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How to Rent Out Your House

Letting out a house or flat can be a complex and time-consuming process; however if done correctly it can be financially rewarding. Before renting out a property, carefully prepare by having a plan of action for each stage. This will ensure you have the right estate agency, tenants, and that the process goes as smoothly as possible.

Do Your Research on Comparable Properties

Looking on estate agent websites at similar properties can help to gain an understanding of how much rent should be asked for. This is a good time to assess how best to advertise and describe the property before going to the estate agent (e.g. two large bedrooms with a small living room or one small bedroom, one large bedroom and a large living room).

Find an Estate Agent

Choosing a letting agent is one of the most important steps – the work involved for an agent to successfully let a property should never be underestimated, so someone with experience dealing with viewings and negotiations is crucial.

In addition, an agent with a knowledge of the local market and the type of rental prices being achieved in the area will go a long way.

Different estate agents offer different services – from addressing the legal aspects of the let on your behalf, to collecting rent and managing the running of the property. Agents fees will vary based on the services offered ; so be sure to use netanagent to compare what each can offer.

Prepare to Let Your Property

When preparing a property for estate agents to photograph and for potential tenants to view, it’s important to address both the interior and the exterior of the property.

How to improve the outside of your home

Tidy up both the front and back garden. Cultivating an appealing outdoor environment requires a lot of tools but is most likely going to be the first thing a potential tenant will see, so cutting the lawn and clearing the leaves is essential.
Remove any blemishes in the walls and patios. A pressure washer is ideal for this, but a brush or cleaning kit is a cheaper option and will suffice.
Ensure all rubbish is out of sight.

The second thing to consider is the interior

Make repairs to any issues such as leaky taps or blown light bulbs.
Give the place a thorough clean, particularly the carpets – as they can hold onto bad smells such as pets or cigarette smoke.
Remove clutter. More space can be created by tidying away personal items. The tenant will get a much better impression of the place if it is tidy and clear of unnecessary objects.
Stage the home. If you are not using a room for its traditional purpose, rearrange it to ensure potential tenants can visualise themselves in the space. For example, if you are using a dining room as an office/living room, put in a dining room table to show tenants what the space could be for them.

Improving the interior and exterior of the house can make a huge difference to how much rent you can charge as well as the time it takes to get a tenant into your house.

Screen Potential Tenants

A bad tenant can lead to problems in the long run, so be sure to extensively screen potential occupants before allowing them to sign the lease. This should start with an application which your estate agent can provide.

Be sure to check:

Current income level
Credit rating
Other financial information including bank accounts and credit cards
Criminal background

Some agents will contact previous landlords; make sure you’re getting all the services you need from your estate agent.

Manage the Tenants

Renting out a house comes with new responsibilities; maintenance, refurbishments and repairs as well as on-call demands (such as a gas leak). If this stress is something you want to avoid, be sure to use netanagent.com to compare the services offered by each of the estate agents in your area and find an agent that can manage the letting of your house.

Being a good landlord leads to a good relationship with tenants, which has numerous benefits. Fixing repairs is easier when both parties can work together, and showing the property to new tenants at the end of the lease will become a smoother process.

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