The private rented sector in England is governed by an increasingly complex array of legislative and regulatory requirements, a breach of which can carry significant financial penalties or even cause a landlord to conduct a criminal offence.
If you are planning to let out a property in the Private Rented Sector, there is a considerable amount of work that you will need to do to ensure that you are compliant with legislation and that your property is safe and ready for tenant occupation. Our checklist is designed to help you get things in order.
Where a property is let under an assured shorthold tenancy, there is a legal requirement under the Housing Act 2004 for landlords to place a tenant’s deposit into a Government backed tenancy deposit protection scheme. There are two types of scheme – custodial or insured.
The Institute of Economic Affairs has issued a damning report on the impact of taxation on the Private Rented Sector (PRS) entitled "Taxation without Justification". Landlords are being forced to re-evaluate the economics of the industry, with many considering increasing rents to buffer the impact of considerable government intervention.