Pros and cons of letting a property

Checklist provided by 

www.propertychecklists.co.uk

 

 
 

PROS

It can help you move into a new home if you can’t sell or need to move away temporarily or permanently.
  A good tenant will pay rent on time and look after your property.
  You help to offer a home to local people who wouldn’t otherwise afford to live in the area.
  You may be able to make money from letting property.
 

CONS

There may be up front costs to meet the legal requirements of renting a property eg update fuse box.
Tenants may damage your property, eg set up cannabis farms.
You need to understand and keep up to date with all the legal ramifications of letting a home.
Tenants may default on their rent leaving you to cover the property costs.
Costs can be higher than the income you receive from renting.

 


All our information is brought to you by Kate Faulkner, author of
Which? Property books and one of the UK's top property experts.
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