This is the first step when deciding to rent your property. We urge you to comprehensively consider all factors which will be unique to your circumstances. One of the most important considerations is to understand how much your property will be worth in the current rental market and understand all the costs involved in renting your property. To get this right you will need to understand the local property market and the current demand. As a Landlord, there are a number of legal requirements that you need to be aware of and which your agent can advise you on. If the balance works in your favour, then your next step is to appoint the right agent to help find you find the right tenant.
The right agent will act as your partner in this venture and will do their upmost to protect you and navigate you through the process with due diligence and correct guidance. Our experts will advise you on everything you need to know to achieve the best outcome and stay compliant in an ever-changing market. You need to decide how you see the whole journey, whether you want the agent to only market the property for you and secure a suitable tenant or to take over the management of the tenancy and help with collecting the rent, ongoing compliance certification, repairs and communication with your tenant ect..
Presenting your property in its best light can speed the process up, attract tenants and maximise results. We advise that all repair work be completed before viewings take place and that the property is kept in a clean and tidy condition and is well ventilated. Prospective Tenants remember how a property makes them feel as well as how it looks. Tenants on average spend 10 – 15 minutes on a viewing. They usually make a decision during this time and a well presented property will give you the edge over the competition. Being able to access the property fluidly will heavily improve your chances of finding a tenant quicker. Leaving a set of keys to the property for your agent at the point of instruction along with occupants’ details (if applicable) will support fluid access and help with contractors needing to carry out vital compliance certificates. This will avoid any last-minute delays on the move date and provide you with a convenient base were you may otherwise not be able to arrange access.
You may have some idea of what type of tenancy you want, what length of contract suits you, whether you let the property with furniture ect.. These aspirations are specific to you and your situation and should be considered before committing to a tenants’ offer. A typical private rent would fall under an Assured Shorthold Tenancy (AST) which starts out as a fixed term anywhere from 6 months to 3 years as agreed between the Landlord and Tenant. Once the property has gone to market your Agent should keep you updated with viewings and feedback. Market conditions can change during this period and its is important to listen to the advice that your Agent gives and consider any adjustments and recommendations. Ultimately you both have the same goal.
Any Prospective Tenant will place an offer through your agent which will outline all of the key points of information for you to consider and make a decision. Once you have considered and accepted an offer made; your agent will request the Tenants to pay a Holding Deposit to secure the property subject to Referencing & Contract. There will be various important documents that will need to be reviewed and signed in this period before you can proceed with the tenancy. Once you have reviewed and approved References the tenant will then pay the outstanding balance which will include the security deposit and sign the Tenancy Agreement. The security deposit must be treated with due diligence and your agent will be able to help ensure that you are compliant with legislation to protect the deposit.
Once all of the necessary steps have been taken to secure your new tenant you will need to make sure that all agreed terms, Safety Certificates and paperwork will be completed on time. We recommend aiming for 3 working days before the agreed start date of the tenancy to ensure there are no costly eleventh-hour changes. The last thing you want is to delay the tenancy start date because a gas safety certificate or painting of the bedroom wasn’t completed on time. You should also at this stage prepare or employ an independent Inventory Clerk to carry out an Inventory and Check in for the property. On request your agent may be able to assist with organising the Safety Certificates or Inventory and Check In.
All is now ready and your Tenants have moved in. Depending on whether you choose to have the tenancy professionally managed you may need to communicate any queries and issues that arise to the tenants. This relationship is an important one, its worth nurturing as you will need to have regular communication through the length of the tenancy. Towards the end of the tenancy your Agent will contact both parties 3 month prior to the end of the fixed term to confirm intentions. If either party wish to terminate the tenancy, depending on your chosen level of service, your agent can help you with the deposit release and any potential deduction from the security deposit.
There are a lot of things to consider as a Landlord, it is important to be aware of your rights and obligations. We recommend you read and ensure you understand all of the paperwork issued to you and if you have any doubts, you should seek independent legal advice. The government has issued a ‘How to Let Guide’ that your agent will supply you with at the early stages of the process which is also available on the following link https://www.gov.uk/government/publications/how-to-let . Please see some of the keys compliance actions that need to be in place.
You must ensure an annual Gas Safety Check on each gas appliance and flue is carried out and keep a record of each check. Once this has been done you’ll be given a Landlord Gas Safety Record or Gas Safety Certificate which you must provide to current tenants within 28 days or new tenants at the start of their tenancy. Failure to do so may mean you are not able to use section 21 of the Housing Act 1988 to take possession of your property if needed.
Under the Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020, you will have to get your property electrics checked at least every five years by a properly qualified person. The electrics must be safe and you must give your tenant proof of this. For more information please see guidance on electrical safety standards in the private rented sector.
You must provide tenants with an Energy Performance Certificate (EPC) (except some HMOs, for example bedsits or where you let out individual rooms) at the earliest opportunity. You may not be able to obtain possession of your property using a Section 21 notice unless you provide this.
Since April 2020, all privately rented properties must have a minimum EPC rating of E. Where a property qualifies for an exemption, this must be registered on the National PRS Exemptions Register.
More information on EPC’s can be found on: https://www.gov.uk/government/publications/how-to-let
It is recommended that you regularly carry out portable appliance testing (PAT) on any electrical appliances you provide and supply the tenant with a record of any electrical inspections carried out. You should ensure that anybody carrying out electrical work on the property is competent to do so.
Working smoke alarms must be installed on every storey of living accommodation. If your property has any rooms that contain a solid fuel appliance, such as a wood burning stove, working open fire ect., you must also install carbon monoxide alarms in those rooms
You or your Agent must carry out a check on the first day of a new tenancy to ensure that smoke and carbon monoxide alarms are in working order Failure to comply can lead to a civil penalty of up to £5,000.
Enforcement officers in your local authority or fire safety officers in your local fire and rescue service can advise those managing HMOs of the fire safety requirements, as these may differ.
You must ensure that any furniture supplied has the required fire safety labels and is fire resistant. You can find further information on Product Safety here
You must ensure the water supply is in working order and carry out a risk assessment to assess the risk from exposure to Legionella
As the landlord, you must check whether a tenant is aged 18 or over and can legally rent in England.There are two types of Right To Rent checks; a manual document-based check or a check via the Home Office online checking service. Conducting either the manual check or the online check as set out in the Code of practice on right to rent: civil penalty scheme for landlords and their agents will provide you with a statutory excuse against a civil penalty. You may need to contact the Home Office to carry out a Right To Rent check if the individual is not in possession of their documents. More information can be found here.
You may ask the tenant to pay a deposit before moving into your property in case of any damage or unpaid bills at the end of the tenancy. It’s important to remember that the deposit is the tenant’s money. For Assured Shorthold Tenancies created since 6 April 2007 the deposit must be protected by a government approved deposit protection scheme.
The Landlord or Agent must protect the deposit in one of the schemes within 30 calendar days from the day the deposit is received and must provide the tenant with details (‘Prescribed Information’) of how their deposit has been protected within the same 30-day period.
*Please note that this is not an exhaustive list of your statutory obligations as a landlord and you should seek independent legal advice should you require further guidance.