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All too often the Stags lettings department hear from landlords who have attempted to let their property themselves but then found out, later down the line, that not knowing they have to do something can have catastrophic effects.
There are over 150 pieces of legislation relating to the private rented sector, but here are some top tips to be mindful as a landlord.
It is important that rigorous checks are carried out to ensure your tenant is reliable and responsible. This often includes checking their credit eligibility, getting any references from previous landlords, ensuring they have sufficient income to pay the rent and associated costs and that they have the right to lawfully live in the UK.
As landlord you have various health and safety checks that you are legally required to have both at the start of tenancy and renewed at the required intervals thereafter.
Gas appliances in the property need to be checked by a Gas Safe-registered engineer annually and provide tenants with a Gas Safety Certificate within 28 days of the annual check.
It is a landlord’s liability to ensure that smoke alarms are fitted on every floor of the property and carbon monoxide detectors must be in any room where there is a combustible gas appliance (excluding gas cookers). The alarms must be tested and working at the commencement of the tenancy.
The Electrical Safety Standards in private rented sector regulations came into force on 1st June 2020, therefore, every property let is required to have a satisfactory electrical installation condition report (EICR) which should be re-inspected and tested at least every five years by a qualified electrician.
Following the introduction of the Minimum Energy Efficiency Standards (MEES) landlords must ensure that their property is at least an ‘E’ rating in order to market their property. A copy of the Energy Performance Certificate (EPC) should be made available and provided to the tenant prior to signing the tenancy agreement.
In addition to the EPC, the Gas safety, EICR and other required documentation should be provided to the tenant.
It’s not a legal requirement but having a tenancy agreement drawn up and signed by both the landlord and the tenant is crucial, especially when it comes to things such as rent arrears or issues at the end of tenancy. Once the agreement is drawn up, it's a legally binding document between you and your tenant and sets out the ‘rules’ of the tenancy.
You must protect your tenants’ deposits safely in a government- accredited scheme within 30 days of receiving it. Once you have registered the deposit, you are required to give your tenant the Deposit Protection Certificate and Prescribed Information, along with the Government’s How to Rent guide.
It cannot be stressed enough how important it is to regularly check the condition of your property. It’s best practice to give your tenants at least 24 to 48 hours’ written notice (often stipulated within your tenancy agreement). These visits not only allow you to see how your property is being looked after, but also allows you to assess the requirement for routine maintenance as well as hear any feedback from the tenants.
The tenants are responsible to insure their belongings during a tenancy but as a landlord you are responsible to insure the building. A good insurance policy for landlords will cover loss of rent, damage, legal expenses and liabilities. If you don’t tell your building insurer that the property is being, you risk invalidating your policy.
If you’re considering letting out your property, or currently letting your property with another agent and thinking about switching agents, contact your local branch who will be happy to help. We can provide advice and guidance to help you avoid these all too common pitfalls. Alternatively, for more information head to our landlord services page, where you will be able to find further useful information and download a free copy of the landlords guide to letting.
