Regulatory framework which should be complied by Landlords are keep changing constantly. This makes new Landlords as well as experienced Landlords a hazel to dealt with when they are letting or renewing the agreements with the tenancies.
For easy reference we have listed the 9 essential steps which you should ensure before you go let your property.
Step 1: Check your licence are right?
You should have the relevant HMO licence If your property is classified as an HMO (house of multiple occupations) property. An HMO property can be described as a property which is rented to five or more people that are not from one household. As a landlord you should ensure your property fits for habitation of this number of occupants.
Step 2: Get your EPC inspection done
All properties that are to be let must get their valid energy performance certificate. As of April 2020, the requirement of this certification is to have a minimum rating of E or above. Unless you have the valid energy performance certificate, letting the property can not be done. And this requirement has been advanced up to have the minimum standard of C or above from early 2025.
Step 3: Gas, Electrical, Fire and Carbon Monoxide safety aspects
As a landlord your tenant should be supplied with a valid copy of the gas safety certificate. For this a Gas Safe Registered Engineer should conduct an annual inspection, and all the matters raised by the engineer must be rectified.
Your letting property needs to be certified for an electrical safety inspection for once in every five years. The matters highlighted in the inspection report must be rectified with in 28 days of the inspection. In addition to this all the electrical appliances in the letting property should be tested for PAT (Portable Appliance Testing) annually.
Landlords should ensure the properties are complied with fire safety regulations. In brief all the floors should be equipped with working fire alarms, all the furniture provided by the landlord should be fire resistant and clear pathways should be established for any fire escape routes.
HMO properties should abide by the additional requirement of providing the fire extinguishers.
Carbon Monoxide Safety
If there is a room contains a solid fuel burning appliances those properties should be fitted with working carbon monoxide detectors.
Step 4: Check your landlord insurance policy
Having a landlord insurance policy is not a legal requirement. This is for protecting your interest regarding the property you let.
Step 5: Get your property viewed by prospective tenants
Market your property using different platform using internet. You may use Facebook marketplace, Zoopla, Gum Tree. Make sure you use the good quality photographs with correct description about the property and all-important amenities. When writing the description, no discrimination should be made against any of the protected characteristics, including disability, race, religion or belief, pregnancy or maternity, gender, and sexual orientation (Equality Act 2010)
Step 6: Verify the applicant’s right to rent a property
This is a very important step. Before entering into an agreement, every landlord should check the right to rent of every prospective tenant.
Step 7: Creating the Tenancy Agreement
A Tenancy agreement which covers all qualitative and quantitative aspects should be prepared. The assistance can be taken from the UK government website (model agreement for a shorthold assured tenancy) Or seek online support.
Step 8: Collect Tenants deposit
The Deposit amount that can be collected from a tenant is capped at five weeks rent for annual leases less than £50,000 and six weeks rent for leases more than £ 50,000.
Collecting a rent deposit is recommended and the collected deposits should be deposited with one of schemes; The deposit protection service/My deposits/ The Tenancy deposit schemes. The tenant should be informed about the scheme that the deposit had been placed with.
Step 09: Inspect and prepare the property
A list of inventories must be prepared before the tenants occupy the property and the inventory list should be checked and signed by both parties. Landlords are advised to take any photographs of damaged items and inform the tenant about the same which will enable to agree on the things which additional damages are done during the rented period. This essential for landlords to claim any repair cost id necessary.
All landlords must share government how to rent guide when they move into the property.