Reddit reviews How To Be A Landlord: The Definitive Guide to Letting and Managing Your Rental Property
We found 2 Reddit comments about How To Be A Landlord: The Definitive Guide to Letting and Managing Your Rental Property. Here are the top ones, ranked by their Reddit score.
Hello. Landlord here.
I highly recommend this book, it’s what got me started in property.
How To Be A Landlord: The Definitive Guide to Letting and Managing Your Rental Property https://www.amazon.co.uk/dp/0993497225
If you decide to rent your house and become a landlord then you will have lots of legal responsibilities. Your house needs to be a minimum EPC level of E. You need a gas safety check conducted every year and soon you will need an electrical check conducted every 5 years. You need to place a tenants deposit in a Government backed Deposit Protection Scheme and this can be no more than 5 weeks rent. You are on a strict time limit to do all this and failure to do so will result in you being unable to get your house back and you could be fined up to 3x the deposit amount. You also can’t charge any fees for vetting the tenants. You should join the NLA or RLA to learn how to be a landlord and to get access to their documentation, especially the AST’s.
You have a lot to learn; it’s not so simple. However my biggest worry for you is when the time comes to get your property back. If you haven’t been correct in issuing paperwork or sticking to your landlord responsibilities and you have stubborn tenants, they can make it hell for you to reclaim your property (on average at best it could take about 40 weeks using a s21 notice).
I’d think long and hard about doing this if I was you. Good luck.
Look for some relevant episodes on the Property Hub podcast or get their book:
https://www.amazon.co.uk/How-Be-Landlord-Definitive-Managing/dp/0993497225/ref=sr_1_1?ie=UTF8&qid=1497438021&sr=8-1&keywords=how+to+be+a+landlord