House / Room renting

[Cosnada]

Anyone know whats involved in renting out a property?

I can't seem to shift my house and it is really a nice house that we would consider moving back to later on in our lives.

It is mortgaged.

I wish to rent out the 3 bedrooms and also the living room and dining room (as rooms). This will leave the kitchen, bathroom, utility room and garden a communial areas.

I will charge fully inclusive rent.

What do I need to do about notifying the council (if I have to)?

What regulations do the house / rooms need to comply with? I will have the combi boiler and gas fire CORGI checked and there are smoke alarms in the rooms. I will even leave the Carbonmonoxide detector in the hall. I will supply a fire extinguisher and fire blanket for the kitchen too. Anything else?

Just like to know some points, tips, advice from people who have done this already.

This is not primeraly for business (It turns into one I know) - I am forced to rent and so I will go for as much profit as I can TBH but I want to do it properly. If the house sold I would not contemplate it.

What say you..........................

[Ali]

Have a look at this Nada
http://www.thecareerbreaksite.com/wh...your-house.php

[Cosnada]

Have a look at this Nada
http://www.thecareerbreaksite.com/wh...your-house.php

Ali

[Broadmoor]

Have you contacted you local council?

They are a good source of long term letting..5 years plus+

You will gross slighty under the market value but your money is paid without the grief of punching non paying tenants nose's through there faces

[Cosnada]

Have you contacted you local council?

They are a good source of long term letting..5 years plus+

You will gross slighty under the market value but your money is paid without the grief of punching non paying tenants nose's through there faces

Considering all options TBH. Have a large mortgage and so need to get as much return as possible. That said, I am willing to top up any shortfall of mortgage payment as a pension fund scenario.

[purple]

Hi

I think you might come under the new multiple occupancy home rules. This makes the whole process far more complicated than if you just rented the whole house to one family. I found the following information for you:

Multiple Occupancy Homes
The Housing Act 2004 came into force in April 2006. It has a new definition of Houses in Multiple Occupation (or HMOs). The new definition is very complex, and now also includes small-scale shared student housing.

A HMO will be a building that is lived in by more than one household and more than two people. It may include bedsits, shared houses, non self contained flats and some self contained flats.

HMOs pose a greater risk to the health and safety of people living in them. Very often, people who live in HMOs do not know who else lives in the same building with them, and the risks of fire and infection are therefore increased.

The following property types may be HMOs:

a house or flat which is occupied by 3 or more people who form 2 or more households sharing a kitchen, bathroom or toilet;
a house which has been converted entirely into bedsits or other non-self-contained accommodation and which is occupied by 3 or more people who form two or more households* and who share kitchen, bathroom or toilet facilities;
a converted house which contains one or more flats which are not wholly self-contained (i.e. the flat does not contain within it a kitchen, bathroom and toilet) and which is occupied by 3 or more people who form two or more households*;
a building which is converted entirely into self-contained flats if the conversion did not meet the standards of the 1991 Building Regulations and more than one-third of the flats are let on short-term tenancies.
Also, in order to be an HMO, the property must be used as the tenants' only or main residence. Properties let to students and migrant workers will be treated as their only or main residence and the same will apply to properties which are used as domestic refuges or for other purposes prescribed by the government.




What is a household?
The following are 'households' for the purposes of the Housing Act 2004:

"Members of the same family living together including:

couples married to each other or living together as husband and wife (or in an equivalent relationship in the case of persons of the same sex)
relatives living together, including parents, grandparents, children (and step-children), grandchildren, brothers, sisters, uncles, aunts, nephews, nieces or cousins;
half-relatives will be treated as full relatives. A foster child living with his foster parent is treated as living in the same household as his foster parent;
any domestic staff are also included in the household if they are living rent-free in accommodation provided by the person for whom they are working."
Therefore, three unrelated friends sharing together are considered to be three households. A couple sharing with a third unrelated person would constitute two households. A family renting a property is a single household. If that family had an au pair to look after their children that person would be included in their household.

I don't know much more about it but I think that you will need fire doors, emergency exits etc which could cost quite a lot. You will be able to get more information from your local council as I think you would need to be licensed.

