Supporting landlords is our aim at Maison, and so we have created a checklist which we suggest following, when looking to let a property.
- Get permission from the mortgage lender – you may require a buy-to-let mortgage
- If you have a flat or a leaseholder do check whether you need permission from a head lessee or freeholder where required
- You will need Landlords building insurance
- Obtain an Energy Performance Certificate (EPC). Note: As of the 1st of April 2017, properties in the private rented sector will need a minimum rating of E.
- In Wales, you must register your property and if self-managing you’ll need to obtain a licence with Rent Smart Wales to rent out your property. www.rentsmart.gov.wales
- Ensure that the property is safe. In that:
- Gas appliances or gas heating will require a valid gas safety certificate carried out by a Gas Safe registered engineer;
- Any furniture and furnishings must comply with the Fire Safety Regulations;
- The electrical installation and appliances provided are safe when the tenancy begins and in proper working order throughout the tenancy;
- There are working smoke, heat (and carbon monoxide detectors where required);
- You have a duty to maintain the property and take reasonable steps to remove hazards.
- Reference each tenant
- Can they afford to pay the rent? Verify their proof of income/savings
- Self-employed? Verify their tax returns/last three years of accounts. If not available, request a reference from their accountant, or insist on six months rent in advance
- What about their credit worthiness? We recommend carrying out a light credit search to determine if they have any adverse credit history or CCJs
- Have they previously rented? It’s always worth contacting their previous landlord/agent to request a reference relating to their last tenancy. Did they pay their rent on time? Did the take care of the property? Did they give the required notice?
- Check the tenant’s Right to Rent in the UK / Immigration check. Do they have the relevant permission to live in the UK.
- Use an approved Assured Shorthold Tenancy Agreement and make sure all tenants sign it.
- If you’re taking a deposit, you must protect it in a deposit scheme and provide the tenant and anyone who paid toward the deposit with the required documentation within 30 days of receiving the deposit.
- Prepare a full Inventory & Schedule of Condition of the property with photos and agree it with the tenants
- Ensure all suppliers are informed of the tenancy and provide actual readings. Water suppliers will require the lead tenants date of birth. This can be supplied via www.landlordtap.com
P.S If you entrust your property for us to manage you will receive all the above checklist as standard .