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Friday, 22 January 2010

What do I need to do before renting my property out ?

Here is a useful checklist I give to my clients
CONTACT:
Mortgage lender for permission to let.
Freeholder if property is leasehold, for permission.
Buildings/Contents insurers inform them of change of circumstances.
( i.e. property now empty, you are going abroad, going to let )
Utilities and service companies
Local authority (council tax)
Mail redirection service.
Inform them all of the date you are moving.
Energy Performance Inspector for an Energy performance certificate.

MAINTENANCE:
Complete any outstanding repairs and Health & Safety modifications.
Arrange Gas safe inspection - obtain Landlord safety certificate.
Electrical inspection - obtain a portable appliance test, and (if the property has not been inspected within the last 5 years) a wiring certificate.
Smoke alarms (if fitted). Test and ensure they are working correctly.

SUPPLY YOUR AGENT WITH:
Your new contact details (address, phone, fax, email).
2 sets of keys to the rented property.
Any service agreements and signed tenancy agreements prepared by Tudor.

GOING ABROAD?
Inform your Accountant.
Apply to your Tax Office for an Exemption Certificate.
Ask your Solicitor to draw up a Power of Attorney
(for signing agreements and insurance claims)