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What you should know about renting your property out part 2
Your responsibilities as a landlord include:
- repairs to the structure and exterior of the property
- repairs to heating and hot water installations
- repairs to sinks, baths and other sanitary installations
- safety of gas and electrical appliances that you supply
- fire safety of furniture and furnishings that you supply
- providing an Energy Performance Certificate for the property
- protecting your tenant’s deposit in a government-approved scheme
In return, your tenant is responsible for taking good care of the property and paying the agreed rent. The tenant should also pay for other charges – like Council Tax or utility bills – unless you have already included an amount for these in the rent.
You will have to pay Income Tax on your gross rental income minus your day-to-day running expenses.
If you have a mortgage on the property you intend to let, you must have, or must obtain, consent to let the property from your mortgage lender.