As a leading Bolton estate agent, we understand the importance of meeting the requirements for letting a property.
The following is a summary of the requirements of landlords in meeting all the compliance checks.
Landlord compliance means ensuring all the legislation that governs rental properties in the UK is followed. This relates to specific regulations to ensure the safety and well-being of tenants is met, along with protecting your investment.
Landlords must meet their legal obligations and maintain a positive relationship with tenants, through the process of creating a safe and secure living environment.
Rental properties must meet safety standards and following a compliance checklist is essential for avoiding legal issues, fines, and potential lawsuits.
Safety Standards
Fitness for Human Habitation
This legislation is in place to ensure a property is fit for human habitation before and throughout a tenancy. It relates to a number of factors including damp, ventilation, drainage and water supply.
Electrical Services
All electrical installations in a rental property must be inspected and tested by a qualified and competent.
Gas Services
All gas appliances in a property must be inspected by a Gas Safe registered engineer annually and a gas safety certificate must be obtained and kept on record, with the tenants receiving a copy of the certificate.
Legionella Testing
The property should be assessed for the risk of exposure to legionella.
Furniture & Furnishings Regulations
All furniture and furnishings within a tenanted property must adhere to fire and safety regulations.
Smoke & CO Alarms
A rental property must be fitted with the correct alarms that are in working order. Smoke alarms must be fitted on each storey where a room is used a living accommodation. CO alarms must be fitted in each room where a gas or open fire is present.
Energy Ratings
A rental property must have an energy rating of at least ‘E’. This rating is listed within an EPC, which is completed once an energy performance assessment has been carried out on the property.
Tenant Checks
Right To Rent
Checks must be undertaken on each tenant to ensure they have the right to rent a property in the UK. At The Purple Property Shop, these checks are undertaken on your behalf.
Deposit Protection
When a tenant pays a tenancy deposit, this must legally be transferred and held by a government approved tenancy deposit protection scheme. The Purple Property Shop will do this on your behalf and the scheme we use is MyDeposits.
Financial Responsibilities
Taxes
Taxes must be paid by a landlord on any income generated from a rented home.
Overseas Landlords
If, as a landlord, you live overseas but the rental property is in the UK, then you are classed as a ‘non-resident landlord’ and therefore you must pay talk on your income.
Permission from Mortgage Lender
You must ensure you have the correct type of mortgage if you are buying a property to let. If you have an existing mortgage in place but intend to goon to rent the property out, you must ensure you obtain permission from your lender.
Landlord Insurance
Although there is no legal requirement to obtain landlord insurance, we would highly recommend having an adequate policy in place for your peace of mind and to protect both your tenant and your investment.
Material Information
A landlord must ensure the tenants are aware of any information that may impact on their decision to rent the rent the property.
Examples of this would include: Council Tax / Rights of way over the property land / parking restrictions / restrictive covenants preventing residents keeping pet.
