In an age where concerns over pensions mean people are looking for the best return for their money and sound investments, becoming a property owner and landlord is no longer something restricted to those with pots of money.
However, some landlords are not fulfilling their legal obligations when it comes to their tenanted properties.
If you are going it alone without using the services of a letting agent such as Ashmore Estates, there can be a number of elements you need to be aware of and act on.
Perhaps one of the most obvious concerns safety in the property – more precisely gas, electric and fires safety standards. Though tedious, you must ensure your property has the appropriate certificates and inspections completed. Failing to provide these can have serious consequences should something unfortunately go wrong. If you are renting your property as a property with multiple occupancies, this too needs the appropriate licence, as a property must meet certain conditions, such as the presence of smoke detectors and fire doors.
Inexperienced landlords may not realise that they must use a tenancy deposit scheme when they first acquire a tenant for their property. These Government backed schemes mean a tenant will receive their original deposit back if they have met the terms of their tenancy agreement, not damaged the property and have paid all rent and bills. The landlord or letting agent must register the deposit within 30 days of receiving it. If the deposit is not registered, the tenant can prosecute the landlord for three times the deposit and a Section 21 notice to take back the property cannot be served.
If the landlord is hoping to take back the property, there are legal procedures to follow, otherwise to force a tenant to leave would be classed as an illegal eviction. Landlords are also prevented from harassing tenants – for example coming to the property at unsuitable times or too often. Both the illegal eviction and harassing a tenant are serious criminal offences which carry fines or even lead to imprisonment.
All landlords must also provide a UK name and address as again, failure to do so is a criminal offence.
Though letting a property is a good source of income, landlord must member their obligations and fulfil their part of the tenant landlord relationship because failure to do so can prove costly and illegal.
