Help! I’m about to become a landlord for the first time and have no idea where to begin!
This is something that we get asked regularly. In fact we get asked this so much that I wrote a Landlord Guide for all first time landlord’s that might be struggling with where to begin! Don’t worry, this month’s blog is going to help reduce your panic and stress and tell you what all new landlord’s need to know.
Don’t forget to check out the link at the bottom of the page for your very own copy of our Landlord Guide!
1. Mortgage – Do you have a mortgage on your rental property? If so, you will either need Consent to Let or a Buy To Let Mortgage. Your first call should be to your mortgage provider or broker. If you don’t have either of those then any tenancy agreement entered into is null and void.
2. Leaseholds – If you are a leaseholder you will need to check the terms of your Lease incase you need to obtain consent or there are any restrictions on letting out your property. Your lease will also tell you whether pets are allowed in the building or if your tenants can hang their washing outside.
3. Energy Performance Certificate – You will legally need one of these in order to market your property for let. They last ten years and must be in date and rated E or above to start your rental journey. Don’t worry if you have never heard of them or have any idea where to get one from we can do that for you.
4. Legal responsibilities – As a landlord you will need a gas safety certificate if your property has a gas supply and you will also need a working smoke alarm on each floor of the property. Again, this is something that we can arrange for you. When we come out to take a look at your property and give you a rental valuation we can discuss the full range of responsibilities including electrical checks and carbon monoxide alarms.
5. Income Tax! – No one likes tax but unfortunately it is a necessary evil. If you are going to be living abroad for more than six months of the year you will need to register for an exemption certificate from Revenue and Customs and we can help point you in the right direction. It is always a good idea to speak to your accountant before you rent your property to make sure that you are tax efficient.
6. Letting Agents – You will need a good letting agent to help get you the maximum rental yield on the property, reduce your void gaps (where you will be responsible for the council tax and bills) and look after your investment. If you are a first time landlord it is an absolute must that you use a fully managed service to avoid heavy fines, wayward tenants and loss of potential income. Check that your agent is regulated and have a look at their reviews before signing any terms.
I hope you have found that helpful but please take a look at my Landlord Guide for the full list of things to consider and also how a Letting Agent’s service works. The link to my Guide is here
If you would like to know how we can help you at homes4harogate then please head over to the website where you can see our full range of services and the 60 five star reviews that we have had from happy clients including many first time landlords!
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Welcome to the Mumbler property page. We have created this page to provide Mumblers with relevant, up-to-date information about the local property market. From help on all aspects of buying a new home to advice on remortgaging your existing property or even renting a property in the town, you can read all about it here.
Your new Mumbler property team; Matthew, James, Andrew, Stewart & Sarah are always happy to answer any questions you have. Over the coming weeks and months they will be producing a series of short articles aimed at answering the most common property related questions.
If you have a question or query about any aspect of property then please email it to stewart.amos@2plan.com Any suggestions that are used will receive a box of chocolates or bottle of wine from the Mumbler property team.
Best wishes Stewart Amos, Sarah Johnston, the team at Verity Frearson and Andrew Kempston- Parkes
T: 01423 562531
E: Email Verity Frearson Estate Agents
Verity Frearson is Harrogate’s leading Estate Agent.
They place an emphasis on being transparent, honest, straight talking and highly professional, whilst investing in marketing techniques that help your home stand out from the crowd and in making sure that they never lose sight of the solid foundations that their business is built on.
Verity Frearson were established in Harrogate in 1921 and they are proud of our heritage. They have an intimate knowledge of the local market and that’s why they’ve remained focused on it.
The business has always been, and still is, privately owned and run. Over the years, the industry has evolved, as have many of their systems and processes, but what hasn’t changed is their commitment to offering you a quality service, their prominent town-centre position and their recognised brand.
T: 01423 637637
homes4harrogate are a residential letting expert covering Harrogate and the surrounding district.
Sarah and her team pride themselves on offering a modern, flexible and personal service to landlords and tenants including pro-active marketing on social media and extensive property management.
Being fully Arla Propertymark regulated with Client Money Protection and with a background in Law, Sarah is well placed to advise on the ever changing legislation and regulation affecting landlords and does this with regular free landlord events and blogs.
With over ten years experience managing a portfolio of over 1,200 residential properties in the local area, homes4harrogate remove the stress from letting your property whilst also increasing profits and reducing your void gaps.
homes4harrogate are very happy to be part of the Mumbler community and they look forward to helping everyone from landlords about to embark on their buy to let journey to experienced portfolio landlords.
E-mail address sarah@homes4harrogate.co.uk
M: 07810 108165
Stewart Amos is a mortgage advisor based in the centre of Harrogate. He advises on and arranges mortgages from a comprehensive range of mortgages from across the market for all sorts of clients. From those looking to take their first steps on the property ladder to those with a portfolio of investment properties. He also helps arrange the cover put in place to ensure families would be financially secure should the very worst happen; life insurance, critical illness cover etc.
Having been to see a large number of Mumblers over the past year he understands the importance a personalised service can make. He is happy to meet clients in their own home at a convenient time, unfortunately for him that’s usually in the evenings after the kids have gone to bed!
As a thank you for all the kind recommendations on Mumbler, Stewart is happy to waive his usual broker fee to all members of the group. Mention that you’re a Mumbler to qualify.
Email Address: stewart.amos@2plan.com
Your home may be repossessed if you do not keep up repayments on your mortgage.
2plan wealth management Ltd is authorised and regulated by the Financial Conduct Authority. It is entered on the Financial Services Register (www.fca.org.uk) under reference 461598.
T: 01423 789 111
M: 07791 505 116
E: Email Andrew Kempston-Parkes, MRICS
Andrew Kempston-Parkes is an experienced member of The Royal Institution of Chartered Surveyors (RICS), having worked as a Chartered Surveyor in the residential property industry for over 20 years.
Over the years, Andrew has worked with a large number of clients to help move their house purchases forward efficiently and with ease. Or, when properties haven’t been quite up to scratch his vigilance has helped clients to make an informed decision on whether to proceed.
Harrogate has been his home for 20 years and he lives near the centre of town with his partner and their two children, Matthew and Sean.
Feel free to get in touch with Andrew if you have any questions regarding the types of home surveys available and which is right for you.
Email Address: andrew@kempston-parkes.co.uk
