RLA News Service

High rents and more favourable buy-to-let mortgage deals are tempting buyers into becoming landlords. If you’re pondering the move, you need to think what kind of landlord you want to be.
Of course, an agent will do all the work for you, but will expect a big percentage in return. So learn how to fix a tap and cut out the middleman.

First, get the nitty-gritty sorted. You should draw up a legally binding tenancy agreement, known, inspiringly, as an Assured Shorthold Tenancy (AST), which both parties need to sign.

It’s important to draw up an inventory. And, it’s worth taking photos of what’s yours as a back-up in case of any later disputes over the deposit. Speaking of which, if a landlord has let a property on an AST, a tenant’s deposit must be kept safe in a protected scheme.

Then, there are the boring safety issues. Landlords must ensure gas and electrical appliances supplied are all in order. They must provide a gas safety certificate to prove that all gas appliances have been checked within the past year.

Get an Energy Performance Certificate (EPC). Landlords must provide an EPC by law, which outlines details of the property’s energy consumption and ‘how to make your home more energy-efficient and reduce carbon dioxide emissions’.

It’s recommended that landlords invest in property owners’ insurance rather than simple home insurance. This additional cover can protect against everything from fires and floods to lightning strikes, and accidental damage by tenants.

Buy-to-let properties can be vulnerable to property fraud and so it’s worth checking that the Land Registry not only has your property in your name, but also an alternative contact address for you. This acts as an up-to-date record of ownership.

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