the Legal & Regulatory Maze
Being a landlord is a responsible role and carries hundreds of legal obligations. Here is a summary of just some of the maze of laws and regulations.
01. Consents to Let
Do you have permission from your mortgage lender to let the property? Does your buildings insurer know the property is let out and are you adequately covered? If the property is leasehold, have you gained the necessary leasehold consents?
02. tenancy Agreement
This is a very important contractual document in the lettings process. The Assured Shorthold Tenancy (AST) is the most common type of agreement which provides the tenant with certain protections and gives the landlord rights to regain possession. There are other forms of tenancy agreement, it is however vital the correct tenancy agreement is used for the circumstances to ensure you are properly protected.
03. Smoke and Carbon Monoxide Alarms
Properties built after 1992 must have mains-wired smoke alarms on each floor. It’s a legal requirement that landlords provide at least one battery operated smoke alarm per floor and where there is a solid fuel appliance, carbon monoxide alarms must also be installed in the property. Don’t forget to make sure they are installed in the appropriate places within the home.
04. Gas & Electrical Safety
Every gas appliance must be checked by a certified Gas Safe engineer before a tenant moves in and annually thereafter. The electrical wiring in the rented property must be checked at least every five years by a qualified and certified NICEIC electrician to verify its safety
05. Energy Performance Certificate
As a landlord, your property must have one of these certificates assessing its energy performance.
06. Tax on Rental Property Income
All rental income from property in the UK is taxable. If you are unsure of your liabilities, we recommend you contact a specialist tax accountant.
Other rules and regulations to consider include:
Right to Rent | Deposit Handling | Requirements | Fire Safety Measures |The Deregulation Act | The Tenant Fee Ban | Furniture and Furnishings Fire Regulations | Inventories | Deposit Protection
The information on this page is for guide purposes only. It does not constitute legal advice.