Guide for Landlords
FAQ
Consent & Insurance
For properties that have utilised a bank loan or mortgage, written consent is required from the lender in order for the property to be let. In the case that the property is a leasehold, consent should then be requested from the Head Lessee or Freeholder. The landlord should also update their insurance company that they will be letting the property as this may change premiums or nullify current insurance arrangements entirely. It is important that consent is applied for as early as possible & documentation is obtained before any letting begins.
Rent & Tenants
Initially, we assess the property to determine what a realistic rent is based on the current market. When sourcing tenants to rent your property we adhere to a strict qualifying process where we establish the standards required of someone occupying your home. We then refer tenants who fit the appropriate criteria and complete thorough background checks & referencing before any tenancy begins.
Deposits
Always request a deposit from tenants, deposits must be legally protected with a deposit scheme which we can arrange for you. The necessary documentation should be given to the tenant and anyone who contributed to the deposit within 30 days of payment. If this is not done within the required timeframe there will be serious consequences for the landlord. Since 1st June 2019, the maximum security deposit that can be sought is equivalent to five weeks rent.
Inventory
It is vital that a detailed inventory is completed before the commencement of any tenancies to protect all parties. It is stated in the tenancy agreement that tenants should leave the property and its contents in the condition it was handed over at the commencement of the tenancy, fair wear & tear is taken into consideration. Without an appropriate inventory, any cases involving damages would be impossible to enforce, Rash & Rash can arrange a professional inventory for landlords avoiding such situations.
Gas Safety, EPC & Electrical Equipment
Before the commencement of any tenancies, it is a legal requirement that landlords have a valid Gas Safety Record & an Energy Performance Certificate (EPC). Additionally, confirmation of safe electrics including all appliances is also legally required. You should also ensure that there are working smoke alarms on all floors and carbon monoxide detectors in every room.
Post
Remember to redirect all your mail. It is not up to the tenant to notify you of post and is solely your responsibility to make sure all your bills are going to the right address.
Legal
Always have a tenancy agreement in place, even if the person you are renting to is a friend or family member, a tenancy agreement clarifies what is expected of both parties and avoids any unwanted disputes later on. We also advise that you update the Land Registry with new addresses you can be contacted at and that the property is being let. At Rash & Rash, our staff are fully trained in the legal aspects of letting properties so you can rest assured that we will cover this side of the process for you and be available for advice where needed.
