Jun 12

Buy to Let Checklist

So you have decided to let your property but what next? Here is a tick list of the things you should consider before your tenants move in (in no particular order):

-Make sure you have updated your insurance to take into account that your property is going to be let

-Get the required permission from your mortgage lender

-Obtain approval from the council's planning office (if you plan to make structural alterations to the property or change the property's use)

-Inform the council's Environmental Health Department if you plan on letting as a House in Multiple Occupation (HMO)

-Make sure all furniture and furnishings comply with the latest fire regulations

-Ensure that all gas appliances and equipment have been serviced by a CORGI-registered engineer and that safety records are kept in a safe place

-Make sure that all electrical wiring has been checked and safety approved by a qualified electrician

-Inform the Council Tax department and utility suppliers that the property will be let (relevant if you plan on being a non-resident of a self-contained property).

-Make sure an inventory is conducted on the property

-Prepare an Assured Short hold Tenancy Agreement (AST)

-Protect the tenants deposit with one of the government authorised tenancy deposit schemes

-Advertise your property – think about how your property will be advertised - for example, two bedrooms with a study, or three bedrooms

-Carry out a reference check on your potential tenants

Is there anything else you can think of?

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