fbpx

Monthly Archive December 2019

Is your property ready to be rented?

With all of the new regulations and extra safety measures being implemented every year, it can be hard to keep up as a landlord. Knowing whether your property is legally allowed to be put on the market is a puzzle, but fortunately we’re here to help. In this blog post, we’re going to list all of the things you have to check before renting out a property, including checks, documents and other things you might miss. We recommend that you use this as a checklist any time you’re going to put a property on the market.

 

General safety

 

Fire precautions

Before you rent out a property, you first have to make sure that there are smoke alarms in all necessary areas, including communal spaces like corridors and landings. Furnished properties should also have fire safety labels on all settees, beds, cushions etc. 

As for carbon monoxide alarms, they’re not legally required unless the property has a solids-burning appliance like a wood-burning fireplace. That being said, we highly recommend installing one.

 

Gas Safety Certificate

A gas safety certificate shows that your appliances and boiler have been checked by a professional. It is required for anybody wanting to rent out a property, and needs to be renewed yearly.

 

Insurance & other protection

 

Landlord Insurance

Again, this isn’t a legal requirement. That being said, should you risk it? We wouldn’t say so. Normal insurance on the property doesn’t usually hold up, so it would be a wise idea to invest in protecting it. Lenders do, however, usually make it a requirement in buy-to-let mortgages.

 

Inventory

An inventory is incredibly important. It stops the tenant from lying if ever they break something, and it stops landlords from lying to squeeze extra money from tenants. Because of its legal use (it is usually the first thing checked in a dispute), it’s nearly impossible to take part of the tenant’s security deposit without one.

 

Deposit protection

Speaking of deposits, the tenant must receive a certificate to prove that you’ve protected the tenant’s deposit. The Deposit Protection Service, MyDeposits and the Tenancy Deposit Scheme are the three choices given to landlords.

 

Tenant details

Getting references from tenants can save you in the long-run. To know whether your tenant has caused damage to previous properties or gotten in a run-in with the law or debt, you can conduct a landlord’s reference or credit check. A bank statements check can also help you figure out whether the tenant can afford rent in the first place.

 

Tenancy agreement

A tenancy agreement is issued by default, but you do have the option to write out one with your own terms.

 

Privacy notice

This should be sent alongside the tenancy agreement.  This should include all the information you keep about the tenant.

 

Other information

 

EPC

An Energy Performance Certificate (EPC) is a piece of documentation that details your property’s energy efficiency. Because it helps tenants understand how much they will be paying on their bills, it’s a legal requirement to show it every time you get a tenant, and a certificate needs renewed by a qualified EPC assessor every ten years.

 

How To Rent

 A tenant must be handed a copy of the government’s “How To Rent” guide. This shows them their responsibilities, and what they are obliged to do legally in the tenancy. In the worst-case scenario, this also proves that a client has been informed of their obligations if they ever break them.

 

Need some help?

We will make sure your property is legally compliant, offer long term 3-5 years of guaranteed rent under a fully managed lease contract, and add the property to our rental or serviced accommodation range. We will also take care of all the ongoing associated costs with renting property such as day to day repairs, so you can rest assured knowing your investment is being looked after. Contact us for more information.