Relax and let your Letting Agent take the Strain
Thu 22 Nov 2018
Landlords, are you confident enough to manage your property yourself?
Unless you have a lot of experience, spare time to attend training courses and have the right access to legal and practical information you could be risking fines and even imprisonment if you get it wrong.
To protect your investment, all landlords need to be aware of their statutory obligations together with the rights of the tenants living in their property.
A good Managing Agent will be aware of all recent legislation and also have a list of reliable contractors covering all skills for when a repair is required. Having trusted contractors on hand is hugely time saving and dealing with a problem quickly will often keep the tenants happy and any necessary works to a minimum.
However, there are many other aspects to letting a property that the landlord needs to consider, some of which include:-
Provide a detailed Inventory and Schedule of Condition at the start of the tenancy together with a Check-out Report at the end of the tenancy. Without these documents any dilapidations would be hard to prove if the landlord felt a deduction from the deposit was required.
Drawing up a detailed Assured Shorthold Tenancy Agreement to ensure that both sides are aware of their obligations and responsibilities.
Arranging for an up-to-date Landlords Gas Safety Certificate and a Legionella Risk Assessment Report.
Ensuring the property meets the minimum energy performance standards.
Right to Right checks must be carried out on all occupants and further checks taken for those who are on a time limited VISA.
Registering the tenants deposit within 30 days and providing the tenant with a certificate to prove their deposit is protected, together with the prescribed information.
In the event of requiring possession it is essential that the correct notice procedure has been adhered to and the correct notice is used in order for this to be valid.
Lettings and Property Management is a specialist industry and most landlords want peace of mind that all matters are being dealt with correctly, in a professional manner that is within the law.
A good Managing Agent will be aware of legislative changes within the industry and will know the correct procedures to follow in all issues that may arise when a property is being let. They will have the knowledge and expertise to ensure a tenancy runs as smoothly as possible for both the landlord and the tenant.
Check that your Agent clearly shows their fees on their website and in their office, as is required by Trading Standards. Agents who are regulated will provide Client Money Protection to their landlords and tenants which is an added benefit and offers peace of mind.