Landlords

FREQUENTLY ASKED QUESTIONS

There may be many questions that you need answered before making the decision to let your property. Below are the most frequently asked questions.

If, however, you need further explanation or have another question regarding the letting process, please feel free to contact us and we will be glad to help.

I am paying a mortgage, can I rent out my house?
Yes, this is quite normal but you should advise your Building Society or bank and also contact Inland Revenue

Am I taxed on the income from renting?
If you make a profit from it then you will need to declare the profit gained. You will be entitled to
certain expenses as tax deductible allowances i.e. repairs, rates, mortgage interest, collection and management fees, cleaning, painting and maintenance and furniture depreciation etc.

I am going abroad for one year and want to rent out my house. Can you see any problems?
There are generally no problems. Inland Revenue however require the tax on rental income to be paid by the agent or tenant before passing it to the Landlord. It is possible and usual for a dispensation to be obtained from Inland Revenue to allow the landlord to receive rents gross then deal with his own tax affairs. We can advise.

Should I rent furnished or unfurnished?
Generally houses are let furnished although in some cases, particularly with more recently built
properties or those which have never been let before, it is possible to rent unfurnished. We can
provide you with specific guidance in each case.

What furniture should be included?
This is no set guidance for this although the basic essentials should be included in the house. Such items as adequate beds, wardrobes, dressing table lounge suite, table & chairs, cooker and fridge, cleaning equipment, carpets, curtains, etc.

Are there any regulations regarding furniture?
Yes. The Furniture Fire Safety Regulations make it a criminal offence to include non fire retardent furniture in a tenancy. Most furniture constructed from around 1990 onwards meets these regulations. Labels confirming this are usually found either on the base of the item, on a mattress or below cushions on a chair. Again can advise on this.

What about items such as cookers, fridges and any other portable appliances?
These should be checked regularly to ensure they are safe and an appropriate certificate obtained
from the electrical contractors.

What sort of contract is prepared?
In the vast majority of cases the agent looking after the letting can prepare a simple tenancy agreement. This sets out all the tenancy conditions and is usually for a set term.
From the electrical contractors.