With Government regulations on letting out property becoming increasingly tight, Matthew Ayres, Associate at Fisher German, advises caution when letting out a new property and suggests looking at our new, comprehensive guide for landlords first.
To let or not to let? That is the question for many landlords with a second or multi property ownership. Unfortunately, with the government showing signs of regulating residential lettings, the answer may not be straightforward.
It is crucial for all landlords - whether now or in the future - to be responsible and understand the current legislative and safety obligations before and during third party occupation of residential property.
Letting guidelines and requirements for dwellings are continually evolving, not only due to government guidelines, but because of economic and lifestyle changes too.
We take great pride in the advice we offer our landlords to protect them and their respective properties. Due to the wealth of information available and to avoid the potential non-compliant landlord traps, we have created the first edition of our residential letting compliance and information document.
It summarises all the current key requirements, best practice procedures and other information which affect the renting of private dwellings in England and Wales, including energy performance, electricity safety, tenancy deposits and tenant fees.
Three key areas that have changed recently are electrical systems, Energy Efficiency and if appropriate, septic tanks. Steps will be required to action appropriately and be compliant if landlords would like to let, or continue to let, residential property. This is all covered in our guide.
For anyone proposing to market a property to rent, it is important that all the appropriate works are done prior to the launch onto the market as there are sometimes different dates for action for a new letting compared to an existing tenancy.
Although we do not want to be pessimistic, residential lettings are becoming increasingly regulated and are coming more and more under the Government microscope and at some stage with all the requirements, it may become the key thought in the decision-making process.
Our team of experts in this dynamic area are here to guide landlords and provide a comprehensive service whether that being advising in Landlord and Tenant matters, tenant finding or property management.
Anyone seeking further information should contact their local office or any of our regional contacts included within our document. It will be updated if any new legislation comes in.