Tag: lettings

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How to Decorate a Rental Property for Christmas

How to Decorate a Rental Property for Christmas

For many renters, the festive season is an exciting time to bring warmth and cheer into their homes. However, working out how to decorate a rental property for Christmas can sometimes be a bit tricky. Unlike homeowners, tenants often face restrictions on how much they can alter their living space, and the last thing anyone wants is to risk losing their deposit over a few seasonal decorations. That said, just because you’re renting doesn’t mean you can’t enjoy a beautifully festive home!

With a little creativity and some renter-friendly ideas, you can transform your rental into a cosy, Christmas wonderland. Whether it’s a splash of colour, twinkling lights, or the comforting aroma of cinnamon and gingerbread, small changes can make a big difference.

To help you this season, the team at City Realtor has come up with some clever ways to add Christmas spirit to your rental property in Tower Hamlets without breaking the rules.

7 Ways to Decorate a Rental At Christmas

Here are seven rent-friendly ways to decorate for Christmas. Whether you’re entertaining guests, enjoying cosy nights in, or just want to create a joyful atmosphere, these tips will help you embrace the season in style.

1. Create a Festive Window Display

While you may not be able to hang lights on the exterior of your property, that doesn’t mean you can’t light your home up like a Christmas tree from the inside! Using solar lights, holly garlands and pinecones, you can create a festive window display that makes your rental look Christmassy inside and out. Add some frosted window stickers or paper snowflakes for an extra magical touch. A festive window display is not only a treat for you but also for your neighbours and passers-by!

2. Wrap Garlands Around Staircases

No nails, blu-tack, or screws, is the key to decorating a rental for Christmas. By wrapping a festive garland full of ribbons, holly and winter berries around your staircase, you can make your hallway look warm and cosy from the moment you walk in! If you need to secure the garlands to the stairs, use invisible string so it’s unnoticeable and doesn’t leave any marks. Consider incorporating fairy lights into your garlands for an extra glow!

3. Go All-Out With Your Dining Room Table

If you can’t do much with the interior walls of your rental, make your dining room table the cosiest it’s ever been! Create your own festive centrepiece with candles, holly or scattered baubles and set the table with crackers, napkins, chargers, champagne glasses and other Christmassy accessories. Think about layering your tablecloth with a festive runner, adding name cards for guests, and incorporating seasonal colours like red, gold, and green for a stunning table setting.

4. Use Floor Space

One of the best ways to decorate a rental for Christmas is to use your floor space to add some Christmas cheer. Forget about hanging garlands on the walls and instead add freestanding ornaments like twigs with twinkling lights, piles of dried kiln logs or oversized lanterns to your floor space. Place a cosy Christmas rug or a basket of seasonal throws in the living room to add to the festive vibe.

5. Add Festive Smells

Nothing makes a home feel more like Christmas than the smell of fresh cookies, warm gingerbread or sweet cinnamon! A great rent-friendly way to decorate for Christmas is to invest in candles or essential oils that make your home smell merry. When lighting candles, never leave them unattended, or opt for battery-operated alternatives. You could also simmer a pot of mulled wine or spiced apple cider to fill your home with seasonal aromas.

6. Switch Up the ‘Normal’ Things

Another easy way to decorate a rental at Christmas is to switch up the normal things in your home for something jollier. Add red covers to your cushions, change your bedspread to a festive duvet, and drape white blankets over your sofa for a snowy look. Don’t forget about the bathroom too! A festive hand towel or soap dispenser can add a fun touch. Accessorising can add a warm, cosy and Christmassy vibe! 

7. Use Sticky Hooks

If you really need to hang things on the walls, use command strips or hooks that stick to the wall and leave ‘no mess’. Just make sure you’re using them on recommended surfaces that won’t create any damage to the walls. Sticky hooks are perfect for hanging lightweight decorations like fairy lights, stockings, or small wreaths.

