Travelling for a long period doesn’t mean your home has to sit empty. Renting it out can generate income and keep it occupied while you’re away. Whether you’re considering a short-term holiday let or a longer rental, here’s a step-by-step guide to ensuring a smooth process.
Step 1: Check the Legalities
Before you list your home for rent, ensure you’re compliant with UK regulations:
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Mortgage & Insurance: Some mortgage agreements restrict subletting, so check with your lender. Also, switch to landlord insurance for proper coverage.
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Safety Compliance: Your property must meet legal safety standards, including gas safety certificates and working smoke alarms. Learn more about the types of safety checks and certificates you will need.
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Tax & Council Rules: Rental income must be declared to HMRC. If you’re offering a short-term let, some local councils have restrictions, so check the rules in your area.
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Licensing Requirements: Some cities require specific licences for short-term lets, particularly in high-demand areas.
Step 2: Prepare Your Property
To attract tenants, your home should be clean, functional, and appealing. Remove valuables, store personal items securely, and provide essential furnishings. Consider self-storage for items you don’t want to leave behind. Read our top tips for decluttering.
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Stock Essentials: If offering a holiday let, include basic supplies like kitchenware and toiletries.
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Secure the Property: Install smart locks, security cameras (exterior only), and timed lighting.
Step 3: Find the Right Tenants
For short-term lets, platforms like Airbnb and Vrbo can be useful. If you’re looking for longer-term tenants, a letting agent can help with vetting, contracts, and management. Always conduct proper background checks to avoid potential problems.
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Screen Tenants Carefully: Avoid last-minute bookings without verification.
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Have a Solid Rental Agreement: Cover rental periods, house rules, and deposit protection.
Step 4: Set Up Property Management
If you won’t be around to deal with tenant issues, hiring a property manager is wise. They can handle maintenance, emergencies, and even regular inspections on your behalf.
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Consider a Cleaning Service: Particularly useful for frequent guest turnovers.
Step 5: Handle the Finances
Work out the rental price based on market rates, factoring in costs like maintenance and agency fees. Declare your income to HMRC and consider opening a separate account to manage rental finances.
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Account for Seasonal Demand: Adjust prices based on peak travel times.
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Keep Detailed Records: Track income, expenses, and receipts for tax purposes.
Step 6: Enjoy Your Travels!
With the right preparation, letting your home while you travel can be a hassle-free way to earn extra income and keep your property secure. Once everything is in place, you can set off with peace of mind!
