There are many rules and regulations to adhere to when it comes to being a landlord, and at times it can seem a bit daunting. Below are some key pieces of advice for landlords, to help you along the way.
- Property inspection
Landlords can inspect a property whilst it is being rented, in accordance to details laid out in the tenancy agreement. Tenants must be given the correct notice periods and landlords must respect their right to live in a quiet environment.
- Prospective tenants
Similar to property inspections, if stated in the tenancy agreement, landlords can show prospective tenants around the property when an existing tenancy agreement is nearing its end. Again, landlords must give tenants the correct notice periods and respect their right to live in a quite environment.
If an existing tenancy agreement is coming to an end, you can repossess your property by issuing your tenants with the correct period of notice and documentation.
In certain circumstances, you can take legal action to evict a tenant when there have been defaults on rent payments or damage to your property.
- Tenancy agreement
You can add additional requirements to the basic structure of a tenancy agreement. Additional conditions such as, no children, pets or smokers can be specified in the drawing up of a tenancy agreement.
For further information and advice about your rights as a landlord, please visit Directgov, the official government website.
When renting out a property there are some basic measures you can take initially to help you in the future, should a problem ever arise.
- Take an inventory
List all fixtures and fittings that are within the house, and note their condition at the point of rental. By doing this, you will know if anything is missing or broken when tenants leave. This also enables you to keep a record of what is within the property that is your responsibility to maintain and fix.
- Take pictures
Before renting out your home take pictures of all the rooms and outdoor space if applicable. These pictures can act as evidence if the property is damaged in any way by the tenants during the tenancy.
- Collect you tenant's details
When drawing up a tenancy agreement, make sure you know who you are renting your property to. Collect your tenant's personal information, and ask them for proof of identification.
- Reference your tenants
Make sure you acquire references from your tenants. If you are renting to students or someone who is unemployed, it is recommended that you request a guarantor. This means, if they default on payments, their guarantor may be asked to provide the payment for them.
The information contained within this article is specific to landlords in England. For Scotland, Wales and Northern Ireland contact your local authority for further information.