Easy Renter-Friendly Christmas Decoration Ideas

  • Festive Door Mats: Place a Christmas-themed door mat at your front door to welcome guests!
  • Decorative Bowls: Fill decorative bowls with sweets, ornaments, or pinecones for an easy, festive touch.
  • Hanging Paper Decorations: Use paper snowflakes or stars to hang from ceilings with removable hooks.
  • Festive Ribbon Accents: Wrap festive ribbons around lamp bases or curtain ties for subtle Christmas flair.
  • Christmas-Themed Kitchenware: Swap your usual mugs, tea towels, or plates for festive-designed ones.

Looking For a New Rental Property in Tower Hamlets?

Are you looking for a new rental in Tower Hamlets? At City Realtor, our friendly team can help you find a rental you’ll love living in all year round.

View our listings or contact us on 0207 790 7702 for a chat about your requirements.

In the meantime, we’ve answered your common questions about decorating a rental property for Christmas.

Frequently Asked Questions About Decorating a Rental Property for Christmas

Can I hang decorations on the walls of my rental property?

It’s generally advisable to avoid hanging decorations on the walls of your rental property to prevent damage. Consider using floor decorations, window displays, or removable hooks for your Christmas decorations.

How can I create a festive atmosphere without drilling holes or damaging the walls?

Use floor decorations, window displays, garlands wrapped around staircases, and festive table settings to create a Christmas atmosphere without damaging the walls.

What are some renter-friendly Christmas decorations?

Renter-friendly Christmas decorations include floor ornaments, artificial trees with stands, festive tablecloths, candles, and essential oils.

How can I make my rental home feel cosy and inviting during the holidays?

Incorporate festive colours, textures, and scents into your décor. Use soft lighting and cosy blankets to create a warm and inviting atmosphere. Consider adding festive touches to your dining table and living room to make your rental feel more festive.

What Next?

Do you require a valuation or no-obligation advice on renting or letting a property in Tower Hamlets? Please contact our expert property team at City Realtor on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, watch our YouTube Videos!

Good luck if you are buying a home, or considering putting your property in Tower Hamlets on the market. We’ve answered your FAQ’s here.

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What is an AST?

What is an AST?

An AST, or Assured Shorthold Tenancy, is the most common type of tenancy agreement between landlords and tenants in the UK. It is a legally binding contract between a landlord and a tenant that outlines the terms and conditions of renting a property.

At City Realtor, we believe that understanding an AST is crucial to protecting both renters’ and landlords’ rights and obligations, ensuring a smooth rental experience.

Whether you’re a first-time renter or an experienced tenant, navigating the details of an AST can sometimes feel overwhelming. That’s why City Realtor is committed to breaking down the complexities of these agreements, so you can approach your tenancy with confidence.

By knowing your rights and responsibilities upfront, you can avoid common pitfalls and ensure you have a positive relationship with your landlord from the start. Let’s explore the key features of an AST and how they affect tenants.

Key Features of an AST

Fixed-Term vs. Periodic Tenancy

An AST can be set for a fixed term, typically six months or a year, or it can roll on a periodic basis (usually monthly) after the fixed term expires. During the fixed term, both the landlord and tenant are bound by the terms of the agreement. After this period, the tenancy can continue unless either party gives proper notice. At City Realtor, we can help you navigate these terms, whether you’re dealing with a fixed-term or periodic tenancy.

Rent and Deposit Protection

The AST agreement will specify the rent amount, when it’s due, and how it should be paid. Additionally, any deposit taken must be protected in a government-approved tenancy deposit scheme, such as the Tenancy Deposit Scheme (TDS), Deposit Protection Service (DPS), or MyDeposits. When working with City Realtor, we ensure that all deposits are securely protected in line with legal requirements.

Landlord’s Responsibilities

Under an AST, landlords must maintain the property in a good state of repair, ensure it meets health and safety standards, and provide necessary certificates, such as the Energy Performance Certificate (EPC) and Gas Safety Certificate. Our team at City Realtor ensures that all landlords meet these responsibilities, safeguarding your living conditions.

