# Renting out your house



## ikon66 (Jul 23, 2008)

Hi

Possibly getting a place together with the GF and rather than selling my house thought I'd rent out and keep for retirement pot.

I've read lots of horror stories but I'm sure there's more good than bad. Was looking for any links / advice from anyone who does this.

Thanks


----------



## Kirkyworld (Jan 12, 2014)

There is a lot to consider. You need to register with HMRC to pay tax on the income, you will need to notify your mortgage company if you have one. I would insure it yourself so if they burn it down you are covered. I use a management company who do all the checks, inventory etc and collect the money, costa about 10% but I've never had an issue in about 8 years so far.


----------



## Bigsanj (Oct 30, 2012)

Kirkyworld said:


> There is a lot to consider. You need to register with HMRC to pay tax on the income, you will need to notify your mortgage company if you have one. I would insure it yourself so if they burn it down you are covered. I use a management company who do all the checks, inventory etc and collect the money, costa about 10% but I've never had an issue in about 8 years so far.


As mentioned above. I habd 6 propdfties out on rent and tbh you get good tenents and bad. Ond of my tdnents has bddn in a property for 9yrs and never heard a dickie bird from thsm and when i came to do thd checking out they had repainted the house FOC. On thd other hand anothsr of my properties got trashed. With regatds to managdmdnt companies again there ard good and bad, the active and lazy. I have my insurances are with Directline and cover me for everything and i have a british gas policey covdring my gas, plumbing amd electrics. The BG Policey has bden a god send and well worth considering.


----------



## gherkin (Jul 6, 2008)

Got mine insured with Direct Line (£45 cashback with Quidco at the moment as well!!), got boiler/water/electric cover from British Gas and use the Estate Agent to do the full management of the property - being in the Forces its abit easier with all the moving round etc.

My first tenants are moving out next month but they seemed to have been ok on all accounts. You obviously get good ones and bad ones, one thing i did mention to the estate agent was that i didn't want any social housing tenants (sorry for sounding like a snob), but as i say no dramas so far.

The estate agent takes 10% a month, you need an annual boiler certificate which is covered by BG.

Due to my mortgage I don't make any profit, but it helps towards abit of overpayment on the mortgage


----------



## ikon66 (Jul 23, 2008)

Thanks for the replies chaps


----------



## Alfieharley1 (Jun 8, 2014)

Check out the british Gas for your CP12 Gas Cert & the home care packages. Look at something like the hc400 (Central heating, plumbing & drains & home electrics) also the kitchen appliance covers are great. Also do glazing, locks & pest control which is dirt cheap.

With this aswell if you give your tenant the home care number and they confirm you as the landlord they can arrange everything with regards to breakdowns and annual services but not account or bank details.

Any more info give me a shout. (British Gas Area Service is where I work  ) shame im not in landlords but got some good colleagues who are but happy to help any fellow DW member


----------



## chrisc (Jun 15, 2008)

If its coal proof of chimney sweep annually needed.


----------



## Guitarjon (Jul 13, 2012)

I don't rent my house out but something I'm looking to do in the future. I was a student in a rented house. Our landlord had the British Gas cover to cover the boiler (not sure if they did electric cover at the time) and it was a godsend. It would have saved him a fortune in money as it wasn't that reliable. However, this was also due to his stinginess. He also had a general handy man who did bits and bobs if we needed it. I'd be inclined to do all repairs myself if they needed doing in my house if I rented it as im fairly competent, however, not so many landlords are or they don't have the time.


----------

