The National Landlords Association (NLA) has published guidelines for homeowners who are considering becoming a landlord and letting out their home.

With the possibility of UK property prices falling by up to 5 percent in 2012, many homeowners may consider letting their property as an alternative to selling.  A recent NLA survey of landlords found average rental yields are now 6.7 percent.

NLA chairman David Salusbury said: “If house prices fall this year, we may see more homeowners who were planning to sell instead considering letting their homes while they wait for the market to stabilise.

“There are currently a record number of people searching for rental properties, meaning would-be landlords would have no problem finding a tenant.

“Letting a property can be a rewarding experience and an effective way of providing additional income, but prospective landlords will need to remember they are effectively starting a small business.  They must ensure they are well aware of the rules and regulations governing the letting of private residential accommodation.”

The NLA has released the following tips for homeowners, to ensure they comply with regulations:

1. Provide a proper tenancy agreement, usually an Assured Shorthold Tenancy (AST) agreement that you and the tenant sign. This will outline the length of the tenancy, amount of rent, when it is to be paid, and deposit details
   Protect the tenant’s deposit with a government-authorised scheme, such as mydeposits.
2. Create an inventory describing the condition of the property in detail, along with the furnishings.
3. Have gas appliances checked annually by a Gas Safe registered engineer and provide the tenant with a Gas Safety Certificate.
4. Take out comprehensive landlord insurance to protect your property.
5. Ensure urgent repairs are fixed promptly.  Use reputable tradesmen that you know and can trust to tend to the property at short notice.

• HOLIDAY home landlords with properties in Mid Wales were told that online accommodation bookings were up a massive 84 percent in 2011 and totalled £645,228.

This information was recently revealed at the 20th annual meeting of Mid Wales Tourism (MWT) when the audience was also told that the number of internet users accessing online information about Mid Wales more than doubled to 2.75 million in the last year.

MWT is an independent organisation representing 550 tourism and hospitality businesses across Powys, Ceredigion and Meirionnydd.

Chairman Anne Lloyd-Jones said: “We have seen a huge increase in web traffic and online accommodation bookings, both through our regional websites and via an increasing number of third party websites and other online channels.”

Chief executive Val Hawkins said investment in digital marketing technology was now at the core of MWT’s work.

She said: “We provide a range of services and benefits, in independent voice for the tourism business sector and investment in the latest digital marketing technology, helping members to gain a competitive advantage in the marketplace.”

Hawkins added that MWT’s new corporate website had just been launched to provide the latest news and information about services and suppliers.

She also reported on the development of a ‘Wales Things to Do’ app for smart phones, which is being developed by MWT and is due to be launched early in the New Year.

“It’s important that our members keep going forward in terms of marketing because markets are moving so quickly,” she said. “There are exciting times ahead for our members.”

Also of interest to holiday home owners is the fact that this year the MWT is focusing on the venues market for conferences, weddings and meetings which will create more demand for rental accommodation.