The buck stops with you! Key things that you need to do as a landlord
You are the one who is responsible! The most important things you should do as a landlord are as follows:
If you are a landlord, you are already probably well aware of the several laws and regulations that must be followed when renting your property. If you are not already a landlord but are considering in becoming one, the information in this article will assist you in staying on the right side of the law!
If you are a landlord, you are already probably well aware of the several laws and regulations that must be followed when renting your property.
If you are not already a landlord but are considering in becoming one, the information in this article will assist you in staying on the right side of the law!
In the most recent count, there are 178 separate pieces of law that influence landlords and the rental of houses. You might face harsh consequences if you violate these restrictions, with some carrying infinite penalties and others bringing you to the brink of jail!
You can’t just wing it, and you can’t make a mistake either.
In order for a rental property to be considered “lettable,” the landlord must guarantee that it is in a livable state, with laws and regulations in place to ensure that tenants live in a warm, dry, and safe environment. If your property does not satisfy the criteria, you may be required to make repairs or improvements as a result of official notices and legal action. The fact that you are asking a renter to pay you for the benefit of living in your home means that it must be in good condition.
One of the main ways to be certain that you are doing everything correctly is to hire specialists that are familiar with the regulations, have the essential certifications, and deal with this on a daily basis. In this way, both you and your renters will be safeguarded.
I’ve met a number of landlords who have been managing their properties on their own for many years. When they first came to me, half of them didn’t even have tenancy agreements in place. The vast majority of them did not have their deposits insured or their safety certifications up to date.
At best, these landlords would have had difficulty evicting the tenants if they were forced to do so, but at worst, they may have found themselves in jail.
The services of a letting agency can assist you in staying on track. In actuality, their prices are little when you consider that they may save your life by keeping you out of prison.
There are just too many pieces of law to include them all here in their entirety. So I have covered the most important points for a landlord to consider in order to guarantee that your renter is safe and that your property is up to scratch.
Professional certifications: Having safety certificates completed on a rental property is one approach to verify that the property is safe for tenants. As a landlord, you must have all gas appliances and electrical systems in every property inspected, with a ‘pass’ certificate stored on file and a copy sent to the tenant, upon completion of the inspection. If the contractor is unable to pass the system, you are legally obligated to do any necessary remedial work to make the property safe. This might result in a significant charge and, perhaps, a delay in the tenant moving in. What happens if they have to be informed that there are delays and they realise that they cannot wait and decide to withdraw & find elsewhere to rent? You’re now saddled with a large bill and no rental revenue to pay for it. You will also have to remarket the property and reference new renters from scratch. Disaster! The loss of rental revenue, the monthly payments as the property will be vacant, and the cost of a large repair are all factors to consider.
For this reason, I would recommend that you should not wait until the last minute to get your legal certifications.
An EPC, or Energy Performance Certificate, will be required before the house may be marketed for rental purposes. These certifications have a 10-year shelf life and are necessary whenever a property is put on the market for sale. Consequently, if you have purchased the house within the ten years, you may already be in possession of one. In accordance with the government’s efforts to enhance the overall quality of rental houses, they will shortly adopt a law stating that a property’s EPC rating must be C or above in order for it to be suitable for rent. If your property has a rating of D, E, F, or G, you as the landlord will be required to make improvements to its energy efficiency before it can be rented out. This might include upgrading heating systems, windows, and insulation, as well as installing solar panels or anything else more significant, in order to raise the rating to a level, allowing it to be rented out.
Pre-tenancy checks: You or your agent must collect copies of identification for all parties involved in the tenancy before it can be officially started. This is done as part of the reference procedure. This is done to ensure that there are genuine pieces of identification on hand and that the renters are really who they claim to be. Furthermore, this is done to see if they do not fall into the category of a person of special interest.
Right to rent: A landlord must certify that the potential tenant is legally permitted to enter into a rental agreement; must examine the immigration status of every prospective renter. This may be accomplished by making photocopies of all identification papers for all inhabitants above the age of 18. It is important to know whether or not a potential renter is legally permitted to remain in the United Kingdom for the duration of the rental agreement, especially if they are here on a visa. You must look into this matter on each and every renter. Even if they claim to be British citizens, it is against the law to solely conduct background checks on people who you suspect are not British nationals.
Issues with structural maintenance: Of course, no one ‘expects’ to have a severe structural fault on their home, but if the worst should happen and there is a serious problem at your property, you must deal with it. The renter should not be made to suffer because you do not want to fix anything or are unable to do it financially on your own dime. Unfortunately, a lack of financial resources does not qualify as an excuse. The Local Authority will not accept this as an excuse for not completing the necessary repairs. This is why it is critical to have a comprehensive insurance policy in place to deal with unexpected difficulties as promptly as possible.
Regardless of your financial situation, you are obliged to maintain a warm, dry, and secure environment.
When it comes to renting out a house, there are several obstacles to overcome, but nothing is insurmountable when you have a trained agent on your side. An agent serves as the ideal go-between – ensuring that damages are notified and dealt with as quickly as possible. Many repairs only reach the stage where the Local Authority becomes involved because the tenant has little option but to do so, especially if the issue has been there for an extended period. This is really a last-ditch effort.
For the sake of preventing needless stress, I usually recommend that landlords keep a few months’ worth of outgoings for the house in their bank account. If there are any problems with the rent payments or unplanned repairs, you will be able to cover the costs of these concerns.
It is possible to safeguard both your renter and your property with rent guarantee insurance and landlords’ insurance. Having insurance policies in place may provide you and your renter with the comfort of mind that repairs will be completed as quickly as possible. In addition, you won’t have to worry about any unexpected bills or charges.
If you are concerned about the management of your rental property and would want some assistance or direction to ensure that you are getting it right, please get in contact with our professional lettings team.
