Your Landlord Checklist
Being a landlord can be both financially and personally satisfying however, the perks of being a landlord can easily be outweighed out by the risks if you don't have the correct precautions and policies in place. If you are looking for a way to protect your property, tenants, and yourself we have created a checklist to help you out.
Check your property
- Make sure the property is safe
It is important, and in many cases, a legal requirement, that your rental property has safety measures and certifications in place. If a landlord fails to do this they could be liable for any fines or convictions.
How to ensure your rental property is safe and abides by safety standards:
- Smoke alarms on every floor
- Carbon monoxide alarms in all rooms that there is a solid fuel-burning appliance
- Provide your tenants with a Gas Safety Certificate (CP12)
- Ensure all electrical systems such as light fittings and sockets are safe
- Check that all your cookers and kettles are safe
- Arrange an Energy Performance Certificate (EPC)
Tenants are to be provided with a valid EPC on the day that they move into a property. Each time a new tenant moves in you are required to provide a new EPC. T
- Cleaning your property and garden
Your property should be in good condition both inside and out. Check for any signs of mildew or rot and make sure that everything is clean and well kept.
- Furniture & Furnishings Regulations
If your property is furnished you will need to make sure that all your furniture meets the fire resistance requirements.
- How to rent guide
It is a legal requirement to provide all tenants with the ‘How to Rent’ guide before they move into the property. You can find a copy of this document on the gov.uk website.
- Right to Rent checks
The Right to Rent scheme requires landlords to check if all those over the age of 18 have the legal right to rent in the UK.
- Tenants Deposit
All landlords must place the deposit they receive from their tenants into a Deposit Protection Scheme (DPS) within 30 days of receiving it. The DPS scheme also requires landlords to provide tenants with information such as where the deposit has been secured.
- Reference your tenants
Tenant referencing is not a legal requirement however, it can help minimise the risks for a landlord. A reference from their previous landlord will help you make an informed decision on which tenant you take on.
- Tenancy agreement
When a tenant agrees to rent your property, you should provide them with a tenancy agreement that gives them the authority to live in your property and you the ability to be paid by them. The most common type of tenancy agreement is the Assured Shorthold Tenancy (AST).
Landlord risk prevention
- Landlord Insurance
When renting out a property there is the chance of appliance breakdowns or even pest infestations all of which are out of the hands of landlords. Luckily for you Big Warranties have you covered providing all landlords with:
- A good relationship with tenants
Having a good relationship with your tenants can help reduce the risks of renting out your property. Listening to what they have to say and making sure that they are comfortable in their new home can help improve your tenant-landlord relationship. This could ultimately save you money, time and hassle in the long term.
So what do I legally need to have in place as a landlord?
Landlords legal checklist:
- Gas Safety check
- Smoke and Carbon Monoxide Alarms
- Energy Performance Certificate (EPC)
- Tenancy Deposit Scheme
- Landlord selective license
- Furniture & furnishings Regulations
- Electrical safety standards (EICR)
- Right to Rent
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