Tenant’s Obligations

As a tenant, you are expected to pay your rent on time, keep the property in good condition, and adhere to the terms of the agreement. This includes not causing nuisance to neighbours and seeking permission before making any alterations to the property. City Realtor assists tenants in understanding their obligations and ensures that communication between landlords and tenants is clear and effective.

What Happens When the Tenancy Ends?

When your AST reaches its end, there are a few possible outcomes:

Renewal of the Tenancy

If both parties are happy, the tenancy can be renewed for another fixed term, often with the same terms or with new conditions agreed upon. City Realtor can handle the renewal process, ensuring everything is in order for both parties.

Rolling Tenancy

If no action is taken, the tenancy automatically becomes periodic. This means that it continues on a month-to-month basis until either the tenant or landlord decides to end it. City Realtor provides clear guidance and support during this transition.

Ending the Tenancy

If you wish to end the tenancy, you must provide written notice to your landlord, usually one month for a periodic tenancy or as stated in the agreement for a fixed term. Similarly, landlords need to give at least two months’ notice if they want to regain possession, usually through a Section 21 notice. City Realtor is here to assist with the notice process, making it stress-free for both landlords and tenants.

Can the Rent be Increased During a Fixed-Term AST?

Rent increases during a fixed-term AST are usually only allowed if both parties agree or if the contract includes a rent review clause. In periodic tenancies, landlords can increase rent annually by providing the tenant with proper notice, usually one month in advance. At City Realtor, we ensure that any rent adjustments are fair and compliant with current regulations.

What Rights Do Tenants Have Under an AST?

Protection from Unlawful Eviction

Under an AST, tenants are protected from unlawful eviction. Landlords must follow the correct legal process, and you cannot be forced out without a court order, even after your tenancy ends. If you’re renting a property in Tower Hamlets, City Realtor ensures your rights are fully respected.

Right to Peaceful Enjoyment

You have the right to live in your rental property without unwarranted interference from the landlord. While landlords can inspect the property, they must give you at least 24 hours’ notice and visit at a reasonable time, unless it’s an emergency. City Realtor liaises between tenants and landlords to ensure that this right is upheld.

Repairs and Maintenance

If something breaks down, such as the heating system or plumbing, it’s the landlord’s responsibility to fix it in a reasonable time. Always report any issues promptly and in writing to ensure they are addressed. We provide a reliable maintenance service for all properties to rent in Tower Hamlets, ensuring that repairs are handled quickly and efficiently.

What Are the Consequences of Breaking an AST?

Breaching the terms of your AST, such as by failing to pay rent or damaging the property, can lead to serious consequences, including eviction. However, landlords cannot simply evict you for minor issues without following the proper legal process. If there’s a dispute, we can help resolve it through mediation or by guiding you through the legal process.

Understanding your Assured Shorthold Tenancy (AST) agreement is key to a successful and stress-free renting experience. At City Realtor we’re here to guide you through every aspect of your tenancy, from understanding your rights to managing communication with your landlord.

Whether you’re renting for the first time or looking to renew your tenancy, we’re committed to making the process as smooth as possible.

What Next?

Looking for a property to rent in Tower Hamlets? City Realtor is here to support you every step of the way.

Landlord looking for help with property management? With our expert services, you can trust us to handle everything from AST agreements to maintenance and legal compliance.

Contact us today at City Realtor and let us take the stress out of finding or managing a rental property in Tower Hamlets. As property management experts in Tower Hamlets, we’re on hand to make your life as a landlord easier and more profitable!

If you’re a landlord thinking about working with a letting agent to help manage your property, our friendly team at City Realtor would love to hear from you.

Require a valuation, or searching for property management services in Tower Hamlets? Contact us on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, Watch our YouTube Videos!

In the meantime, here are the answers to the most frequently asked questions on this topic.

Frequently Asked Questions About AST’s

1. Can I leave my AST early?

Yes, but only if your landlord agrees or if there’s a break clause in your tenancy agreement. Otherwise, you may be liable for rent until the end of the agreed term. We can assist you in negotiating an early termination if necessary.

