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Melanie Bien - Renting Out Your Property for Dummies

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Melanie Bien Renting Out Your Property for Dummies

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Everything potential landlords need to know about the UK rental market

Renting Out Your Property For Dummies is the essential roadmap to successful property letting. This easy-to-read guide walks readers through every step of renting out their property - showing how to avoid legal problems, find and keep the best tenants, maintain the property and maximise their rental income. As well as lots of helpful advice, it contains a wealth of sample forms and standard letters that can be used when dealing with their own tenants. Crucially, it is fully up to date on all the latest legislation including the Tenancy Deposit Scheme and Energy Performance Certificates (EPCs).

Renting Out Your Property For Dummies covers:

  • How to prepare a rental property for prospective tenants
  • Tackling rent, deposits and tenancy agreements
  • Deciding whether to manage the property yourself or to hire an agent
  • Essential information on financial management and record-keeping
  • Melanie Bien: author's other books


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    Renting Out Your Property For Dummies 3rd Edition by Melanie Bien and Robert - photo 1

    Renting Out Your Property For Dummies, 3rd Edition

    by Melanie Bien and Robert Griswold

    Renting Out Your Property For Dummies 3rd Edition Published by John Wiley - photo 2

    Renting Out Your Property For Dummies, 3rd Edition

    Published by
    John Wiley & Sons, Ltd
    The Atrium
    Southern Gate
    Chichester
    West Sussex
    PO19 8SQ
    England

    E-mail (for orders and customer service enquires): cs-books@wiley.co.uk

    Visit our Home Page on www.wiley.com

    Copyright 2012 John Wiley & Sons, Ltd, Chichester, West Sussex, England

    Published by John Wiley & Sons, Ltd,, Chichester, West Sussex

    No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency Ltd, Saffron House, 6-10 Kirby Street, London EC1N 8TS, UK, without the permission in writing of the Publisher. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Ltd, The Atrium, Southern Gate, Chichester, West Sussex, PO19 8SQ, England, or emailed to permreq@wiley.co.uk , or faxed to (44) 1243 770620.

    Trademarks: Wiley, the Wiley logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. John Wiley & Sons, Inc., is not associated with any product or vendor mentioned in this book.

    LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: THE PUBLISHER AND THE AUTHOR MAKE NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE ACCURACY OR COMPLETENESS OF THE CONTENTS OF THIS WORK AND SPECIFICALLY DISCLAIM ALL WARRANTIES, INCLUDING WITHOUT LIMITATION WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE. NO WARRANTY MAY BE CREATED OR EXTENDED BY SALES OR PROMOTIONAL MATERIALS. THE ADVICE AND STRATEGIES CONTAINED HEREIN MAY NOT BE SUITABLE FOR EVERY SITUATION. THIS WORK IS SOLD WITH THE UNDERSTANDING THAT THE PUBLISHER IS NOT ENGAGED IN RENDERING LEGAL, ACCOUNTING, OR OTHER PROFESSIONAL SERVICES. IF PROFESSIONAL ASSISTANCE IS REQUIRED, THE SERVICES OF A COMPETENT PROFESSIONAL PERSON SHOULD BE SOUGHT. NEITHER THE PUBLISHER NOR THE AUTHOR SHALL BE LIABLE FOR DAMAGES ARISING HEREFROM. THE FACT THAT AN ORGANIZATION OR WEBSITE IS REFERRED TO IN THIS WORK AS A CITATION AND/OR A POTENTIAL SOURCE OF FURTHER INFORMATION DOES NOT MEAN THAT THE AUTHOR OR THE PUBLISHER ENDORSES THE INFORMATION THE ORGANIZATION OR WEBSITE MAY PROVIDE OR RECOMMENDATIONS IT MAY MAKE. FURTHER, READERS SHOULD BE AWARE THAT INTERNET WEBSITES LISTED IN THIS WORK MAY HAVE CHANGED OR DISAPPEARED BETWEEN WHEN THIS WORK WAS WRITTEN AND WHEN IT IS READ.

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    For technical support, please visit www.wiley.com/techsupport.

    Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.

    British Library Cataloguing in Publication Data: A catalogue record for this book is available from the British Library

    ISBN: 978-1-119-97640-0 (pbk), 978-1-119-97733-9 (ebk), 978-1-119-97735-3 (ebk), 978-1-119-97734-6 (ebk)

    Printed and bound in Great Britain by TJ International, Padstow, Cornwall

    10 9 8 7 6 5 4 3 2 1

    About the Authors Melanie Bien is one of the UKs leading mortgage and property - photo 3

    About the Authors

    Melanie Bien is one of the UKs leading mortgage and property commentators in the national press, on television and radio. She is regularly quoted in the Financial Times, Sunday Times, Daily and Sunday Telegraph, as well as making regular appearances on the BBC, Sky News and BBC Radio Four. She is CeMAP-qualified and has won numerous awards. She also worked as a journalist for ten years, including five years as personal finance editor of the Independent on Sunday. Her other books include Buying and Selling Property For Dummies, Buying a Home on a Budget For Dummies and Sorting Out Your Finances For Dummies .

    Melanie also has first-hand experience of renting out property, owning, and managing several buy-to-let properties in conjunction with her family.

    Robert Griswold earned a Bachelors degree and two Masters degrees in real estate and related fields from the University of Southern Californias School of Business.

    Robert is a hands-on property manager with more than 20 years of practical experience, running Griswold Real Estate Management. He hosts a weekly radio show, and has written for the Los Angeles Times, San Diego Union-Tribune, and San Francisco Chronicle. He has twice been named the #1 Radio or Television Real Estate Journalist in the Country by the National Association of Real Estate Editors in the US.

    Dedication

    This book is dedicated to my husband.

    Melanie Bien

    Authors Acknowledgments

    I would like to thank Jo Jones at Wiley for her help, direction, feedback, and constructive criticism during the writing process. Also, many thanks to everyone who works behind the scenes at Wiley for their efforts in making this book possible.

    Melanie Bien

    Publishers Acknowledgements

    Were proud of this book; please send us your comments through our Dummies online registration form located at www.dummies.com/register/.

    Some of the people who helped bring this book to market include the following:

    Commissioning, Editorial, and Media Development

    Project Editor: Jo Jones
    (Previous Edition: Daniel Mersey)

    Commissioning Editor: Claire Ruston
    (Previous Edition: Jason Dunne)

    Assistant Editor: Ben Kemble

    Proofreader: Kate OLeary

    Publisher: David Palmer

    Production Manager: Daniel Mersey

    Cover Photos: iStock / Daniil Peshkov

    Cartoons: Ed McLachlan

    Composition Services

    Project Coordinator: Kristie Rees

    Layout and Graphics: Samantha K. Cherolis, Corrie Socolovitch

    Proofreader: Dwight Ramsey

    Indexer: Christine Karpeles

    Publishing and Editorial for Consumer Dummies

    Kathleen Nebenhaus, Vice President and Executive Publisher

    Kristin Ferguson-Wagstaffe, Product Development Director

    Ensley Eikenburg, Associate Publisher, Travel

    Kelly Regan, Editorial Director, Travel

    Publishing for Technology Dummies

    Andy Cummings, Vice President and Publisher

    Composition Services

    Debbie Stailey, Director of Composition Services

    Introduction

    Welcome to Renting Out Your Property For Dummies . Many of lifes lessons are discovered by on-the-job trial and error, but property management shouldnt be one of them the mistakes are too costly and the legal ramifications too severe. In this book, you can find proven strategies to make rental property ownership and management not only profitable but pleasant too.

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