Modalities involved in letting your home

Posted under General by Michael

There are around 2.6 million homes in UK that are rented. For renting a house, the landlord should know about the legal rights and obligations to ensure his safety. When a landlord opts to let his property, he automatically sets up an assured ‘short hold’ tenancy. Short hold tenancy means:

•    Landlord has the right to get back his home after the tenant’s period is completed.
•    Landlord can change the rent according to the market rate of the similar property.
•    Landlord can get his home back if the tenant owes at least two months or eight weeks rent.
•    Landlord can evict tenants who cause a nuisance to the local people.

Landlord can end the tenancy at any point of time but the reason should be valid for the possession which is set out in legislation.

Many people leave their property empty for some reason, but such people lose a large portion of their money through rent and council tax. Landlords should rent their property when it is not in use as it increases the profit and utilises the asset in a proper manner.