Landlord Checklist - Buy to let | NatWest

Landlord's checklist

Owning a rental property is a big commitment. You can't just put your money into it and forget about it. There are a number of responsibilities that come with letting a property so we've put together this list to help you get started.

Property management and deposits

Are you going to use an agency or do it yourself? For a fee an agency can either just find tenants for you or fully manage the property. Tenant’s deposits need to be held by a third party, under the Tenancy Deposit Protection (TDP) scheme. It’s compulsory, and can help resolve any disputes between you and your tenants.

Energy Performance Certificate (EPC)

You’ll also need to give your tenants a valid EPC, which outlined how energy efficient a building is and gives it a rating. You’ll need to get a Domestic Energy Assessor to create the EPC before you start marketing the property for rent.

Gas Safety Certificate

You must be able to give your tenants an up-to-date current gas safety certificate that's been provided by a Gas Safe registered engineer. By law, you'll need to have all gas appliances serviced regularly, usually once a year.

Paying tax

You'll have to pay Income Tax on your rental income, minus your day-to-day running expenses. And you'll have to pay Capital Gains Tax on any profits over a certain threshold if you sell the property. Find out more about the tax implications on the and Money Advice Service websites.

The property

Do you need to decorate? Is it in good condition? What about the garden? Will you let it furnished or unfurnished? Does everything work like sockets, locks and heating? And if the property is over 3 storeys, or occupied by multiple people, do you have a House in Multiple Occupation (HMO) licence? Find out more on

Mortgage and insurance

If you've already got a mortgage on the property, you should either have a Buy to let mortgage or permission from your lender to let the property. Make sure that you take out landlord's buildings insurance. And consider rent insurance, which could pay for legal costs if your tenants stop paying rent and need to be evicted.

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Useful links

There's a lot to think about when owning a rental property. Here are some useful links to help you get organised.

Impartial advice about Buy to let mortgages
Money Advice Service

Safeguard a deposit
Deposit Protection Scheme

Understand your obligations
Landlord responsibilities

Support for landlords
National Landlord's Association

Research rental prices

Read about income tax for landlords
Paying tax

Work out what it'll cost
Stamp Duty Calculator

Find a surveyor
Royal Institute of Chartered Surveyors

These links are to non-NatWest websites. NatWest is not liable for the accuracy of the information provided on these websites. 

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