Love your rental property, hate it’s name?
So, you’ve found the perfect rental property, the location is fabulous, it has the potential to generate a good rental yield and you can imagine tenants being very happy there. But one minor issue is playing on your mind and making you hesitate before signing on the dotted line; the property has a horrible name! What should you do?
Names are important to us all, evoking strong reactions and emotions. Traditional names are generally good records of previous use – Old Rectory, School House – give owners a satisfying sense of history. So, unless it has really bad associations, it is a good idea to keep a pre-1900 name. However, you do not have to live with a previous owner’s personal name such as CathandCarl Towers.
How do you change a name?
Make a written request to your local council, with a few suggestions in case another house in the area has a name that you’d like. You cannot change a number (apart from adding a letter to an extra dwelling) but you can use a name in addition to a number.
Who do you need to inform?
Royal Mail, Land Registry, Local Council Tax department, the Electoral Roll, Utility providers, mortgage lender and anyone else who writes to you.
Any disadvantages to changing a name?
Locals may disapprove and it could take a long time for all those databases and mailing lists to be updated, but other than that, the change should be worth it!