Lifestyles: Forward Thinking Through Property Rentals
We might as well become a little bit serious here as once you start a family, you have to start juggling not only the time aspect but the finances as well as making some pretty drastic decisions.You may decide at some point that you could rent out your home to create some extra cash or that it might be worthwhile renting until you know where you want to eventually live. Whatever the situation, the landlord/lady needs to know what (s)he is responsible for as it may cost you in more ways than one.
Also to note about HMOs
Bear in mind that different stipulations apply to varying properties and below the regulations are referring to private residential homes: mixed use premises like houses in multiple occupation (HMOs) where unrelated tenants living independently from each other, share common areas of the same household/location.
Gas Safety Appliances to be safe and checked
The regulation was set up in 1998 regarding Gas Safety whereby all landlords/ladies are obliged by law to maintain that gas, pipe work and flues are in a safe condition and checked regularly by a Gas Registered Engineer who leaves a warranted certificate as proof of his inspection: both the tenant and the landlord/lady should keep a copy.
Fire Safety on a Rented Property
This area is under the Housing Act 2004 and Regulatory Reform (Fire Safety) Order 2005.
The property by law is deemed safe and this must be guaranteed by the landlord/lady. The residences must comply by providing certain items for the safety and wellbeing of their tenants:
Fire Extinguishers that are in working order
Although not required by law it is still a sensible step to include in perfect working order a fire extinguisher in the kitchen area or fire blankets in single occupation accommodation. The fire extinguishers will need to be checked once a year.
Smoke Alarms that are fitted with batteries
Again there is no actual legislation that enforces this requirement but as a responsible individual, you should concern yourself with this. If this does not take place, then as a landlord/lady you have not fulfilled providing for a safe property which is your duty under common law.
Furniture must also be fire resistant
Should you decide to go ahead, be aware that the furniture you leave in a rented space needs to comply with the Furniture and Furnishings Regulations 1993.
Repairs & Maintenance throughout the building
The landlord/lady is accountable for the structure and exterior of the accommodation including heating, water, baths etc for a fixed tenancy for less than 7 years. On the other hand the tenant is responsible for damages that (s)he has caused.
Tenancy Deposit Protection
There are three government approved schemes which can be verified and details are found through Tenancy Deposit Protection.
Don’t be daunted by all these regulations as you can build up a great relationship with your tenants and earn a bit too! If you need good, low cost advice on letting your property there are some reputable online agencies such as Rentify that can help for a snip of the price of most regular agencies.
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