Becoming a landlord

Becoming a Landlord

If all or part of your property is empty, it is an asset that is being wasted. Many people consider letting their property, but are not sure of the steps they should take to do so. Letting out all or part of your home could provide you with additional income and at the same time provide someone with a home.

Through the Local Authority or a Housing Association
If your empty home is in good condition you should check to see whether your Local Authority runs a private sector leasing scheme and is looking to take on more properties. Under these schemes you would grant the Local Authority a lease at an agreed fee for a number of years, they then act as managing agents, find a suitable tenant from their waiting list, collect rent, arrange internal repairs etc. You’d still be responsible for the external repairs, and the building insurance. Contact the Empty Homes Officer or the Local Authority’s Housing Department to see if this is an option.

You could also approach a Housing Association to see if they would be interested in managing the property. Again your Empty Homes Officer can give you further details.

Through a Lettings Agent
You may wish to let your property through a private lettings agent. There are several letting and managing agencies in each Local Authority area who have experience in advising on market rents, finding tenants, drawing up agreements, and managing property.

Any agency normally charges an initial fee for letting and/or managing the property, and then takes a percentage of the rental income. There are good and bad accommodation agencies, so it is wise to contact several agencies to discuss their practices and fees before committing yourself.

Most reputable accommodation agencies are registered with one of the following:

Doing it Yourself
You may wish to act as the landlord yourself. The law stipulates that there are certain rights and obligations attached to becoming a landlord and it is important that you are aware of these conditions when letting your empty home.

The Landlord Handbook, produced by ANUK and LACORS is an essential read for all landlords and can be downloaded for free.

In Wales, there is a national landlord accreditation scheme which provides existing and prospective landlords with access to training and information. Landlords are must attend a landlord development session and sign a code of conduct to become accredited.

Further information on becoming a landlord yourself and the regulations that you need to be aware of can be found by following these links:

Before letting your empty home
Whichever way you choose to let your empty home, you may be required to consult and/or obtain the consent of other people such as:

  • Your mortgage lender
  • Your freeholder (if you want to let a leasehold flat)
  • The Local Authority’s Planning Department -Structural changes to a property, or a change in the way it is used, may require formal planning permission or constitute a change of use.
  • The Local Authority Council’s Housing Standards or Enforcement Team.  - These teams ensure that privately rented accommodation complies with the requirements of the Housing Acts and related legislation and will give advice as to whether any works are required to ensure compliance.
  • The Local Authority Council Tax Department
  • Your property insurance company
  • Your Tax Office or accountant

Contact Gwynedd Council to discuss empty homes on Tel : 01758 704127 (Monday to Friday 9.00am - 5.00pm)