landlords take advantage of buy-to-let mortgages. Please consult a mortgage broker to negotiate the most favourable terms for purchasing a home to use as a rental property. On the other hand, if you only rent out a house briefly and plan to move back in, you can keep your regular residential mortgage. This is because you are only renting out the property temporarily. You will need to obtain "consent to let" from your lender to rent out your property. Only move tenants in after you have discussed the matter with your lender.
Get your property in order.
Whether it just needs a new coat of paint or a complete makeover, the appearance of a rental home should be one that is current and tidy to attract tenants. Maintain a simple and uncluttered aesthetic in the room's design. If you are renting out a property that is already furnished, you need to ensure that the furniture is in satisfactory condition.
First, check that all gas and electrical appliances have been fitted securely. If you are going to leave small electrical gadgets on the property, you are required to have them PAT assessed. In addition to that, we will require that you produce an Energy Performance Certificate.
Wellness and Risk Management
You are obligated by the law to ensure the well-being of your tenants. These are the following:
Installing and testing smoke alarms and carbon monoxide detectors, provide an annual gas safety certificate. Following fire regulations for your property (this is particularly important for flats or houses that have been converted into flats) Observing fire laws for your property is crucial (especially true for flats or houses that have been converted into flats), so be sure to do so. Conduct a thorough inspection of your property to identify potential dangers, such as broken windows, uneven staircases, and other similar issues. Before renting your house, you should consult with a letting agent to ensure that you have complied with all the legal requirements.
Insurance coverage
You are liable for the upkeep of the property and the management of any necessary repairs if you are the landlord. It is crucial to safeguard yourself and your cash by purchasing building insurance. In addition to that, landlord insurance is helpful.
Letting Agents in Barnsley and Surrounding Areas
Do not hesitate to contact Ian Butcher, Holly Butcher, or Mel Peel from our lettings team if this is your first time acting as a landlord. We can find tenants and manage all the necessary administrative tasks, including credit checks, reference checks, and the tenancy deposit protection system.
Being a landlord for the first time can feel very overwhelming. Several things need to be done before renting your property, such as making repairs, fulfilling legal responsibilities, doing administrative tasks, locating tenants, and signing contracts.
But do not worry about it.
When you work with a reputable letting agent, they will help you understand the ins and outs of the entire procedure. And they can complete most of the work on your behalf. In this article, which should take around three minutes to read, we will review some of the most essential actions you must follow before renting out your house.
Contact a local agent.
You will want to have an estimate of the monthly rent you can collect before you begin marketing your property. Although searching Rightmove or other sites for comparable houses in the neighbourhood might be helpful, the most accurate estimate will come from speaking with an agent. They will give you an estimate of how much money you can make each month and advise you on how to make the home more appealing to tenants and who those tenants might be.
Check with your Mortgage Lender
When renting out their houses, most landlords take advantage of buy-to-let mortgages. Please consult a mortgage broker to negotiate the most favourable terms for purchasing a home to use as a rental property. On the other hand, if you only rent out a house briefly and plan to move back in, you can keep your regular residential mortgage. This is because you are only renting out the property temporarily. You will need to obtain "consent to let" from your lender to rent out your property. Only move tenants in after you have discussed the matter with your lender.
Get your property in order.
Whether it just needs a new coat of paint or a complete makeover, the appearance of a rental home should be one that is current and tidy to attract tenants. Maintain a simple and uncluttered aesthetic in the room's design. If you are renting out a property that is already furnished, you need to ensure that the furniture is in satisfactory condition.
First, check that all gas and electrical appliances have been fitted securely. If you are going to leave small electrical gadgets on the property, you are required to have them PAT assessed. In addition to that, we will require that you produce an Energy Performance Certificate.
Wellness and Risk Management
You are obligated by the law to ensure the well-being of your tenants. These are the following:
Installing and testing smoke alarms and carbon monoxide detectors, provide an annual gas safety certificate. Following fire regulations for your property (this is particularly important for flats or houses that have been converted into flats) Observing fire laws for your property is crucial (especially true for flats or houses that have been converted into flats), so be sure to do so. Conduct a thorough inspection of your property to identify potential dangers, such as broken windows, uneven staircases, and other similar issues. Before renting your house, you should consult with a letting agent to ensure that you have complied with all the legal requirements.
Insurance coverage
You are liable for the upkeep of the property and the management of any necessary repairs if you are the landlord. It is crucial to safeguard yourself and your cash by purchasing building insurance. In addition to that, landlord insurance is helpful.
Letting Agents in Barnsley and Surrounding Areas
Do not hesitate to contact Ian Butcher, Holly Butcher, or Mel Peel from our lettings team if this is your first time acting as a landlord. We can find tenants and manage all the necessary administrative tasks, including credit checks, reference checks, and the tenancy deposit protection system.