I want to rent out my property, what do I need to know?

The Residential Tenancy (Jersey) Law 2011 sets out the details that must be included in residential leases. In particular you must give tenants at least one working day to read the lease before they sign, and a new lease requires a condition report and inventory.

Your property can only be occupied by appropriately qualified tenants. A ‘qualified’ property can be occupied by ‘entitled’ or ‘licensed’ tenants and ‘registered’ property (previously unqualified) can be occupied by ‘registered’ or ‘entitled for work only’ tenants. You should take a copy of your tenant’s registration card before they move in.

Any landlord taking a deposit will be obliged to sign up with Mydeposits.je and to place the deposit monies with them within 30 days of entering the lease.

If you have an existing mortgage on the property, you will need to notify your lender that you intend to rent it out. Often buy-to-let mortgages require larger deposits than home-owner mortgages. You will also have to disclose income from rent on your tax return and this will be assessed for income tax. If you are not Jersey resident, withholding tax will apply to the rental income.

About Ogier

Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We regularly win awards for the quality of our client service, our work and our people.

Disclaimer

This client briefing has been prepared for clients and professional associates of Ogier. The information and expressions of opinion which it contains are not intended to be a comprehensive study or to provide legal advice and should not be treated as a substitute for specific advice concerning individual situations.

Regulatory information can be found under Legal Notice