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What you need to know about letting or renting out your property

August 31, 2015 / britta

Whether you have turned your home into a B & B, or you’re planning to rent out your property for home or office use, there are many different considerations that you need to think about before signing that contract.

What are the different considerations in letting or renting out spaces?

Individuals who are interested in turning their lovely home or a new purchase into an establishment for letting, need to think about their resources and some of the issues that come with it.

Are you someone who values privacy?

Then renting out a portion of your home may not be ideal for you unless you have a separate building.

How will you deal with office or home maintenance and repairs?

Will you shoulder all expenses or just the major repairs? Make it clear that your tenants need to report any maintenance issues straightaway and in writing.  At the same time, you should let them know how you will handle repairs and maintenance; for instance, if repairs are non-urgent, it will be handled within 7 days, while emergency repairs will be addressed within 24 hours.  They also need to know that any damages that they have caused will be their responsibility.

Are you aware of the rules and regulations that come with it?

There are lots of restrictions and things that you need to comply with when renting out property, not to mention the fees and taxes that are payable too.

Does the property have a designated space for parking?

If so, let then let your tenant(s) know exactly where it is so they can avoid cluttering your front yard or driveway, or indeed someone else’s.

What are your expectations of rubbish disposal?

Getting tenants to dispose of their waste properly can give you a major headache – especially when they move out.  Clarify when and how they should dispose of their day-to-day waste.

Are you going to allow tenants to have pets?

If yes, then tell them what types of pets they can have and how many they can bring with them.  You will want them to ask for your approval first prior to bringing a new pet into their house.  It is also best to mention that they need to ensure the yard is pet waste-free and that you will be adding an extra amount to their deposit against end of tenancy cleaning costs.

Will you let your tenants alter some or any part of your property?

It’s best to be honest with them at the start about which areas they can improve to make it feel like their own home or office.  Better yet, have them consult with you first before they make any changes.  Paint, dividers and landscaping are some of things that tenants may modify, and may actually add value.

What do you expect when tenants move out?

At the end of the lease, do you expect them to return the paint to its original colour or repatch nail holes? What about surfaces and debris? Detail your expectations clearly so that they will know what they need to do in order to get their security deposit returned. You can even give them a list of office and home cleaning professionals to help them with the transition out of your property smoothly.

If you are considering renting out a home or an office, our guide on pre and post occupancy maintenance work contains lots of details that you will find extremely helpful.

For office and commercial cleaning needs in London and surrounding areas, call RPC Cleaning on 020 8994 4778.  With over 35 years of experience, we offer a full range of commercial cleaning services including dealing with rental properties.  Get in touch with us now on 020 8994 4778.  We’ll be happy to discuss your cleaning requirements and offer you a cost-effective solution!

 

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