As one of the leading property portals in the country, Zoopla is a well-regarded name in the property and lettings industry. Therefore, when they issue guidance, you will find many people pay attention. Also, when they partner with ARLA Propertymark to provide guidance for landlords, many industry professionals take notice.
Some of the leading tips offered by Zoopla and ARLA Propertymark can be viewed below.
Check to see if you need a landlord licence
Many local councils require landlords to hold a licence before they can earn rental income. The legislation for licencing was introduced in 2006, and a growing number of areas are implementing a selective licensing policy. This policy has mainly been introduced to prohibit rogue landlords.
Carry out tenant checks
One of the most important parts of letting property comes before a tenant has moved into the rental property. The vetting process is crucial to your success, and tenants should be vetted on their credit eligibility, on their conduct and whether they have the right to live and rent in the country.
A landlord who fails to undertake Right to Right checks, as it currently stands, may face a fine or hail sentence.
You must protect a tenant’s deposit
All landlords are required to place their tenants’ deposits into a Government-accredited scheme within 30 days of receiving the deposit. Once this has been carried out, the tenant should be given the Deposit Protection certificate and prescribed information.
Also, with the Tenant Fees Bill, there is a deposit cap of five-weeks rent when rental costs are less than £50,000 each year, and a six-weeks rental fee cap when rental costs are higher than £50,000.
You must have a valid EPC for your rental property
Landlords must ensure their rental property has an Energy Performance Certificate (EPC) in place. Also, the rental property must hold at least an “E” rating. Unless you arrange an exemption, rental properties which carry an F or G rating are not eligible to be used as rental property.
Ensure safety checks are carried out
You must ensure your rental property is safe for tenants. If there are gas appliances in the rental property, landlords must ensure a Gas Safe registered engineer checks the property on an annual basis. Tenants should receive a copy of this certificate within 28 days.
As of July 2020, there will be a similar process in place for electrical safety checks.
Make sure you have a tenancy agreement signed by both parties
You may be surprised to learn there is no legal requirement for landlords to hold a tenancy agreement. However, it is advisable for you and your tenant to have one in place that is signed by both parties. A tenancy agreement will detail important information and what will happen if certain issues arise.
Other quick tips landlords must consider:
- Carry out regular inspections with permission from the tenant
- Ensure you have adequate insurance in place for the rental property
- Make sure the rental property is in great condition when letting
If you are a landlord and looking for property management tips and guidance, please contact SC Property Management today. We have a range of services aimed at helping you manage your property and enjoy success as a landlord.