Renting out a property – The Checklist

House checklist

No matter what type of landlord you are, there is a lot of work involved! When it comes to getting a property set for its new tenants, there is no doubt that this is the more stressful and busier time for any landlord.

There are many attributes that need to be prepared when letting to a new tenant. From legal obligations, to maintenance of the property, letting a property out is never a small task.

With all this to take in, we have produced a checklist to help any landlord be organised and well prepared for any new tenants coming through their doors.

The main responsibilities that need to be ticked off are:

 

  • Giving the property the right exposure when advertising
  • Arranging a tenancy agreement
  • Arranging an EPC
  • Conducting tenant checks
  • Making sure your property is structurally safe to rent
  • Conducting an immigration Right to Rent check on a new tenant
  • Checking any landlord insurances that have been taken out are up to date
  • Making sure the property is clean
  • Conducting an inventory on the property before the tenant moves in
  • Having protection for a tenants’ deposit on the property

 

Giving the property the right exposure when advertising

Whether you self-manage a property or choose a letting agent, good advertising is crucial to getting the right tenant in.

These days, most tenants start their search for a property online through a property portal. To get tenants in quickly, ensure you choose a web-friendly site and have up to date photos with a short but to the point description of the property.

 

Arranging a tenancy agreement

When a landlord finally finds the right tenant, then it’s a must to draw up a tenancy agreement. This is basically an official contract regarding the tenant’s rights to living at a landlord’s property.

If a landlord decides to change any of the terms, there must be approval from the tenant first. Depending on the type of landlord you are, this can decipher whether you, as a landlord, need to sort this yourself. Those that self manage properties will need to find a sample template of an agreement to draw up their own contract. Those that use a letting agency are more than likely not to have deal with this.

 

Arranging an EPC

All landlords are required to have an EPC (Energy Performance Certificate) and be able to prove this to any tenants. In 2008, it became law that all rental properties must have an EPC rating within their advertisements. It is used to show how energy efficient a property is and must be provided every time a new tenant moves in.

 

Conducting tenant checks

Conducting tenant referencing is an integral part when It comes to renting a property out. By checking on perspective tenants, it can minimise any risks later down the line.

A tenant reference includes basic information and banking/employment details past and present.

Landlords should take time to looking through any new tenants to ensure the right tenant is in their property.

 

Making sure your property is structurally safe to rent

This is defiantly the most crucial point to this article. Safety is always paramount. Landlords have the duty to keep their tenants safe when renting a property. There is recent regulations that have been put in place that landlords can follow, such as having to install smoke alarms across a property.

Additionally, it is a legal requirement that tenants need to be provided with a valid Gas Safety certificate before starting the tenancy.

 

Conducting an immigration Right to Rent check on a new tenant

Since the start of 2016, this has become a legal part of a pre-tenancy check. It requires a landlord to check whether their new/perspective tenant have the legal right to rent a UK property. Those that skip this step and are caught could receive fines around £3000 per tenant.

There are many online tools you can use through the government website to make sure you get this checked off your list.

 

Checking any landlord insurances that have been taken out are up to date

It is inevitable that at any property, there is bound to be something that needs repairing in the duration of a tenants stay. To avoid any costly repairs, landlords need to take out insurances on their properties to ensure they will be covered if something goes wrong.

If a landlord alters their rental property, then checks must be made with the current insurer to make sure this is allowed and won’t go against the current policy.

 

Making sure the property is clean

This may seem a bit too obvious, however it is key to making a good impression on new tenants and setting the tone. Having a clean property from the start will help attract tenants into renting your property.

Also, you must decide whether to rent your property with, without or partly furnished. Items that hold personal value and aren’t for tenants to use should be removed.

 

Conducting an inventory on the property before the tenant moves in

Before the tenancy starts, a relatively large task that needs to be completed is conducting an inventory. This also needs to be done after a tenancy and basically makes sure that everything is accounted for in the property.

If you are self-managed landlord, it may be worth asking the assistance of an expert to make sure everything is done correctly.

 

Having protection for a tenants’ deposit on the property  

Every landlord needs to choose a Government-backed tenancy deposit scheme to use and deposit a tenant’s deposit. There are three types that the Government have approved which are Tenancy Deposit Scheme, MyDeposits and Deposit Protection Service.

Jess Mitchell

I started writing for PPO back in August 2019. I particularly enjoy writing about new housing developments and upcoming property events.

About Sophia 68 Articles
I started writing for PPO back in August 2019. I particularly enjoy writing about new housing developments and upcoming property events.

Be the first to comment

Leave a Reply

Your email address will not be published.


*