2. What should I do if my landlord isn’t protecting my deposit?

You can raise a dispute with a tenancy deposit scheme or take legal action. It’s a legal requirement for landlords to protect your deposit. City Realtor ensures that all deposits are correctly handled, providing peace of mind for tenants.

3. Can my landlord enter the property without permission?

No, your landlord must give you at least 24 hours’ notice and visit at a reasonable time unless it’s an emergency.

4. What happens if I can’t pay my rent?

Speak to your landlord immediately. They may offer a payment plan or some leniency. Persistent non-payment could lead to eviction, but this should be the last resort.

5. What is a Section 21 notice?

A Section 21 notice is used by landlords to regain possession of the property at the end of an AST without having to provide a reason. They must give you at least two months’ notice.

6. Can I make changes to the property?

You usually need written permission from your landlord before making any alterations, even minor ones. Check your AST for specific clauses related to changes.

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7 Steps to Becoming a Residential Landlord in Tower Hamlets

7 Steps to Becoming a Residential Landlord

There are a number of reasons people consider becoming a residential landlord.

Often, it’s because someone wants to do more with their savings and sees property as a sound investment with a regular income. It might also be that a person becomes an accidental landlord after inheriting a property or moving into a house with a partner.

However, while the allure of consistent rental income is certainly appealing, there are several things you need to consider before you begin your property portfolio.

Here are seven things to think about when becoming a landlord in Tower Hamlets.

How to Become a Landlord of a Rental Property in Tower Hamlets

1. Consider set-up costs

Finances matter, the numbers have to stack up. If you’re going to obtain a buy-to-let mortgage, the mortgage lender needs to know about your income and what rent you hope to achieve.

They have to ensure that you can cover the costs. You’ll probably have to pay for surveys, too, so they can be sure the property you have in mind is worth what you think it is.

Then there are the legal fees and the search costs. Many law firms who specialise in conveyancing will be able to give you an early indication of what your final bill will be.

2. DIY or use a letting agent?

You could manage the property yourself – and many landlords consider this as it can help reduce costs. However, you must make sure you have the time to dedicate to the management of the property.

Do you want to choose a letting agency to find you a tenant and arrange the initial agreements? You can then keep on top of things for yourself. Or would you rather hand over all the property management to the agency? This will certainly reduce the pressure on you but there will be costs involved due to letting agent fees. You can view our fees here.

Read our step by step lettings guide here

3. Landlord insurance

When you are renting out a property in Tower Hamlets, you must obtain landlord insurance. This is because a home insurance policy will not cover you for what you need, and also because the right insurance will protect you, your property and your tenant.

Read ‘what insurance should I have as a landlord’ here.

If you’re taking out a mortgage to buy the property, your lender will insist that you have insurance. The costs of insurance will vary depending on the level of cover, such as personal liability, contents cover and buildings cover, and loss of rent cover, in the unfortunate event of unpaid rent. Speak with an insurer or a broker and be absolutely clear about what you need.

4. Furnished or unfurnished?

Whether you rent out a fully furnished property or one that is unfurnished is a decision you need to make early on.

If you’ve inherited a furnished property, then it might well be an easy decision. If this is the case, you might find this suits a potential tenant, and you will be able to get a higher monthly rent.

Obviously, if you rent out an unfurnished property, it means you don’t need to buy furnishings for it. Many potential tenants prefer this as they can add their own furniture and make it their home. Don’t forget; it’s best practice to get an inventory carried out as this will affect your insurance policy and could minimise any disputes at the end of an agreement with prospective tenants.

5. Paperwork

One of our top tips for being a landlord is to be well organised and up to date with paperwork from the start. It may seem daunting having a lot of documents, but organisation is key.

Not only will this ensure you don’t fall foul of any legal responsibilities, but it will also mean that if any disputes arise, you know immediately where important documents are. (It’s also particularly useful when you’re doing your accounts or checking information).

