York city is a walled city in North Yorkshire, England. It is famous for its historic attractions and a wide range of sporting and cultural activities. It is situated at the confluence of two rivers; Ouse and Foss. It is situated on a fertile and arable land bordered by Pennines, the Yorkshire Wolds, and the North York Moors. It has a temperate climate and experiences sunshine for approximately six hours per day.
According to the 2010 population estimates of UK, York City has a population of around 202,400.
York’s economy is mainly based on service industry, which accounted 88.7% of employment in the year 2000 in the city. The service industries in the city include health, finance, public sector, education, tourism, and information technology. This accounts for about 10.7% of employment. Tourism has become a booming business in the city which has contributed greatly to the economy of the city. This is because of the historic attractions, cultural and sporting activities in the city.
Renting Property in York
Though housing market is booming everywhere, many homeowners in York still may find it difficult to sell their property at good price. If your home is lingering on the market, renting out the property may be the best option. Some people do not know the correct way to rent out their houses. This article gives you easy steps to get started with renting out your house with the least amount of stress and the best results.
Because of increased availability of rental homes, the expectations of tenants are much higher. It’s the responsibility of landlord to maintain safe and sound home for the tenants. Usually a home inspection is made before you rent out your home for the first time. Clean and tidy home will not only increase the likelihood of finding a tenant, but it will also help you procure higher rent. Also, you must secure the rented area from the rest of your house.
Renting property in York may seem easy but the complicated procedures like tax laws and local property rules can be daunting. For a hassle-free procedure, hire attorneys or property management companies. These professionals find a suitable tenant for you. They can also help you understand your communities’ rule governing rental properties. Discussion with an attorney can determine suitable house rules and emergency contacts.
Determine How Much Rent to Charge
The rental of the property is determined by the market. Check newspaper ads or online sources to get an idea of area rental rates. Your house will generally rent out for the same amount as other properties that are of similar location, size and condition.
Find a Tenant
Start looking for a tenant as soon as your property is ready to be shown. You can find tenants by advertising in local newspaper. Also spread the word through, friends and neighbours. Choose the tenant very carefully. Gather references of potential tenant and check the credit history. Once you’ve found the right tenant, arrange an appropriate schedule for rent and security payment.
Charge A Security Deposit
A security deposit is paid by tenants to ensure they fulfil the terms of the house. But remember this is a deposit and not a fee. Secure it in a bank account and return it when the tenant moves out after deducting amount on account of damages caused by the tenant.
Protect Your Rights with A Lease
Landlords should draw a lease according to the landlord-tenant agreement. A good lease complies with fair housing, rental, safety and insurance laws of the region. Do not forget to mention the eviction terms in the lease.
When renting property in York, it is important to make sure that you take the time to study the local rental market much in the same way that you would if you were still trying to sell your home.
Also, make sure that the home is ready to be rented by removing any personal items from the home that you would not want to have damaged. As you prepare for finding a tenant, make sure you advertise in all of the local newspapers as well as consider posting in online classifieds and make flyers to post around town.