So, you’re thinking of becoming a landlord in East London. Maybe you've inherited a property, relocated, or just fancy turning your flat into a solid income stream. Whatever brought you here, first off, welcome. Secondly: take a breath. Because while being a landlord can feel like navigating a maze of legal jargon, tenant demands and dodgy plumbing… it really doesn’t have to be that way.
In this guide, we break it down into clear, manageable steps. No waffle. No stress. Just solid advice from people who do this every day.
🧭 Step 1: Understand What You’re Signing Up For
Being a landlord isn’t just collecting rent. You're legally responsible for things like gas safety, deposit protection, and making sure your property’s fit for humans to live in.
⚠️ Quick Tip: Even if you're renting to mates, you're still a landlord in the eyes of the law.
📑 Step 2: Know the Legal Basics
Before a tenancy starts, here’s what you’ll need to sort:
- Gas Safety Certificate (every year)
- Energy Performance Certificate (EPC, needs updating once every ten years)
- Electrical Safety Certificate (EICR, often needs updating once every 5 years, can be shorter depending on the quality of the installation)
- Deposit registration (e.g. with MyDeposits, TDS, DPS)
- “How to Rent” guide must be given to tenants
✅ East London landlords must also stay updated on licensing requirements (some boroughs have extra rules and associated costs)
💰 Step 3: Work Out the Finances
Ask yourself:
- What’s the market rent for similar properties nearby?
- What’s your mortgage situation?
- Have you factored in void periods, repairs and tax?
Need a quick snapshot of your rental potential? [Get a free rental valuation here]
🔍 Step 4: Decide on DIY vs Professional Lettings
You can go it alone, but East London’s rental scene is fast-paced and tenant expectations are high. A local lettings & management agency (like us 👀) takes care of:
- Marketing your property
- Referencing tenants properly
- Handling maintenance and legal compliance
- Organising third party unbiased inventory check ins and check outs (ensuring you can track property dilapidations throughout)
- Keeping you sane
🤝 Step 5: Find and Vet the Right Tenants
Finding tenants is one thing - finding reliable ones is another. Bad tenants are the #1 reason landlords end up in legal disputes.
Use reference checks, credit scores, and income verification. Or better yet, let someone else handle it.
🛠️ Step 6: Set Up for Success
Make sure your property is:
- Clean and in good repair
- Uncluttered (furnished or unfurnished, but tidy)
- Equipped with manuals for appliances
- Clearly labelled with meter locations, stopcocks etc.
There’s no single way to be a landlord, but if you’re looking to do it right in East London - with as little hassle as possible - we’re always up for a chat.
