If you’re having trouble selling up, renting it out could be a useful alternative – here are 4 things you need to do:
Get a consent for lease form
First of all you need to let your mortgage provider know you’re planning on renting out your house and get a consent for lease form from them – failure to get consent will likely break the legal Ts&Cs of your mortgage contract.
You can look for Buy to Let mortgages here.
Put your house on the market
Once you’ve got the go ahead from your mortgage provider you need to get your house on the market – you may want to get a letting agent to do this as they’ll do a lot of the leg work to get you a tenant.
On the downside, a letting agent will charge around 10-15% of your rental income, but it’s worth considering as it could save you time and effort.
Make the property safe
Whether you’re renting your property out furnished or unfurnished make sure all appliances, fixtures and fittings are in good working order and everything is as you’d like it to be if you were moving in.
Get landlord insurance
And finally, you’ll need to sort out your home insurance as your standard buildings and contents cover won’t cut it. Click here to for a great deal on landlord insurance.