Tenancy Security Deposit

You’ve made the ideal investment and have furnished your rental property. You’ve checked the references of your soon-to-be tenant. But you also want to take a security deposit to protect yourself from any damages down the line. Here’s the lowdown on what you need to know.

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How to find great tenants for your properties

Selecting the perfect tenant for a rental property in the UK is an important job, but that doesn’t mean it’s easy. There’s a lot to take into account to find great tenants; due diligence should be your top priority. After all, the last thing you want is to wind up in a situation where the tenant doesn’t pay the rent, and you have to enter into a prolonged dispute period.

Here are four steps you can take to ensure that the tenant you end up choosing will be a good fit for your property. The ideal tenant will pass each of these steps one by one, but they’ve been designed to weed out poor candidates.

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Tenancy Contract Types

In an ideal world, no landlord would ever have to end a tenancy early. Unfortunately, however, we don’t live in an ideal world, and as a result, ending tenancies early is something that both landlords and tenants have to be prepared for. Given that it happens so often and for so many reasons, there’s a lot of confusion out there when it comes to what the specific precedent needs to be in order to comply with UK law. A single Google search throws up thousands upon thousands of results, meaning that for landlords and tenants both, the topic can be overwhelming at times.

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How to Make an Inventory

A property inventory is a record of all the things that you own in your house. There are a number of different homeowners who will want to make sure they perform a property inventory before getting on with selling their place. Regardless of whether you’re a landlord with a number of properties, a private owner looking to rent out their apartment for the first time, or somebody who makes a living renting houses, it’s vital that you have an exhaustive list of every single item potential residents in your home are likely to come into contact with.

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Your most important legal responsibility as a landlord

As a landlord you have many responsibilities. These include being responsible for paying your taxes from any monies generated by your rental properties on time and correctly. And if you have signed an Assured Shorthold Tenancy agreement, it’s your job to protect the tenant’s deposit by using a Government approved deposit protection scheme. Private landlords or lettings in England are also responsible for checking the immigration status of a prospective tenant under the Right to Rent scheme. Therefore it is a criminal offence if you don’t!

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A tenant's checklist before renting a home

It is easy to get flustered when you are renting a house or apartment for the first time, or even if you have previously gone through the procedure. The important thing is to keep a cool head and to make a checklist for all that you have to keep in mind when you go to complete things with your soon-to-be landlord. Rentila helps in getting you all kinds of property. Whether you are looking for an apartment, office space or house, Rentila is here to help!

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Should You Operate as a Private Landlord or Should You Use a Letting Agent?

Many homeowners throughout the UK, who are considering letting out a property they own, have to make a tricky decision long before any paperwork even gets signed. This question (as indicated by the title of this article) is whether they should work as a private landlord, or whether they should make use of a letting agent. The path you ultimately end up choosing will significantly impact the overall experience, so it’s important to think this through carefully.

In the following article, we’ll be going through both options as a way of best preparing you to make this decision for yourself. Bear in mind that, at the end of the day, it’s your call to make, and nobody else’s — we’re just going to present you with the facts as they apply to letters in the UK.

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