With 168 acts and 400+ regulation now Governing the private rented sector, it can be very easy to miss dotting a few 'i's' or failing to cross a few 'T's', but the fall out from this can have a huge impact on landlord both personally and financially, with some breaches of basic tenancy law bringing a criminal conviction or hefty fines.
My advice to anyone renting a property whether an agent or landlord is - Prepare to fail.
Now i am not saying get it wrong and hope for the worst, I am saying prepare with the worst case scenario already planned out.
I find 99% of landlords fail at the first hurdle when they want to evict a tenant because they didn't issue pre-tenancy documents correctly or failed to protect a deposit
Always make sure you have done PDA - no - not Public Displays of Affection but Pre-During-After tenancy compliance.
Pre-tenancy is just as legally important as during a tenancy and after the tenant has left
Holding Deposit:- Not a legal requirement, but if you take one to secure the property it MUST:
- Be no more than 1 weeks rent
- Held for no more than 14 days without either returning / applying to balance or getting written extension to the 14 days
- You MUST also provide a receipt, written use of the HD and a draft copy of the AST
Or you Breach the Tenant Fee Ban Act and could risk some hefty fines
Before the AST is signed you MUST provide
- EPC- min rating E
- Up to date Gas cert (CP12)
- How to Rent guide ( latest version)
- EICR 5 yr elect test
- Carry out Right to Rent checks
- Protect deposit within 30 days of it being paid NOT of the tenancy starting
- Provide prescribed information within 30 days of it being paid NOT of the tenancy starting.
Not a legal requirement
• Security Deposit - a social norm not a legal requirement, BUT if you do take one it must be a max of 5x weeks rent
•Inventory- very good practice but not legal requirement
During tenancy:
- • Not enter the property without the tenants express permission
- • Attend to Maintenon in a timely fashion
- • Keep a open dialogue with tenants, don’t just wait for an issue
- • Regular property inspections
At end of tenancy
- Tenant doesn’t have to give notice to end a fixed term is they are leaving on the date it naturally ends
- • periodic tenancy they must give 1 months notice
- • you can only do viewings if tenant allows- nope doesn’t matter what your AST says
- • check out- not a legal requirement but if you did a n inventory then a C/O is a must if you want a chance at claiming on deposit
Rent arrears
• Contact the tenant when they are 1 day late...Ask if they are ok? This immediate and softer initial approach gets a much better outcome
Remember agents may cost you 5%-20% but you are paying for years of knowledge, experience and a detailed understanding of the 168 acts and 400+ regulation
They don’t just let and forget
Self manage when you have the time and experience
Or you could find you are a criminal over night
