What do we need to know if we decide to rent our house out?

[PussinJimmyChoos]

We are thinking about renting our house out rather than selling it if we decide to move rather than improve - its all undecided at the moment.

What should we consider if we do rent our house out? At the moment we have a repayment mortgage

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You need to get a buy to let mortgage on your existing house, or at least tell your lender.

If you go to interest only then it is better for tax purposes - I am not good at the techie bits but we do rent a house out that used to be our home and were advised both of the above

the estate agents should talk you through it,
but you need a EPC( energy report) gas safety certificate,renewable every year, you pay the buildings insurance.
Be prepared for them to damage your property, not major, but it will get scruffy and they might not bother with cleaning that much.. which means bathrooms can get grotty.
Get an inventory. DO NOT let the deposit be paid back before you have checked the inventory check out. And make sure tenants know they will be charged for cleaning if not spick and span, or the same condition they found it in. Might need redecorating after a couple of years. Hold funds for emergencies, boiler/leaks/plumber. Find a really friendly local plumber who will help you out, sometimes the agencies have one that works for them, but get his number.And any other tradesmen you know.
Fill in tax return and keep all receipts, if you are making money on it. If not, don't worry. Think interest only is only better for tax if you are making money on it.... speak to an accountant!!
the mortgage people do need to know. I couldn't get a BTL mortgage, so on a variable rate. I'd stick to the repayment if you can afford it