6. Legals & responsibility

There are certain legal obligations and responsibilities that need to be understood. These are in addition to the tenancy agreement that you and your tenant should be signing. For example, before a property is let, you’ll need an up-to-date Energy Performance Certificate (EPC) for it.

A gas safety certificate is required for each gas appliance in the property, each home has to have smoke alarms and a carbon monoxide detector, and any appliances or furniture must meet the required safety standards. There are also rules about a tenant’s deposit and how it is kept in a Government-approved scheme. If you need help with any of these, we can advise you. Simply call us on 0207 790 7702 or read our compliance guide.

7. Right to rent checks

A relatively new aspect of renting out a property in Tower Hamlets is the need to carry out a Right to Rent check. A landlord must, by law, check whether a potential tenant has the legal right to rent a property in the UK.

Failure to carry out the required checks could result in hefty fines so if you need advice on this, then contact us and we will be delighted to help.

For expert property advice and becoming a landlord in Tower Hamlets, contact our team of professionals on 0207 790 7702 or email admin@cityrealtor.co.uk.

Need Help With Your Rental Properties?

As property management experts in Tower Hamlets, we’re on hand to make your life as a landlord easier and more profitable!

If you’re a landlord thinking about working with a letting agent to help manage your property, our friendly team at City Realtor would love to hear from you.

Require a valuation, or searching for property management services in Tower Hamlets? Contact us on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, Watch our YouTube Videos!

In the meantime, here are the answers to the most frequently asked questions on this topic.

Frequently Asked Questions About Becoming a Landlord and Setting Up Rental Properties

Do I need a license to become a landlord in the UK?

In England, landlords may need to obtain a license for certain types of properties, such as houses in multiple occupations (HMOs), while Scotland and Wales have their own licensing systems; it’s crucial to check local regulations.

What responsibilities do landlords have regarding tenant safety?

Landlords are legally obligated to ensure the safety of their tenants by conducting regular gas safety checks, providing smoke and carbon monoxide alarms, and adhering to electrical safety standards.

How can I set a fair rental price for my property?

Speak with a local letting agent, research the local rental market, consider property features and amenities and evaluate comparable rentals to determine a competitive and fair rental price for your specific location and property type.

What steps should I take if my tenant fails to pay rent?

Follow the legal eviction process outlined in the relevant UK legislation, which typically involves issuing a notice to the tenant and seeking possession through the court if rent arrears persist.

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Landlords: Should You Let Tenants Decorate? 5 Things to Consider

Should You Let Tenants Decorate? 5 Things to Consider

Should you let tenants decorate?

That is the question for many landlords, as long-term tenants often start to question whether or not they are allowed to turn their rental property in Tower Hamlets into a style that suits them.

Since the number of people renting long-term is growing, more tenants are finding themselves wanting to ditch the plain décor and make a rental feel more like home. However, letting your tenants decorate a rental property is a relatively new concept for many landlords.

As a landlord, knowing how to respond to the decorating trend is tricky. There are downsides to letting your tenants decorate, but there are many benefits, too.

If you are considering whether you should let your tenants decorate, here is our advice on what the benefits are and how you can safely allow decorating.

Benefits of Letting Your Tenants Decorate Their Rented Property

Letting your tenants decorate shouldn’t always be met with a feeling of fear and dread. At City Realtor, we find that allowing your tenants to decorate can have its benefits.

1. Marketability

The number of people renting long-term is growing, so more and more tenants are looking for somewhere they can make a home. Depending on who your target market is, allowing your tenants to decorate a rental can easily make it more attractive to long-term renters. And long-term renters are the goal of many landlords.

2. Return on Investment

Decorating costs money. Even if your tenants are only buying a tin of paint or a few rolls of wallpaper, that can still be a few hundred pounds they’re spending on your property. Not only can this mean your property stays looking fresh, but you could even see a better return on investment for it.

Plus, if your tenants want to spend money on your property, it’s a good sign. It means they take pride in living in your rental and want to look after it as best they can.

