Here are some tips for accidental landlords
- Check with your mortgage provider about renting out your property, as you may have to change to a buy-to-let mortgage
- Check to see if you are liable for Capital Gains Tax and other tax deductible expenses
- Use a letting agent if you are unsure about becoming a landlord
- Build up a list of useful and reliable tradesmen, including a local plumber, builder and electrician
- If you live some distance away from your property, make contact with a neighbour or friend and ask them to check on your house/ flat
- Make sure you’ve taken out suitable landlord insurance.
If you’re an accidental landlord and would like more help or advise we’d be happy to speak to you.