Just a few questions
We are looking to rent out our 1 bed house but have no idea where to start and also if it is going to cost us more money each month on top of the mortgage.
Here is things I know:
Inform the mortgage company, is it best to change the mortgage, we are on a 5 year fixed rate and only 2 years in with Northern Rock.
Insurance of course.
Decorate (I hate it) and fit smoke alarms, do we have to fit an extractor fan for the kitchen as it has no window?
Get a tenant - Looking at having an estate agent do this. But what are the approx costs for this? I know this will vary a lot around the country.
I think that this is going to cost us a lot of money each month, esp as we are also looking to rent elsewhere in the country. :sad1: