As we all know, becoming a landlord is not straightforward – you can’t just go out and find tenants to rent your house whilst you don’t need to live in it. There are several sets of rules that have to be adhered to. The choice to become a landlord carries every kind of reason behind it. The combination of rising rent and house prices has made the idea of owning your own home and renting it out for profit very tempting. In the old days, prior to world war two, most families rented their homes. Unless you came from a pretty affluent family, then this was absolutely the norm. In fact, on the continent of Europe and most other areas, it is unusual to actually own a property if you are working or middle class. The supposed easy money suggested as available when you rent out is not all that it seems. There is quite a lot of legislation involved. That’s if you plan to be all legally sound and above board, that is. There are millions who break the rules and give other landlords a very unfairly bad name. The rent you receive must be adequate to cover your own costs if you are renting or buying another property to actually live in. Of course, just having a property does not mean you can rent it out. Check your mortgage lender’s rules and if yours is leasehold, check also if there is any restriction within the deeds.