Landlords and the Law
Updated: Nov 11, 2018
Have you found a tenant and your now faced with the daunting work of the paperwork to move the tenant in? Being a landlord is a responsible role and carries certain legal obligations. Here are our 9 top tips on what you should be doing/checking.
Below is a very brief summary of just some on the areas covered by laws and regulations. *
Consents to Let
Do you have permission from your mortgage lender to let the property?
This is a very important document in the lettings process. The Assured Shorthold Tenancy (AST) is the most common type of agreement which provides the tenant with certain protections and gives the landlord rights to regain possession.
Every gas appliance must be checked before a tenant moves in and annually thereafter.
Any electrical appliances in the rented property must be checked by a qualified engineer to verify their safety.
Energy Performance Certificate
As a landlord, your property must have one of these certificates assessing its energy performance. From April 2018 your EPC must have a rating of A-E, if you have an energy rating of F or G from April 2018 you will to be able to rent the property or renew the existing tenancy.
Properties built after 1992 must have mains wired smoke alarms on each floor. We strongly recommend that landlords provide smoke and carbon monoxide alarms in their properties.
Tax on Rental Property Income
All rental income from property in the UK is taxable. If you are unsure of your liabilities contact a specialist tax accountant.
Tenancy Deposit Scheme
For all AST’s the tenant’s deposit should be registered with a recognised deposit protection scheme.
Before the rental starts a full inventory should be undertaken and supplied to both the landlord and tenant.
*The information here is for guide purposes only. It does not constitute legal advice.
Thanks for reading and if you have any other property related questions please don’t hesitate to get in touch – we’d love to help you.