Renting Out Your London Property? Here’s What You Need To Do

*Collaborative Post*

London can be a confusing place at the best of times. When it comes to renting, it’s usually similar to renting out in the rest of the country, but with some potentially extra costs and things to consider.

For example, the cost of living is higher in London due to higher paid jobs and services available. So, with that in mind, consider how much you’re able to charge for your property. Look around at listings in your area to get a general idea.

Here are some practical tips to get you started when renting out your London property.

Make It Liveable And Stylish

In London, there’s a lot of property available to rent. So you truly have to do your best to make your own home stand out. Especially in the capital, there’s a lot of demand for uniqueness and stylish homes, to help them stand out.

So, if you’re offering a property that’s fully furnished, consider hitting up some vintage shops to find something special that will look good in photos for listings.

If you plan to rent out your property unfurnished, then consider the design of your walls and floors, in regards to materials and colours used. There are arguments for and against furnishing a rental property, so it’s best to know what will work for you.

Sort Out Certificates And Legal Obligations

What you may not be aware of, is that renting out your property comes with some legal complications. Namely, you have to have proof that your potential home has proof of its legality.

One of the ways this is done, is to produce an energy performance certificate. These ‘EPCs’ are usually a 3–5-page document that shows property owners and tenants the energy efficiency of their home. Ranging from the best, A, to G, the bottom.

The certificate can also provide recommendations for potential energy saving improvements, with estimated costs and savings.

Sometimes, to produce an EPC in London, it can be costly. Mainly due to the high living costs associated with the capital.

But there are options. Consider using epcHome, they have a quick turnaround on getting an EPC out to your building. They also can cover all epc London needs in most boroughs.

These certificates not only help provide legal obligations for renting, but also help you advertise your home, if you have a high rating.

If you don’t have a high rating, then at least now you know what you need to do to improve your score, and become more energy efficient.

Insure Your Property

It’s crucial that your insurer knows about your intention to rent out your property, as your policy will need to be amended to correct this.

Landlord insurance, is the most common. This will help cover any financial losses connecting with your rental property.

The policy helps protect your building and contents, as well as your tenants and investment in general.

Some policies can also help cover you if tenants miss rent payments. It’s nice to have some stability and reassurance when it comes to renting, helping you relieve stress and focus on your life.

Speak Your Mind