How To Be Safe Rather Than Sorry

If you are a new landlord what should you do when you want to find a tenant? The best way to go about this if you are inexperienced in this field is to find a good letting agent. You can either go on line for this or you can ask people you know who have been in a similar position such as yours.

Before you start, however, you must have an idea of what your expenses are when you buy a letting property. You may have a mortgage which needs paying every month. Taxes may come into play and, of course, there is maintenance to consider.

Against the outgoings you should place the income that your letting property is going to generate. If you have no idea of this, you can help yourself by looking at similar letting properties in the area your house is situated.

If your income is greater than your outgoings, it stands to reason that it will be beneficial to you to let your property.

If you are going to let your house on a furnished basis you may want to have a look on line for living room furniture sets for your home that are available from many places there. People who like furnished accommodation are mostly the ones that are in the middle income bracket or just below as they will not have as much money to buy items themselves.

People with more disposable income may want to bring their own stuff. Do remember that if you let your house on a furnished basis, you should certainly make a detailed inventory. This will prevent disputes later if things go missing. Another thing to consider is that you will be responsible if anything breaks and it needs to be replaced.

The minimum that you must provide in an unfurnished property are the white goods in the kitchen such as fridges, dishwashers and washing machines. These are also available from the same furniture specialists on line.

A letting agent will do most of the work for you such as drawing up documents and vetting your tenants.