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Top 5 tips for Landlords

1. The Law

Make sure you have at least a basic knowledge of the relevant law and the legal requirements imposed on residential landlords, before you start letting any property, even if you intend using an agent. It is your property and your investment, plus you will be responsible to the tenant for your agents’ mistakes if they get things wrong.

2. HMO Compliant

Check to see whether your property can be classed as an HMO. If so you will need to comply with the HMO Management Regulations and may need to get a license from your Local Authority. You may also need planning permission.

3. Tenants

Choose your tenants very, very, carefully. Once they are in possession of the property it will take time and possibly a court action to get them out again, if they prove unsatisfactory. Remember you now need to do a right to rent check.

4. Letting

Before letting, make sure that the property is in good repair and that the furniture and other contents comply with the various product safety legislation. If there are any gas appliances at the property, make sure you get the property inspected annually by an engineer registered with the Gas Safe Register and give the necessary certificates to the tenants when they go into the property and annually thereafter. You should also get the electricity checked at least every five years.

5. Tenancy Agreements & Deposits

Make sure that you have a proper form of tenancy agreement which sets out all the obligations of the tenants and protects your position as landlord, and ensure that all the tenants sign it before they go in. If you take a deposit this must be protected (for ASTs) under a government approved tenancy deposit scheme, or penalities will apply. Make sure you have a proper inventory/schedule of condition prepared for the property and its contents, and go through this with the tenants both when they go in and when they leave. Otherwise your chances of success in a dispute regarding the deposit are slim.

Alternatively, if you do not want any of the stress including all the above why let us to take the strain? At My Cosy Homes we offer a full Management Service which will be fully hands off for Landlords.

Make your property work for you and not the other way around

Call us today on +44 203 369 4454

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