Letting a home is not just a matter of placing a listing and handing over the keys. Finding the right rent, choosing the right tenant, drawing up a complete contract and documenting the handover — each of these heads off a problem that could arise later. The articles below are what we tell landlords in our daily work, set down in writing.
- I want to let my home: the process from start to finish — The steps to follow when letting your home: preparation, price, listing, choosing a tenant, contract and handover.
- How is the rent set? Comparables and method — What data is used when setting the rent, how comparables are chosen and what holding the price too high costs.
- What should a lease agreement contain? — The clauses a lease agreement should contain: term, rent, payment, deposit, service charge, fixtures and vacating.
- What to look for when choosing a tenant — Reasonable questions to ask when choosing a tenant, proof of income, guarantors and ways to build a long-term relationship.
- How much should the deposit be and when is it returned? — The amount of the deposit, how it is written into the contract, what may be deducted at move-out and how it is returned.
- How is an inventory list prepared? — How to keep a written schedule of the furnishings and fittings left in a let home, and what to watch for.
- Handover, utility transfer and meter readings — What to do when handing over the home: meter readings, transferring the electricity, water and gas accounts, and the handover record.
- How is a rent increase applied and what is the limit? — The legal upper limit that may be applied on renewal, how the figure is worked out and what to do in a dispute.
- Rental income tax: exemption, declaration and expenses — The exemption amount on residential rental income, when to file, and the lump-sum and actual expense methods.
- Eviction and termination: timescales and methods — How a lease comes to an end, the undertaking to vacate, eviction for the owner's own need and notice periods.
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