Property Letting GlasgowMarch 28, 2016 4:04 pm
When you are starting out with property letting in Glasgow, there are lots of considerations that need to have your attention. It is about more than just finding a property and finding a tenant. Here are some tips to get you started.
Firstly, when you go for a mortgage for the property, ensure it is correct for a buy to let house. Many mortgages are based on you and your family living in them and need to be a little different when you are renting the property to someone else. The same applies with insurance – normal insurance is for your own property whereas landlords insurance is for buy to let houses.
You need to register with the Glasgow council when you are a landlord and if the property will be occupied by more than three unrelated people, you will need a ‘house in multiple occupancy’ license from them. You will also need to comply with the local authority’s health and safety requirements, including allowing them to inspect the property before someone moves in if they want to.
To help deal with all of this as well as the process of finding a tenant, many landlords make use of the service of a letting agent. This is a service that helps get everything set up including tenancy agreement and arranging the deposit as well as getting references and credit checks. Once the tenant is in the property, it can also help with management of the tenancy, including arranging the annual checks to comply with the council regulations.
Please contact Let-it to discuss your requirements.