Landlord Information

Landlord Information

Latest News: EPC's for rented accommodation 


From 1st October 2008, an Energy Performance Certificate (or EPC) will be required whenever a building in the social or private rented sectors is let to a new tenant. Landlords and property managers are responsible for ensuring that an EPC is made available on rental properties. To clarify EPC’s are NOT REQUIRED for properties that are already let, it purely relates to property let after October 1st. To find out more information please check out the DirectGov website.

HMO licensing 
On the 6 April 2006, HMO licensing was introduced under the provisions of the Housing Act 2004. All local authorities must licence properties that are at least three or more stories high with five or more persons who form two or more households. Landlords will be required to pay a licence fee. The fee will vary depending on the number of rooms and floors in the property. For more information please check out the Nottingham City Council website, where more information can be found and applications can be downloaded.

Tenancy Deposit Scheme 
Starting from April 6th, it will become a legal requirement that all tenancy deposits for properties rented on a newly created Assured Shorthold Tenancy Agreement must be administered within one of 3 schemes operated by government approved bodies. There are two types of scheme:
Custodial: Landlords will be required to lodge the whole deposit with the scheme for the duration of the tenancy and, at the end of the tenancy, both parties (landlord and tenant) apply for return of the deposit. The scheme administrator returns the funds within 10 days of agreement on how it should be split.
Insurance based: Landlords will hold the deposit and are required to pay a fee to protect any deposits.

For more detailed information on Tenancy Deposit Protection please see the DirectGov website

Health and Safety 
Landlords have a duty to ensure the safety of their properties for tenants. These duties are laid down by legislation and if not followed, landlords can be prosecuted. As a landlord you are generally responsible for the maintenance and major repairs to a property, including the structure and exterior of the property. Just as important are the areas surrounding basic housing standards, Fire Safety and Gas & Electrical safety. As a landlord you MUST be aware of the laws surrounding these areas. Here are some useful links to information;
HSE - for gas and electrical safety information
Fire service - for fire safety information
DirectGov website - for general health and safety information

Tenancy Agreements 
An Assured Shorthold Tenancy is the most frequently used tenancy agreement used by landlords when letting residential properties. The main requirement with this type of agreement is that the landlord and tenant agree on the minimum term and amount of rent, but will often include more information. If a tenancy agreement is not correctly constructed and a tenant issue occurs, the tenancy agreement may not have a legal standing. That's why its important to get this right. There are many sites on the internet that offer ready made tenancy agreements at a small cost. There are also sites that offer free tenancy agreements, but be sure they are right for you. Below are a couple of free sites:
Residentiallandlord.co.uk
TenantDocs.co.uk

Tenant References 
Regardless of whether you let one or a portfolio of properties, you must be assured that your prospective tenant(s) are of general good character and standing. Its your responsibility to identify undesirable, high risk or fraudulent prospective tenants. We have found TenentRef.com as an excellent value tool, combining a quick and easy way to collect references from employers and previous landlords online. View credit scores, CCJs or bankruptcies and any previous addresses that have not been disclosed to you.

Insurance 
There are many different types of Landlord, but what they all have in common is the need to purchase landlords insurance to protect their investment. As a landlord, you need to protect your investment and a normal home insurance policy is not valid when you are taking an income from the property. A residential landlord policy is what is required. We have teamed up with Endsleigh who provide cover for tens of thousands of properties, insuring all types of buy to let property.

Useful Links 
DirectGov - information you need, delivered by the UK government.
Greater Nottingham Landlords’ Electronic Newsletter providing up to date information specific to Nottinghamshire.
National Landlords Association - leading independent national organisation for private residential landlords.
Tenant Credit Checks from the National Landlords Association