Renting out your house in London as a private landlord can save you money on letting agent fees and give you more control over the rental process. However, managing the process yourself requires careful planning to ensure you attract quality tenants, set a competitive rent, and comply with legal requirements.
This guide will walk you through how to rent out your house by owner in London, covering key steps such as marketing, tenant screening, legal compliance, and property management.
Before listing your property, make sure it’s in good condition and ready for tenants. Well-maintained properties not only attract higher rents but also draw better-quality tenants.
Ensure your house is clean and tidy, with all personal items removed if renting furnished. A clean, clutter-free house will make a positive impression on prospective tenants.
Fix any small issues, such as leaky taps, broken light fixtures, or chipped paint. These minor improvements will increase the appeal of your home.
Decide whether you want to rent your house furnished or unfurnished. Furnished homes may appeal to professionals or short-term renters, while unfurnished properties often attract long-term tenants like families. Offering both options can broaden your potential tenant pool.
As a private landlord, you must ensure your property complies with legal requirements. Here are the key responsibilities:
Setting the right rental price is crucial to attracting tenants quickly while maximising your rental income.
Look at rental prices for similar properties in your area. Websites like Rightmove, Zoopla, and OnTheMarket can help you compare prices based on location, property size, and features. This will give you a good idea of the going rate in your neighbourhood.
Consider getting a rental valuation from a local expert or letting agent. Even if you’re renting out your property independently, this can give you an accurate understanding of the current market and help you set a competitive rent.
To attract tenants quickly, you need to advertise your house on the right platforms. Here are the best places to list your rental property online as a private landlord:
OpenRent is the UK’s most popular platform for private landlords. You can list your property for free or opt for paid upgrades that include tenant referencing, digital contracts, and additional advertising. OpenRent also posts your listing on Rightmove and Zoopla, giving you extra exposure.
Facebook Marketplace is a free platform where you can list your house for rent directly to a large audience. You can also share your listing in local property rental groups to reach more potential tenants.
Gumtree is a popular classifieds platform in the UK, and it allows you to advertise your rental property for free. While Gumtree doesn’t have the same reach as property portals like Rightmove, it’s a good option for budget-friendly listings or short-term lets.
A well-crafted property listing is key to attracting tenants. Here’s how to create an effective online listing:
Photos are one of the most important elements of your listing. Take clear, bright pictures of each room, highlighting key areas like the kitchen, living room, and any outdoor space. If possible, use a professional photographer to ensure your home looks its best.
Your description should provide all the key details about the property, including:
Highlight any special features such as a garden, parking space, or recent renovations.
Properly screening tenants is crucial to ensuring you find reliable renters who will pay on time and take care of your property.
Conduct thorough tenant referencing to check:
You can either carry out the tenant referencing yourself or use a third-party service like OpenRent or HomeLet, which offer affordable referencing packages.
As a landlord, you are legally required to conduct a Right to Rent check to ensure that tenants have the legal right to rent in the UK. This involves verifying the tenant’s passport or immigration documents.
Once you’ve found a tenant, it’s important to have a legally binding tenancy agreement. The most common type is an Assured Shorthold Tenancy (AST), which outlines the terms of the rental, including:
You can find free templates online, or you can use a solicitor or tenancy agreement service to draft a legally compliant contract.
By law, landlords must place the tenant’s deposit in a government-approved deposit protection scheme within 30 days of receiving it. The three main deposit schemes in the UK are:
Once the deposit is protected, you must provide the tenant with details about the scheme and how it works.
Once your tenants have moved in, managing the property is your responsibility. Here’s what you need to do to ensure a smooth tenancy:
Set up a reliable system for rent collection, such as a direct debit or standing order. Make sure rent is collected on time, and follow up quickly on any missed payments to avoid arrears.
As the landlord, you are responsible for maintaining the property and addressing repair requests. Make sure to respond to tenant issues promptly and ensure that the house is kept in good condition.
Conduct regular inspections (typically every 6 months) to ensure that the tenants are taking care of the property and to identify any maintenance needs.
If you don’t have the time or resources to manage the property yourself, consider using a property management service. A property manager can handle everything from finding tenants and collecting rent to organising maintenance and ensuring legal compliance.
At Fraser Bond, we offer comprehensive property management services for landlords in London, including tenant referencing, rent collection, and ongoing property maintenance.
Renting out your house in London as a private landlord can be a rewarding experience, but it requires careful planning and management. By following these steps—preparing your property, setting the right rent, advertising effectively, and screening tenants—you can ensure a smooth rental process and avoid common pitfalls.
If you need support or advice, Fraser Bond offers expert services to help private landlords manage their properties, from tenant sourcing to full property management. Contact us today to learn more about how we can assist you in renting out your house in London.
