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23/11/2005
Legal Tips for Landlords |
Written by solicitor Tessa Shepperson.
Becoming a landlord is not just about arranging the finance and then sitting back and waiting for the money to come rolling in. There are many legal requirements which landlords have to comply with, both in connection with letting the property and in connection with dealing with tenants when problems arise. Even if your property is managed by a letting agent, it is a good idea to have some understanding of these legal aspects of letting a property.
Here, Tessa Shepperson, solicitor and author of the well known web-site Landlord-Law Online, gives her ten top tips for landlords on property letting.
1. If you are a new landlord, make sure you have at least a basic knowledge of the relevant law and the legal requirements imposed on residential landlords, before you start letting any property
2. Chose your tenants very, very, carefully. Once they are in possession of the property it will take time and possibly a court action to get them out again, if they prove unsatisfactory.
3. Before letting, make sure that the property is in good repair and that the furniture and other contents comply with the various product safety legislation
4. If there are any gas appliances at the property, make sure you get the property inspected annually by a CORGI registered plumber and give the necessary certificates to the tenants when they go into the property and annually thereafter
5. Do not set too high a rent. It is better to have a tenant in the property paying a modest rent than to set a high rent and have the property remain empty
6. Make sure that you have a proper form of tenancy agreement which sets out all the obligations of the tenants and protects your position as landlord, and ensure that all the tenants sign it before they go in. Note - older forms of tenancy agreement may not now comply with current legislation.
7. Have a proper and detailed inventory/schedule of condition prepared for the property and its contents, and go through this with the tenants both when they go in and when they leave. This may prevent arguments about deductions from the damage deposit later.
8. If the tenants fall into rent arrears take immediate action and write asking for payment. If the arrears rise to two months/eight weeks, take immediate steps to serve a section 8 notice and consider bringing proceedings for possession. Remember that if the tenant pays no further rent, arrears of at least four months will have accrued by the time a possession order is obtained. Can you afford to trust them?
9. If the tenants appear to have gone you need to be very careful indeed about re-entering the property without a court order. Remember that unlawful eviction is a criminal offence and can also make you liable in the civil courts for a substantial order in damages (plus you will probably end up having to pay the tenant's legal costs).
10. And finally - ensure that you are kept up to date with legal developments. This is particularly important if you are managing your property yourself. For example many HMOs will need to be licensed from April next year and a mandatory tenancy deposit scheme is scheduled to be introduced in October 2006. Further legal changes are planned by the government. Join your local Landlords Association or the writers online service Landlord-Law, or subscribe to a suitable periodical, to make sure you are kept informed - ignorance of the law is no defence!
You can read more about the legal aspects of letting a property on Tessa's web-site Landlord-Law Online at www.landlordlaw.co.uk
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