by Daniel Jones
The NLA (National Landlords Association) has published guidelines for first-time landlords to ensure that new landlords comply with essential property letting regulations.
David Salusbury, chairman of the NLA, says: “There are currently a record number of people searching for rental properties, meaning would-be landlords would have no problem finding a tenant.
“Letting a property can be a rewarding experience and an effective way of providing additional income, but prospective landlords will need to remember they are effectively starting a small business.
“They must ensure they are well aware of the rules and regulations governing the letting of private residential accommodation.”
NLA’s top tips for first-time landlords
1. Tenancy agreements
Provide your tenant with a proper tenancy agreement, that is signed by you and the tenant. The tenancy agreement should outline agreed rent and date of payment, length of tenancy, and deposit details for the UK property being rented.
Find out which tenancy agreement is right for you.
If you take a deposit from your tenant it must be protected under one of the government-authorised tenancy deposit protection schemes, and you must give notice to the tenant of the scheme being used within 14 days of taking the deposit.
If the scheme administrators don’t provide you with a form of notice, you can inform your tenants with a Tenancy Deposit Protection (Section 213 Notice). There are currently three schemes:
Find out more about the tenancy deposit schemes.
3. Property inventory
Create a property inventory detailing the furnishings and condition of the house, to ensure that your property is protected.
Find out why landlords need a property inventory.
Take out comprehensive landlord insurance.
Ensure urgent repairs are fixed promptly.
6. Gas safety
Check the property's gas appliances by a Gas Safe registered engineer every year and tenants should be given a Gas Safety Certificate.
Published on: January 11, 2012