Here at AGT Property Management and Lettings we have many years of experience helping landlords renting out their property. This makes us well placed to help landlords when renting their first property and answering the common questions we get asked by landlords in Peterborough.
What Landlords Need To Know Before Renting Out Their Property
You need to be aware of the local laws set out by government and the local council. It’s important that you know how to set the right price and know what tenants will expect. You will need to consider how you will manage tenant screening. As a landlord you will also be responsible for maintaining the property. These are all things you can manage yourself or outsource to our letting agents in Peterborough.
How Peterborough Landlords Can Set The Correct Rent For Their Property
It is important that you do your local research. Look at what the average rental prices are for similar properties in the same area. Think about the amenities in the local area, as well as the size and condition of the home. Will this suit the tenant, and would they pay more for this? Through good local research you can find the correct rent for your property. Or, you can speak to our rental property experts.
What Are The Extra Rules Landlords Can Add To Their Rental Property?
A lease agreement will be in place to document the conditions and expectations between the landlord and the tenant. As a landlord you may want to include extra rules regarding pets, guests and similar potential concerns.
Does a Landlord Need Landlord Insurance?
Landlord insurance is highly recommended. This is because it will protect the landlord from loss or property damage, for example. It means that liability can be claimed and loss of rental income too. While landlord insurance is not a legal requirement, it is highly recommended.
Do Landlords in Peterborough Need To Pay Tax?
Landlords are obliged to pay tax on rental income. However, make sure you speak to a financial expert or accountant. There will be some expenses that can be deducted. This will include things like the letting’s agency fees, maintenance, mortgage interest, insurance premiums and so on.
Are you a landlord renting your first property? Call our experienced rental experts in Peterborough now. We will be only too happy to talk through the options with you and answer any questions that you might have.