How to rent out your home in Scotland

Letting your home in Scotland is not as daunting as it may seem. With the right knowledge and advice, you can make the process as smooth and stress-free as possible. And one of the best ways to deal with renting is through hiring a letting agent for your property, such as ourselves.

We at Home West will deal with all aspects of renting your property to tenants, however there are some measures to consider before this is even an option to you.

Firstly you will need to contact your mortgage lender and get consent to let – if you want to rent your house out on your existing mortgage. There is a possibility that they request you to remortgage in this instance. However failure to get in touch means you can be liable for mortgage fraud if you don’t get permission.

Secondly you will have to register with your local council and also join the Scottish Landlord Register.

Prior to renting you will also be required to meet safety requirements such as gas, electricity and carbon monoxide, as well as having an up to date energy performance certificate and also a Legionella Risk Assessment.

Here is what we can help with you.

Researching the local market and setting a realistic rental price before you rent your house out

Before you set a rental price for your home, it is important to thoroughly research the local market and get an understanding of what other similar properties in the area are currently renting for. It is important to set a realistic rental price that reflects the current market conditions and the condition of your property.

With several years as a Glasgow based letting agent, working in areas across the city, we at Home have a grasp on a realistic yet profitable figure to set as monthly fee.

Advertising your property to encourage potential tenants

Once you have decided on a rental price, it is important to advertise your property. There are many platforms where you can advertise your property, such as online classifieds, letting agents, and even social media.

A letting agent is the best person to leverage this as not only do they have existing clients, whose wants they are aware of. But they also have a known brand on letting sites such as Zoopla – guaranteed to get you more views of your property.

We also have access to professional photographers and videographers, with experience in property, ensuring you get the best results.

Vetting potential tenants prior to renting out your property

Before you decide on a tenant, it is important to vet potential tenants and ensure that they are suitable and able to meet the criteria of the tenancy agreement. It might be a good idea to check references and conduct credit and background checks to ensure that the tenant is suitable.

We as letting agents have done this countless times and will conduct in person or over the phone interviews on your behalf. We have the tools to hand to carry out all background checks, protecting your future property rental income.

It is then our job to present to you who we feel is the right fit for your home, finding someone reliable and trustworthy.

Preparing a written tenancy agreement

Once you have chosen a suitable tenant, it is important to draw up a tenancy agreement for your rental property that outlines the terms and conditions of the tenancy. This should include details such as rent, rental period, payment terms, the tenant’s rights and responsibilities, and the landlord’s responsibilities.

We have such agreements drafted and can tailor to suit your property.

Collection of the deposit for your rental property

And finally, before the tenancy commences, it is important to collect the deposit from the tenant to cover any potential damages or unpaid rent. It is important to make sure that you have the tenant’s written agreement for the deposit and to ensure that you register the deposit with a tenancy deposit scheme.

We have all of these contacts in place and can oversee this transaction on your behalf.

It is our job to allow you to start renting your home in Scotland with both confidence and ease.

Start renting our your house with Home West

Convinced that renting our your house is your next step? Get in touch today to discuss your options either by calling 07833 564 331 or sending an e-mail to innes@home-west.co.uk.