Read our maintenance tips for landlords here

How to Safely Let Tenants Decorate Rental Properties

3. Set Boundaries

Stipulate very clearly in the tenancy agreement what you will and won’t allow. For example, you’re happy for them to paint, but they can’t remove any walls! Or they can put up shelves, TV brackets, and units as long as they fill in the holes afterwards.

Setting boundaries around letting your tenants decorate means you can retain a level of control over what happens with the property. This puts you in a better position if you need to re-market it in the future.

4. Discuss Plans Before New Tenants Move In

If you have a new tenant moving into your property, it doesn’t do any harm to ask them if they have plans to decorate.

Getting a feel for their style and what your tenant wants to do to the property can help reassure you that you’re not going to end up with a bad paint job or something you’d consider distasteful. It can also help you make up your mind about whether you want to let them decorate or not.

5. Take Pictures

Taking pictures of the property and undertaking an inventory before a new tenant moves in is an essential part of the onboarding process – whether you plan on letting tenants decorate or not.

If you’re allowing tenants to decorate, taking pictures is especially important. Not only will you have a record of how the property used to look (in case you want to change it back to how it was afterwards), but you can also check during inspections that the tenants haven’t renovated outside of the boundaries you set.

Need More Landlord Advice?

City Realtor are your local property experts in the Tower Hamlets area.

As property management experts in Tower Hamlets, we’re on hand to make your life as a landlord easier and more profitable!

If you’re a landlord thinking about working with a letting agent to help manage your property, our friendly team at City Realtor would love to hear from you.

Require a valuation, or searching for property management services in Tower Hamlets? Contact us on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, Watch our YouTube Videos!

In the meantime, here are the answers to the most frequently asked questions on this topic.

Frequently Asked Questions About Laying Ground Rules for Tenants Painting Rented Property

Can tenants freely paint their rented property without any restrictions?

No, tenants must adhere to the guidelines specified in the tenancy agreement. If tenants paint, restrictions may apply, ensuring the property is maintained appropriately.

Are tenants allowed to hang pictures or shelves in a property they rent?

Landlords typically set guidelines in the tenancy agreement. While some may permit hanging pictures or shelves, it’s essential to check and seek approval to avoid potential issues.

Do many rental properties in the private rental sector allow tenants to decorate?

The flexibility varies among landlords, but an increasing number in the private rental sector recognize the benefits of allowing tenants to decorate within predefined boundaries.

How does setting boundaries on tenants’ decorating activities benefit future tenants?

Clearly defined boundaries in the tenancy agreement help maintain property standards, ensuring a well-preserved space for future tenants. It also facilitates smoother transitions between tenancies and protects the tenants’ deposit.

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8 Things Every Landlord Should Know

8 Things Every Landlord Should Know

There are a whole host of things every landlord should know, yet many opt to set up their rental property as quickly as possible, disregarding this essential knowledge.

So, when questions start getting asked about unpaid rent payments, legal responsibilities, and other frustrating circumstances, these landlords are left scratching their heads, wondering how they got into such a position in the first place. Read our lettings jargon buster here!

Whether you’ve just bought your first property in Tower Hamlets or your fifth, being a landlord is a role where you can continually keep learning new things and facing new challenges.

Other than keeping abreast of what’s happening in the property market, you also need to ensure that you’re following all the latest rules and requirements for landlords.

At City Realtor, we’ve got years of experience working with landlords and dealing with the property market, so we’ve pretty much seen it all!

To help you keep on top of all that you need to be aware of, we’ve created a handy list of the eight most essential things that every landlord should know.

8 Things Every Landlord Should Know

1. Remain aware of what’s happening in the property market

The conditions of the housing market are continually changing. First and foremost, a good landlord should keep an eye on property market conditions.

This will help inform you on how to market your property, as well as give you an idea of what price you should be expecting for it. You’ll also have a much better idea of the competition if you regularly do your market research

2. Understand the facilities in your property’s location

Knowing the local neighbourhood that your property is located in can significantly affect how well you position your property. For instance, here in Tower Hamlets, there are some excellent schools in the area, so you may want to market your property as a family home.

