Considering letting your property
That depends on the rent you can achieve, your financing and running costs, taxation and your longer-term objectives. Traditionally, property in the Home Counties has provided both income and capital growth (in some instances, significant growth). It also brings legal responsibilities and periods of expenditure. It is therefore sensible to start with a realistic rental valuation and a proper estimate of annual costs, rather than judging the investment on headline rent alone.
Rental value is influenced by location, size, condition, specification, energy efficiency and the supply of competing homes. We also look closely at current tenant demand and recently agreed lettings. The highest advertised rent is not necessarily the best guide; the aim is to achieve the strongest sustainable rent from a well-qualified tenant. You may also be surprised by how much the condition of a property can affect the rent you'll achieve.
Kirsty Twydell, Lettings Valuation Manager from our Harpenden Lettings Office, has achieved an average of 98.9% of asking price on all the properties that she has let over the last 12 months. This is evidence of how a combination of property, location and thorough marketing can achieve a very good outcome.
Good properties let throughout the year, particularly in the Home Counties where employment and commuter demand remain relatively consistent. Spring, summer and early autumn can be especially active, but the right presentation and marketing are generally more important than the month in which you launch.
A well-presented property at the right rent can attract suitable applicants very quickly, sometimes within days. We currently average just 11 days. The important measure is not simply speed, though. Referencing and selecting a tenant who is financially suitable and likely to look after the property are more important than filling a short void at any cost.
Allow for letting and management fees, insurance, safety checks, repairs, maintenance, periods without rent and, where relevant, mortgage costs, service charges and licensing. You should also keep a contingency fund for unexpected expenditure. Tax treatment depends on your circumstances, so take appropriate tax advice.
If the property is mortgaged, you must have your lender's permission to let it. This will often mean a buy-to-let mortgage, although some residential lenders grant temporary consent to let. Never assume your existing mortgage permits letting; check with the lender before the tenancy begins.
Possibly. Your lease may require the freeholder or managing agent's consent, impose conditions on subletting or occasionally prohibit it. Your mortgage and insurance arrangements may also contain requirements. Check these before marketing the property.
That depends on the property and likely tenant. In our commuter markets, many family homes are let unfurnished, while some apartments and corporate-style lettings demand furnished. We would normally advise according to local demand rather than furnishing a property simply because you already own the furniture.
From 1 May 2026, a tenant or prospective tenant can ask to keep a pet and a landlord can only refuse where there is a valid reason. The circumstances of the property and the proposed pet matter, so requests should be considered individually rather than applying an automatic blanket ban.
Self-management can save a management fee, but it means taking responsibility for compliance, rent collection, repairs, inspections, emergencies and communication throughout the tenancy.
Following implementation of the Renters' Rights Act, 85%+ of our landlords now choose to have a full management service due to the added complexities and the need for strict compliance with the new Act. A professional managing agent is also particularly valuable if you are busy, live some distance away or simply want the tenancy managed at arm's length.
A let-only service normally covers valuation, marketing, viewings, tenant selection, referencing and setting up the tenancy. A fully managed service continues after move-in and generally includes rent collection, inspections, maintenance coordination, compliance reminders and day-to-day tenant contact. Be particularly careful not to overlook the word 'compliance'. It's critical to protect both you and your property and should not be left to a non-professional or taken with a pinch of salt when preparing your property to let.
It should be safe, clean, in good repair and ready for somebody to make their home. Deal with known defects before marketing wherever possible. A property presented well at the outset is more likely to attract quality tenants and creates a clearer benchmark for its condition at the end of the tenancy.
Not automatically. Clean, neutral and well-maintained decoration generally lets well, but there is little value in replacing perfectly serviceable finishes simply because they are not new. Concentrate expenditure where it will materially improve presentation, durability or the tenant's experience.
Landlords must keep rented homes safe and free from serious hazards and comply with rules covering gas, electrical and fire safety. This includes annual gas safety checks, electrical inspections at least every five years, appropriate smoke and carbon monoxide alarms, and maintaining the property to required safety standards. Landlords also have an ongoing responsibility to address hazards such as damp and mould. Awaab’s Law currently applies to the social rented sector and is due to be extended to private renting under the Renters’ Rights Act, with implementation details still to be confirmed. Requirements can also apply around EPCs and property licensing, depending on the property.
If the property has relevant gas appliances, an annual gas safety check must be carried out by a Gas Safe registered engineer. The tenant must receive the required record. Keep renewal dates under close control because this is an important statutory obligation.
The electrical installation must be safe and private landlords in England are generally required to have it inspected and tested at least every five years by a suitably qualified person, with the required report provided to the tenant. Any remedial work identified must be dealt with within the applicable timescale.
Smoke alarms are required on each storey used as living accommodation, and carbon monoxide alarms are required in rooms containing specified combustion appliances. The precise rules should be checked for the property, and alarms should be tested as required when a tenancy starts.
Usually, yes. A valid Energy Performance Certificate is normally required before marketing and must be made available to prospective tenants. Minimum energy-efficiency rules also restrict the letting of properties below the required standard unless a valid exemption applies.
It may. Mandatory HMO licensing applies to certain shared properties, and local authorities can operate additional or selective licensing schemes covering other rented homes. Licensing varies by area, so check the rules applying to the property's exact address before letting. The vast majority of properties that Ashtons lets are to private families, professionals and corporate tenants, where a licence is very seldom required.
A House in Multiple Occupation is broadly a property occupied by people from more than one household who share facilities such as a kitchen or bathroom. Different definitions and licensing thresholds apply depending on the circumstances, so obtain advice if you intend to let to unrelated sharers.
Specialist landlord insurance is strongly advisable and may be required by your mortgage lender. Ordinary owner-occupier buildings insurance may not cover a tenanted property. Consider buildings, contents where applicable, property-owner liability and whether you want additional rent or legal expenses cover. There are policies that we can recommend to you if you wish.
