What information do you need to consider when thinking of letting out your property?
Prepare the Property
You will need to decide whether you want to let your property out furnished or unfurnished. It may help to consider the type of Tenant you want to attract. If you are decorating and including soft furnishings, a neutral décor is usually best.
The safety of your Tenants is of the utmost importance, so you will need to ensure that your property passes all the relevant safety checks and standards. Globe Apartments can assist and advise you as to the best practice standards in terms of Gas and Electrical safety in your property.
Having a professional inventory taken at the commencement of a tenancy is also important. It can greatly assist if there are any disputes at the end of a tenancy.
Ensure you are compliant
If you own your property subject to a mortgage, or if you are a leaseholder, you may need to check with your mortgage provider or Freeholder to ensure you are allowed to sublet your property.
All rental income is taxable but what and how much you will pay depends on your personal financial circumstances. Please check with your accountant or HMRC. In the event that you are living outside of the UK for more than 6 months, it is essential that you register with the Inland Revenue for the “Non-Resident Landlords (NRL) Scheme”.
What do you want from your Letting Agent?
We offer a number of management services for Landlords. Whether you simply require a suitable Tenant, or need assistance and advice with all matters relating to the tenancy on-going, Globe Apartments have a solution to suit your needs.
Call or email us today and one of our friendly advisors will talk you through everything you need to know about letting your property and how we can help.