Finding a Tenant

• How do I find a tenant?
• How do I choose a tenant?
• Do I need to tell anyone that I am letting a property?
• Fixing the rent

How do I find a tenant?

You can:

• advertise in a local paper or shop window or respond to an advertisement
• use a letting agent
• use one of Haringey Council’s letting schemes
• use a housing association.

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How do I choose a tenant?

If you are letting a property yourself you can ask the prospective tenant to give you references. These could be from a previous landlord, a bank or their employer. Remember, when choosing a tenant you must not discriminate against people because of their gender, disability or race.

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Do I need to tell anyone that I am letting a property?

Yes. You should inform your mortgage company and your insurance company. You should inform your freeholder if the flat or house you are letting is leasehold. You should also declare any income from rent on your tax return.

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Fixing the rent

If I’m letting directly to tenants what rent should I charge?

You need to take into account the size of the accommodation, where it is, its condition and what furniture is provided. The level of rent should also take into account whether gas, electricity, water rates, council tax, cleaning or other services are included.

What is a market rent?

A market rent is the generally accepted level of rent that can be charged for a property. You can look in the local paper or ask local letting agents what rents are charged for similar accommodation.

What rent will I get if I let through the council, a housing association or a letting agent?

The amount you get will depend on the size, condition and location of the property. The rent will also be adjusted to take into account any services the council, housing association or agent provides. These will be stated in your management or leasing agreement.

What does a deposit cover?

A deposit is normally equal to four weeks rent. You should normally return the deposit at the end of the tenancy but it will safeguard you if the tenant damages your property, steals anything from the property or doesn’t pay the rent or the bills.

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