u/Alternative_Camp1041

Good morning everyone,

Due to some life situations, I've been forced to become a landlord, and I would appreciate any advice on the first steps I should work on and any other advice that you may have.

Things like:

• Contracts, certificates and other documents
• Self assesment and tax
• Expenses I should consider
• Others...

I am quite scared about the expenses this will bring and, even though it would be nice to get some extra income from it, I will be happy enough if i can just get enough to cover the expenses and maybe consider selling it at some point in the future.

Here is some information about my situation:

• I am the sole owner of the property and currently paying a standard mortgage on it.
• The mortgage contract is relatively new, so selling is currently not an option due to the early exit fees.
• The house is in good shape although it needs some work to fix some damp in the walls and repainting probably.
• I have some months to prepare before I should really consider looking for a tenant.
• I live close to the property (30 minutes by car).

Thank you in advance.