Likewise, if it’s located on the commuter belt, you could think about converting it into separate flats to accommodate four individual tenants instead of just one household.

3. Ensure that your property is up to scratch

When you rent out a property, you need to ensure that it meets certain requirements. You must ensure that it is a liveable space with a safe environment for any tenants that move in. Some of the things you need to consider are:

  • Does it have the necessary smoke alarms?
  • Are there any safety hazards?
  • Are electrical and gas certificates up to date?

Ask our team at City Realtor, as we can help you understand all the requirements your property needs to meet before you can rent it out.

4. Work out your taxes

Before you start getting rent paid into your bank account, you should register with HMRC to ensure that you’re taxed accordingly. You’ll be taxed on all rental income after the first £1,000.

It’s important to mention, too, that there are different tax rules for landlords depending on the type of property you own. Look into this on the HMRC website to ensure you’re doing all that’s legally required.

5. Set aside some money for emergency funds

As a landlord, you should always be prepared. To remain within your budget, set aside a small amount in case anything goes wrong. For example, if your property is unexpectedly vacant for a short period, you should ensure that you can cover your mortgage payments without rental income. 

Set some money aside for any unexpected issues as well. No matter how new a property is, wear, tear, and weather conditions may lead to the need for maintenance and repairs.

6. Comply with all legal requirements

There are many legal requirements that you must follow as a landlord to ensure the safety of your tenants and to avoid fines and penalties. These include:

  • Gas Safety (Installation and Use) Regulations 1998 and Subsequent Amendments. These state that all gas appliances must be safe and checked annually.
  • The Smoke and Carbon Monoxide Alarm (England) Regulations 2015. The landlord is responsible for ensuring that their property is fitted with working smoke alarms and carbon monoxide alarms.
  • The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020. Under these regulations, the landlord is required to make sure that all electrical appliances in the property are safe to use.
  • EPC (Energy Performance Certificate) & MEES (Minimum Energy Efficiency Standards). These state that all landlords must provide a valid EPC certificate to their prospective tenants.It’s rare, but sometimes landlords also experience problems with tenants. Perhaps it’s late rent, or creating problems for other tenants. Without the relevant experience, dealing with situations like this can be challenging. In the event a legal approach is required, don’t worry, we’ve got it covered!

7. Check whether your local council requires any specific licences

Contact your local council to check whether any other licenses are needed before you rent out your property. Some councils will have specific mandatory rules and regulations above and beyond the ones mentioned above.

8. Learn each tenancy agreement like the back of your hand

Becoming a landlord has plenty of benefits, especially when you have fantastic tenants. However, even after conducting a detailed risk assessment and deeming them as suitable, not every tenant is stress-free!

When you are faced with a situation where tenants in one of your rental properties are causing you issues, it’s crucial that you know the tenancy agreement inside out to know what your options are.

Whether it’s the notice period, the tenancy deposit protection scheme, rent arrears, or anything in between, having this information is crucial for ensuring you are acting firmly but fairly.

Need expert advice?

Require a valuation, or searching for property management services in Tower Hamlets? Contact our team on 0207 790 7702 or email us at admin@cityrealtor.co.uk, and we will be delighted to help you.

Don’t forget to follow us on our socials for updates and new listings!

Follow us on Facebook, connect with us on X, join us on Instagram, find us on TikTok, see us on LinkedIn, Watch our YouTube Videos!

In the meantime, here are the answers to the most frequently asked questions on this topic.

Frequently Asked Questions About the Local Property Market in Tower Hamlets

What factors influence property prices in Tower Hamlets?

Property prices are primarily influenced by location, demand, economic conditions, and local amenities.

How can I estimate the fair market value of a property and its rent potential?

Fair market value is typically determined through comparative market analysis, considering recent sales of similar properties in the area.

What are common challenges when renting a property in the local market?

Common challenges include market fluctuations, property conditions, and effective marketing strategies to attract potential tenants.

We’ve answered even more of your frequently asked questions here