Whether you are thinking about making your first “buy to let” investment, or you are an experienced portfolio landlord, there is lot that you need to consider when you rent out property. In fact, it can all seem a little overwhelming. But don’t panic, we are here to help.
As a landlord, you are probably aware that you have a responsibility for placing smoke alarms and, where appropriate, carbon monoxide alarms in properties that you let. But what exactly are the legal requirements? We summarise the obligations placed on landlords and present some useful advice to ensure you remain both complaint and provide a safe premises for your tenants.
The Tenant Fee Bill, which has been debated since 2016, is now scheduled to become law on June 1, 2019. At that date, letting agents and landlords will be restricted in what they can charge tenants as up-front costs and fees. After June 1, landlords and agents will only be allowed to take payment for rents and deposits.
If you are thinking about renting out a property, there are a significant number of statutory and regulatory requirements that you need to meet as a landlord. In fact, there are around 145 laws, and over 400 regulations, that need to be followed to legally let a property in England and Wales (Source – PropertyMark 2018).