Related Legal Updates

Advice for Landlords who are letting a residential property

by Kyle Wyness | Mar 18, 2013

With the “Buy-to-Let” market going from strength to strength, renting out property continues to be a popular method of generating income. Before letting out property, there are a number of issues for a landlord to consider which will help to avoid some of the common pitfalls:-

  • Although not a legal requirement, having a written tenancy agreement is important as this clearly defines the rights and obligations of both landlord and tenant and helps to keep disputes to a minimum.
  • More and more tenants are fraudulently completing tenancy agreements with false names and details. It is important to make thorough checks on tenants which may include obtaining references; identification documents; proof of residency and making contact with previous landlords.
  • Since April 2007, landlords who let properties under an Assured Shorthold Tenancy are required to protect any deposit received from a tenant (in one of certain approved schemes) and also provide certain “prescribed information” to their tenants within 30 days of receiving the deposit. A failure to do so can result in sanctions being imposed.
  • Landlords need to consider their mortgage agreement as usually there is a requirement to obtain the mortgage lender’s consent before granting a tenancy.
  • It is important for landlords to act proactively when problems arise.

If you are a landlord or considering becoming one, Spratt Endicott have a team of experts who can offer you advice on all property-related issues. Please contact Kyle Wyness, solicitor at Spratt Endicott on 01295 204135 or email Kyle at kwyness@se-law.co.uk

 

To Let Sign