Renting Out Your House or Investment Property: 10 Things to Consider

22 Feb 2023

Thinking of renting out your property? Renting out a house or an investment property can be a great way to generate extra income. However, before making the decision, there are several things you should consider. In this article, we'll go over 10 key considerations to help you make an informed decision.

1. Legal Requirements

Before you start advertising your property for rent, make sure you're aware of all the legal requirements for renting out a property in your area. These can vary depending on where you live, so it's important to research your local laws and regulations. Some common legal requirements include obtaining a rental license, conducting a lead-based paint inspection, and following fair housing laws.

2. Tax Implications

Rental income is taxable, so it's important to understand the tax implications of renting out your property. You may be eligible for deductions for expenses such as mortgage interest, property taxes, insurance, and maintenance. It's a good idea to speak with a tax professional to understand the specific tax implications of renting out your property.

3. Finding Tenants

Finding reliable tenants is key to making a success of renting out your property. There are a number of ways to find tenants, including advertising on popular rental websites, using a property management company, or working with a real estate agent. Consider what method will work best for you and your property.

4. Screening Tenants

Screening tenants is an important step in the rental process. It's important to perform a thorough background check to ensure that the tenant is financially stable and has a good rental history. This can include checking their credit score, employment history, and criminal record.

5. Setting Rent

Setting the right rent is crucial to attracting tenants and making a profit. Consider market trends, the location of your property, and the quality of the property when setting rent. You should also research similar properties in the area to see what they're renting for.

6. Maintenance and Repairs

As a landlord, you'll be responsible for maintaining the property and making any necessary repairs. This includes fixing broken appliances, replacing light fixtures, and keeping the property in a clean and well-maintained condition. Make sure to budget for maintenance and repairs in your rental plan. Click here to learn more about our property maintenance services in Gibraltar

7. Insurance

Having insurance is essential when renting out your property. Consider purchasing a landlord insurance policy to protect your property and your finances in the event of a disaster or accident. A landlord insurance policy can cover damages to your property, as well as lost rental income.

8. Security Deposits

Most landlords require a security deposit from their tenants to cover any damages or unpaid rent. It's important to understand the laws surrounding security deposits in your area, as there are specific rules about how the deposit must be held and how it can be used.

9. Leases and Rentals Agreements

A lease or rental agreement is a legally binding document that outlines the terms of the rental arrangement between you and the tenant. It's important to have a well-written lease or rental agreement in place to protect your rights and ensure that both you and the tenant understand your obligations.

10. Handling Rent Payments

Finally, you'll need to set up a system for collecting rent from your tenants. Consider whether you want to handle rent payments yourself, or if you want to use a property management company. It's also important to have a clear policy in place for late rent payments and eviction procedures in case of non-payment.

About Bentley Property Rentals Gibraltar

Because we built our estates, no one knows the developments, the residents, or their needs better than we do. We have an extensive database of prospective clients, trusting and established relationships with our existing clients, and unparalleled expertise in what we do. Whether you are looking to buy or rent an apartment, sell an existing property, or take out a lease on a new office, with Bentley you can take care of all your property needs in one place.

Exclusive properties for rent in Gibraltar 


EuroCity STUDIO / 1 BATH INTERIOR / EXTERIOR - £1,500 pcm

  • Interior 38m2
  • Exterior 8m2
  • Air conditioning
  • Gym
  • Lift
  • Communal pool
  • Private Parking Space
  • 24 hour concierge with post and parcel room
  • Communal garden

Bentley Estate Management as exclusive agents for the EuroCity Developer are pleased to offer this 7th floor Studio Type D apartment for rent located in the Carrara tower! The Type D is being the largest type of studio at EuroCity.

Learn more here.

Our Property Management & Long Term Lettings Services

  1. Advertising, networking and website promotion of your property.
  2. Evaluation of market conditions in relation to your property’s rental value.
  3. Centralized experienced property management team who are the main point of contact for all tenants and landlords.
  4. Exclusive dedicated management for EuroCity, Eurotowers & WestOne estates and an on-site management office.
  5. Administer license agreements and organize inventories at the beginning and end of tenancies, arrange 6 monthly inspections for the peace of mind of Landlords, professionally screen and reference all new tenants, work closely with all our landlords to provide bespoke services to suit all needs as well as being on hand to offer professional advice.
  6. Accompanied viewings.
  7. In house highly experienced maintenance teams without the involvement of external contractors providing rapid on-site response to urgent maintenance repairs as well as any planned or requested jobs.
  8. Co-ordination of refurbishment & interior design advice.
  9. Internal qualified accountants providing dedicated services for managing ring fenced client deposit accounts, invoicing tenants, transferring rents to landlords and organizing any payments on behalf of the landlord.
  10. Online portal with individual log ins that provides updated information on the estates, takes payments on-line, instant access to account statements and current positions on any ongoing/ requested works.

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