When setting the initial rent it can be useful to look at the Local Housing Allowance (LHA) rates for similar properties. Go to the Valuation Officer (VOA) site (used to the Rent Officer). Put in the post code, and submit. Then click on ‘List of Rents’ to view a graph...
Allowable Fees Since June 1st 2020 all AST’s are severely limited on the fees that can be charged to tenants. Note that this applies to landlords and agents. Summary Limit tenancy deposits to five weeks’ rent (6 weeks’ for rents > £50k) Limit holding deposits...
Inventories If you propose to charge the tenant anything at the end of the tenancy (within the terms of the Tenants Fee Act it must be stated in the AST that a charge might be made, and you must be able to prove the claim. Whether it goes to court, or adjudication,...
If you take a deposit for all AST’s you must:- Protect the deposit with an approved scheme, and Give tenant and all interested parties the prescribed information about their deposit and the deposit scheme. Within 30 calendar days of physically receiving it (from April...
The three required permissions are:- If a leasehold property, read the lease - it might not allow permission to let.May have to obtain the permission of freeholder. Inform any joint owners – be careful if the property has been inherited by more than one person, and...
If a landlord doesn’t want to self-manage they can use an agent. If using an agent, it is critical to ensure:- It is clear who does what. There is nothing worse than the tenant not being able to get something done because each side is assuming the other side is doing...
The Housing Health and Safety Rating System (HHSRS) assesses 29 housing hazards and the effect that each may have on the health and safety of current or future occupants of the property. HHSRS is a risk assessment tool used to assess potential risks to the health and...
It has been a legal requirement for all rentals from Oct 2008 to have a valid EPC. They currently lasts 10 years but would only need to be renewed (on expiry) upon change of tenure – i.e. sale of property or new tenant; there is no need to get a new one whilst a...
Definition of an HMO Since April 2006, a House in Multiple Occupation (HMO) is: An entire house or flat which is let to 3 or more occupiers who form 2 or more households and who share basic amenities – e.g. a kitchen, bathroom or toilet. Note:- rents must be payable...
Licensing is a very emotive subject. Introduced in the 2004 Housing Act it was intended to control properties that were deemed to be a greater risk than the norm, and allow greater control of them.
YOU MAY ALSO LIKE
Before you serve a Section 21 notice, you must ensure you serve:- - Energy Performance Certificate – check...
Jeni Browne, Business Development Director, Mortgages for Business, has contributed the following to the debate:-...
iHowz CPD Courses & Workshops 2024 Breathing Space – how will it affect landlords and tenants? Course for: all...