Letting your property for the first time? Here are the basics of what you need to know.
The Tenancy Agreement.
Letting Land use an Assured Short hold Tenancy Agreement. This is a professional and legal document which is of utmost importance in a successful Tenancy. The terms of this agreement will be agreed by all parties before a tenant takes possession.
A detailed Inventory is essential to avoid difficulties arising from damage disputes.
Landlords may either:
~Produce their own inventory
~Instruct us to get a third party company to make a new one (recommended)
The Security Deposit.
A Security Deposit of one months rent will be collected from the Tenant on or before the date they take possession of the property.
Due to Government legislation, security deposits must be PROTECTED. The security deposit is held to cover any costs incurred by the Landlord for damage to the property caused by the tenant.
Letting Land will inform the Council, gas, water & electric companies, in writing, at the start and end of the tenancy.
Section 21 Notice.
This is the notice that is served on a tenant should you require the property back.
Furniture and Furnishings (Fire) (Safety) Regulations:
Effective from 1st March 1993, Landlords letting residential property will be expected to ensure that all upholstered furniture complies with the Fire and Furnishings (Fire Safety) Regulations 1988.
Electrical Safety Requirements
The electrical Safety regulations require that any electrical appliances supplied must be safe. This test can be arranged through Letting Land.
Buildings and Contents Insurance
It is the Landlords responsibility to ensure that the property's insurance covers adequately. You may need to inform your current insurer that you will be renting the property.
Energy Performance Certificate
From 1st October 2008 all properties advertised to let must have in place a valid Energy Performance Certificate.
Gas Safety Regulations:
All gas appliances in rented properties are required by law to have an annual inspection by a GAS SAFE registered engineer. The final responsibility ultimately falls with the Landlord to ensure the Gas Safety Certificate is renewed on time.