If you’ve never let a property before, here are some top tips from Tara Kelly, Head of Savills Winchester lettings, on what you need to think about if you find yourself needing to live elsewhere and are contemplating letting your current home.

“First and foremost, check that your mortgage will actually allow you to let your property – some have clauses which don’t allow you to let.

Think about how long you want to let your property for. Keep in mind that most corporate tenants want to rent for a minimum of two to three years. 

If you are a landlord thinking of only letting for six to twelve months, you may want to price your property more competitively to secure a tenant quickly and thus avoid lengthy void periods.

Think about your tax position as it is important to understand how much tax you are going to have to pay and whether letting the property makes financial sense; this is particularly relevant for those accidental landlords who may only be letting in the short-term.

Look at your property objectively and think what work may need to be done. Rooms are likely to need to be de-cluttered and re-painted as a minimum.

Investigate options for specialist landlord insurance. 

There are a number of safety tests including a Portable Appliance Test and Electrical Installation Condition Report (electrical safety tests) and Gas Safety test which will need to be undertaken and there may be a requirement for further work if these fail. In addition, there will be a requirement for a professional clean and for an independent inventory to be undertaken.

The lettings industry is fast paced so be prepared to act quickly.”

Choose your letting agent carefully.

“As members of the Association of Residential Letting Agents (ARLA) our clients are safe in the knowledge that we have Client Money Protection.”

For more information contact Tara Kelly and her team at Savills Winchester on 01962 834020.