Preparing to fail - the landlords new mantra

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

After AST has started

• 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