Perhaps you’ve inherited a property, relocated for work, moved in with a partner, or decided to keep your previous home as a long-term investment. However it’s come about, you now find yourself with a property to rent — and a lot of decisions to make.

Welcome to the world of the accidental landlord.

If that sounds like you, you’re not alone. Over recent years, we’ve seen more and more everyday homeowners stepping into the rental market — not necessarily by choice, but because life led them there.

So before you advertise your property or hand over the keys, here’s what you really need to know.

Many first-time landlords believe letting a property is as simple as “finding someone decent and drawing up a contract”. Unfortunately, that couldn’t be further from the truth.

Letting out a property in the UK comes with over 170 legal obligations. These cover everything from smoke alarms and electrical safety to deposit protection, Energy Performance Certificates (EPCs), Right to Rent checks, and more.

And if you get it wrong, the consequences can be severe — including fines, invalidated insurance, or difficulty regaining possession of the property.

If you’ve lived in the property before, there’s often an emotional connection. You might think, “I’ll manage it myself – it’s only one house.”

But managing a let is time-consuming and legally complex, especially if you’re working full-time, living elsewhere, or new to the rental sector.

A good letting agent does more than find tenants. They ensure:

And importantly, they’ll protect your investment and your peace of mind.

Another common mistake is underpricing the rent — either to “get it let quickly” or because it’s what you used to pay.

But local market conditions may have changed, and rental values are rising in many areas across Bassetlaw. Pricing too low affects your returns, while pricing too high can lead to void periods.

At Nicholson’s, we carry out accurate, evidence-based rental valuations and ensure your property is positioned to attract the right tenants at the right price.

Standard home insurance usually doesn’t cover rental properties. As a landlord, you’ll need specialist cover — ideally a policy that includes:

If you're unsure where to start, we can advise you on landlord insurance and how to protect your property long term.

Rental income is taxable, and as an accidental landlord, you’ll need to:

We always recommend speaking to an accountant or financial adviser to ensure you're compliant and not caught out at year-end.

Letting a property can be financially rewarding — but it’s not risk-free. And if you're stepping into it unexpectedly, you deserve clear advice and reliable support.

At Nicholson’s, we guide accidental landlords through the process every day. Whether it’s short-term or a long-term plan, we’re here to make the experience smooth, compliant, and stress-free.

📞 Call us on 01777 808777 for an informal chat

📩 Or click the banner below to message us or book your free rental valuation

Because being a landlord shouldn't feel overwhelming — and with the right support, it doesn’t have to.