With the rental market continuing to flourish, now is a better time than any to start your property business.
But with plenty of red tape and regulatory rules to overcome, being a landlord is not as simple as collecting rent at the end of each month.
To support you, we’re sharing helpful tips that every landlord should know before starting out.
For further help and advice, don’t forget to get in touch with our expert landlord support team today.
Smoke alarms and carbon monoxide detectors
Landlords are legally required to install a smoke alarm on every level of their property and are responsible for ensuring that they are working correctly prior to the first day of a new tenancy.
Likewise, carbon monoxide detectors should be installed in any room where solid fuels are burnt – for example, a wood-burning stove or open fire.
Gas Safety and Electrical Performance Certificate
Before moving tenants in, your property must have a valid Gas Safety Certificate (GSC) and Electrical Performance Certificate (EPC). Copies of these documents should also be provided to tenants.
To furnish or not to furnish?
If you intend to rent your property to students and young people, a furnished home is much more attractive. But don’t forget that any furniture included in the property should comply with the fire and furnishings act.
Should I allow pets?
This decision is entirely up to you, but allowing pets may increase the attractiveness of your property – and you may be able to charge more rent.
If your property is leasehold, first check with the freeholder if pets are allowed in the building.
Landlord License
Some councils in England require property owners to obtain a Landlord License before they rent their property. Visit your local authority website to check the rules and regulations in your area.
Keep up to date with Brookings
For more property rental tips and the latest advice, follow our Twitter page here. We will be posting more top tips next week, so keep your eyes peeled!
