Are you keeping up to date with possible/new regulations affecting the private rental sector?
Updated: Nov 11, 2018
The private rental sector seems to be having new regulations brought in weekly at the moment! Are you keeping abreast of those changes to make sure you don't get caught out? Did you know there are over 150 pieces of legislation for a Letting agent and Landlord to follow with new one's being added and old amended all the time.
3 Year Tenancies
At the beginning of June the Government mentioned the possibility of a 3 year tenancy as standard. This would be a 3 year locked in contract for the landlord but allowing the tenants to have the use of a 6 month break clause. This has caused lots of questions such as lenders can/do stipulate the longest term tenancy that can be rewarded how will this be overcome, how will the rent be increased annually, how can a Landlord evict tenants etc. Having the Landlords locked in for 3 years but giving the tenant the use of a 6 month break clause is penalising the landlord and causing an unfair tenancy. Landlords and tenants have had the same notice period and I’ve never had a tenant or landlord complain about it. Both parties know what the notice period is which allows flexibility should either party need to break the tenancy. Decent, honest landlords who’s tenants pay rent on time will not just evict tenants for no reason!
To read more details on the proposed 3 year tenancies, please see a few links
5 Year mandatory electrical test
This has been rumoured and discussed over the last several years, it was only a matter of time this would come into force. Personally, I think this is great, electrics can be just as dangerous as gas and that has to be checked annually! Currently there is no legal obligation for landlords to get the electrics checked leaving tenants with potentially unsafe electrics which haven’t been checked for years. The type of check you need will be an Electrical Installation Condition Report (EICR) which checks on the safety of the electrical installations, fixtures and fittings. If any white goods, lamps, lawnmower etc are left by the Landlord for the tenants to use during the tenancy these will need to be checked and the test carried out for these is a Portable Appliance Test (PAT).
At the time writing this article there isn’t a timescale for this to come into force, it is already a legal obligation for landlords in Scotland so I don’t see this being long.
To read more details, please see a few links
How to rent guide
Did you know in June this was amended twice within the space of a week! Make sure you have the latest copy. Issuing an out of date copy will prevent you from issuing a section 21 (form 6A) notice should you need to end the tenancy. For an up to date copy follow the below link
Please note the information above is a general overview and we do recommend you carry out independent research or speak to a professional.
We hope the above has been useful. If you do have any property related questions please don’t hesitate to get in contact with us.