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Buy to let checklist

Landlord checklist for renting a house

Planning a buy to let purchase? Get up to speed with our landlord responsibilities checklist.

NatWest mortgages are available to over 18s. Your property may be repossessed if you do not keep up repayments on your mortgage. The content on this page is guidance only and does not constitute advice.

10 things to put on a landlord’s checklist

There’s more to buy to let than finding the right rental property. As a first-time private landlord, you’ll need to meet your legal obligations, maintain the home, and ensure you pay all the taxes that come with the title.

It’s also worth thinking about the potential risks of buy to let ownership and how you’d deal with quieter periods.

That’s where our landlord checklist for renting a house or flat could come in handy. It includes 10 key responsibilities and considerations when letting a private property.

1. Check if you need to register

After sorting your buy to let mortgage, it’s important to check any landlord registration requirements for your part of the UK.

For example, landlords in Scotland generally need to register with their local council. While those in Northern Ireland must join the Landlord Registration Scheme.

2. Get gas safety and energy certificates

Safety should be a top priority on your first-time landlord checklist in the UK.

You must be able to provide tenants with up-to-date gas safety certificates and have all gas appliances serviced regularly, usually once a year. You’ll also need to confirm that any electrical equipment is safe to use.

Energy performance certificates are often a legal requirement too. They give each property an energy efficiency rating, with private rental homes generally needing an ‘E’ or above.

3. Keep everything secure

You might want to change the locks so previous tenants can no longer access the property. Alarm systems, external lighting and robust windows could also help with burglar-proofing.

Meanwhile, a detailed inventory of furniture and fittings might make tenants accountable for anything that goes missing.

It’s also essential to protect tenants against fire dangers. For example, you’re legally required to install working smoke and carbon monoxide alarms. This is a big thing to include on your landlord inspection checklist.

4. Insure your buy to let property

Many mortgages will ask you to take out buildings insurance. It can pay to shop around to find the right policy for you.

If you’re buying a private property to rent out, you can also choose to get specialist landlord insurance. However, it’s not compulsory.

5. Decide how to manage the property

It’s up to you whether you decide to manage the property yourself or use an agency.

A letting agent can handle many landlord responsibilities on your behalf. But there are costs to consider. Whereas, managing things yourself offers greater independence, but you’ll need to be more hands-on.

Remember that tenants’ deposits are subject to a compulsory tenancy deposit protection scheme. This ensures third parties look after any deposits. It can help in resolving disputes and problems between you and your tenants.

6. Carry out tenant referencing

Tenant referencing is the process of checking the background of potential renters. Gathering things like their credit history, proof of ID and income details could help you decide if they’re suitable for your property.

Landlords in England also need to conduct right-to-rent checks to confirm tenants are eligible to stay in the UK.

7. Budget for maintenance and redecoration

Not every buy to let home will come in perfect condition. So, make sure you factor in the time and costs for any work that’s needed before renting a private property out. This might be anything from a lick of paint to updating the kitchen or buying basic furniture.

Your landlord responsibilities checklist doesn’t end once you’ve got tenants either. You could maintain good relations by regularly redecorating the property and checking for faults.

Also keep in mind that you may face unexpected costs, like a broken washing machine or a boiler issue.

8. Know your tax payments

After deducting day-to-day property expenses, you may need to include rental earnings in your total income for Income Tax.

If you decide to sell the property, you might also have to pay Capital Gains Tax on profits above a certain threshold. You can find more information on gov.uk.

9. Prepare for quieter periods

‘Void’ periods can cause issues for both new and seasoned private landlords. This is where your property lies empty in between tenants, with no rent coming in.

They may be down to factors beyond your control. Either way, it’s useful to budget for void periods to ensure you can keep paying your mortgage.

10. Understand the risks of being a landlord

Void periods aren’t the only risk when managing a buy to let property. Disruptive tenants, theft and contract disagreements are just some of the other issues that might crop up. So, staying risk-aware should give you and your tenants more security and peace of mind.

You’ll find plenty of information to help understand your rights and responsibilities, with the National Residential Landlords Association offering different guides and documents.

These cover things like setting up a tenancy, data protection, tax, benefits and payments.

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