[Cosnada]

Hi

I think you might come under the new multiple occupancy home rules. This makes the whole process far more complicated than if you just rented the whole house to one family. I found the following information for you:

Multiple Occupancy Homes
The Housing Act 2004 came into force in April 2006. It has a new definition of Houses in Multiple Occupation (or HMOs). The new definition is very complex, and now also includes small-scale shared student housing.

A HMO will be a building that is lived in by more than one household and more than two people. It may include bedsits, shared houses, non self contained flats and some self contained flats.

HMOs pose a greater risk to the health and safety of people living in them. Very often, people who live in HMOs do not know who else lives in the same building with them, and the risks of fire and infection are therefore increased.

The following property types may be HMOs:

a house or flat which is occupied by 3 or more people who form 2 or more households sharing a kitchen, bathroom or toilet;
a house which has been converted entirely into bedsits or other non-self-contained accommodation and which is occupied by 3 or more people who form two or more households* and who share kitchen, bathroom or toilet facilities;
a converted house which contains one or more flats which are not wholly self-contained (i.e. the flat does not contain within it a kitchen, bathroom and toilet) and which is occupied by 3 or more people who form two or more households*;
a building which is converted entirely into self-contained flats if the conversion did not meet the standards of the 1991 Building Regulations and more than one-third of the flats are let on short-term tenancies.
Also, in order to be an HMO, the property must be used as the tenants' only or main residence. Properties let to students and migrant workers will be treated as their only or main residence and the same will apply to properties which are used as domestic refuges or for other purposes prescribed by the government.




What is a household?
The following are 'households' for the purposes of the Housing Act 2004:

"Members of the same family living together including:

couples married to each other or living together as husband and wife (or in an equivalent relationship in the case of persons of the same sex)
relatives living together, including parents, grandparents, children (and step-children), grandchildren, brothers, sisters, uncles, aunts, nephews, nieces or cousins;
half-relatives will be treated as full relatives. A foster child living with his foster parent is treated as living in the same household as his foster parent;
any domestic staff are also included in the household if they are living rent-free in accommodation provided by the person for whom they are working."
Therefore, three unrelated friends sharing together are considered to be three households. A couple sharing with a third unrelated person would constitute two households. A family renting a property is a single household. If that family had an au pair to look after their children that person would be included in their household.

I don't know much more about it but I think that you will need fire doors, emergency exits etc which could cost quite a lot. You will be able to get more information from your local council as I think you would need to be licensed.

Thank you for your time Purple



Might just rent it out to a family

[Gmac]

I reckon there would be plenty of building regs, and codes to adhere to as well, like fire check doors, escape routes etc, and if you were to rent out to multiple occupants, think how many CCJ's they could ammass in your absense. Might seriously mess up your credit score through no fault of your own.

I'd be renting it out as a single dwelling, through a reputable agency, who can do all the relevant reference checks for you. Might not get you as much rental, but might save on headaches, further down the line.

[Dan]

things like fire exits become an issue above a certain number of occupants, the figure i dont know. but you will need a gas certificate for all appliances that use it, and one for all electric appliances that you leave in the flat, although i dont think its a specific requirement and dosnt cost alot, its good for peace of mind should one of your tenants try to cook themselves in the toaster and claim its faulty

agencies do save time, but they also waste alot of it aswell as cost money. something like 20% of your rental isnt uncommon, and so far i havent met a competent estate agent that youd get your moneys worth from. they take a cut from you and also charge any tenants moving in (120quid for references and then 100quid for admin is the norm) and for this they get you to sign a contract you can get from WHSmiths for 5quid, and ring your boss to check you are who you say you are.. then again they probably wont bother

id definatly say include all bills, although as a landlord you wouldnt be liable to pay them if they left with arrears, it is a pain in the arse and is very appealing to people when looking for a place, and there is no reason why youd charge less money just calculate the average month and add it on top.

everything will be online (direct.gov.uk), all the regs and stuff which is probably more accurate than anyone quoting on here

[dangerousdave]

Youll need all the appliances left pat tested as its the new law. Its usually £1-2 per appliance. Im looking to do the exam and do a bit of pat testing on the side as my dad hopefully has one job lined up for me if i do it which will cover all the setup costs so been doing a bit of research