Making the choice to buy a property is probably the biggest financial decision you’ll ever make. Definitely not one to be taken lightly.
You’ve probably been told that buying a property is the way forward in terms of financial stability and you may feel under pressure to buy your own home to make that first step onto the property ladder. But is it really the best option for everyone?
We believe there are pros and cons to buying a house and that renting a property can be a smarter option for some.
That’s why we’ve put together this guide, so you can decide, once and for all; is it better to rent or buy?
The Benefits of Renting
Despite what older generations might tell you, there are many advantages to renting in today’s world.
Consider these before you dismiss renting as an option:
It Pays to Rent
The costs of buying a house can seem never ending. Hidden extra charges like paying for surveys, stamp duty and removal costs are enough to induce a panic attack. For rental properties, the upfront costs are pretty standard; a secure deposit, a month’s rent and any Letting Agency fees are all you’ll need to pay.
Once you’re in, the costs don’t stop when you own your own home. Recurring expenses like homeowners insurance and property taxes are just the start. Maintenance and repairs can really add up too. A dodgy boiler giving up in the middle of the night mid-November or a leaky pipe creating a downpour in your bedroom is all down to you to fix. If you’ve ever had to track down a tradesperson out of hours you’ll understand the pain.
With renting, these responsibilities lie in the hands of your landlord. Landlords have a legal responsibility to provide a safe, liveable home that is well maintained. This means the landlord foots the bill for any essential repairs.
Skip the Hefty Deposit
For first-time buyers, it’s becoming increasingly difficult to buy.
Soaring house prices have resulted in eye watering deposits that seem unattainable for lots of us. Finding somewhere to buy within a reasonable commute to work is almost out of the question, with people being forced to live in less desirable areas.
Although rent prices increase in sought-after locations, it’s far less drastic.
Flexible Housing for Flexible Living
In today’s world of employment, people switch jobs every few years and no one is quite sure what’s around the corner. If work decides to transfer you to the opposite end of the country or, worst case scenario, you lose your job, you could be left with mounting mortgage repayments. Selling is stressful, costly and always takes longer than you expect.
The pros of renting a house mean it’s easier to move quickly. Usually, tenancy agreements have a break cause and you could move somewhere new within a month with minimal fuss.
Scared of Commitment?
If you’re a commitment-phobe in your relationships, you might not want to be tied down by a property. Renting a home is the more flexible option, allowing you to jump ship if things get boring.
Renting could also be the intelligent choice if you’re moving in with a new partner. There’s nothing like a few months of living together to test a relationship. Discovering your partner’s unsavoury living habits could swiftly make you think twice about your happily-ever-after home. Toenail clippings behind the sofa or late night video game sessions could be the final straw.
The advantages of renting a house mean you can test each other out short-term, without the added pressure of mortgage repayments.
Stay Safe and Secure
As we mentioned earlier, landlords have obligations to fulfil when it comes to property maintenance. These responsibilities stretch further than fixing the odd appliance.
Safety standards have to be adhered to, such as gas, electrical and fire safety checks. These regulations are all designed to protect tenants.
Avoid Rising Interest Rates
Rising interest rates mean your mortgage repayments go up. If the budget is already tight, this could have grave consequences on your finances and living situation.
Equally, property values are famously volatile, and if the value of your property goes down it will be more difficult to sell later down the line.
Renting sidesteps these stresses.
The Cons of Renting a House
As with everything, there are some negative aspects to renting. It really depends on the stage of your life you’re at and what will benefit you now as well as in the long run.
Think about these issues before making your final decision:
Sacrifice the Freedom to Decorate
One downside with renting is that you’re more restricted when it comes to redecorating and making structural changes to your home. Alterations need to be ok’d by the landlord before they go ahead, sometimes even down to hanging a picture frame!
This isn’t a problem if DIY isn’t really your thing, and most landlords are reasonable when it comes to home improvements. You are enhancing their property after all.
If you have a pet you’ll need to make this clear at the beginning as living with pets isn’t allowed in all rental properties. It is possible to rent with pets, just make it a priority for your search.
Be at the Mercy of Your Landlord
One thing that can put people off renting is the idea of being at the mercy of their landlord. If they choose, landlords can raise the rent and even decide to kick you out.
Although this is a possibility, it’s a rare one. Landlords have to compete with the rest of the property market and if they charge extortionate prices they risk not filling properties. You also have a tenancy contract which will stipulate how much notice a landlord can give you if they decide to make changes.
Save Money in the Long Run?
Many people claim there is a long-term, financial benefit to buying. Once you’ve finally paid off your mortgage, they say, you will be able to live rent free.
But, how long will that take?
Mortgages that take up to 35 years to repay are not uncommon. That’s a long time to commit to.
In the short-term at least, it’s cheaper to rent. Rent is usually less than the monthly mortgage repayments and the original deposit is just a fraction of the cost of buying a house.
The Final Say
To sum up, it really depends on your specific situation as to whether it’s best to buy or rent.
Some things to think about before you buy are;
- Before making an offer on a house – can you afford the mortgage?
- Can you afford the monthly repayments (taking possible rises into consideration)?
- Are you planning to stay in the property for a significant length of time?
If it’s flexibility, minimal upfront costs and the security of knowing your landlord is there to cover maintenance you’re after, renting is the best option.
On team rent? If you let out your home, make the process as smooth as possible by taking advantage of No Letting Go’s inventory services. This way, you won’t get caught out with unexpected charges as all the information about the property’s condition is independently evaluated and stored securely. Whether you’re a landlord or letting agent, find out how we can help with our professional, unbiased property reports.
Letting out your property can be a daunting thought for many. How can you ensure your next tenant will be a good tenant?
Answer: with a tenant reference check.
But, many landlords are still in the dark about what the vetting process involves. So, what is it and why is it worth doing? Time to take a closer look.
What is a Tenant Check?
A tenant reference check is simply a way of determining whether a prospective tenant is reliable, and able to keep up with monthly rent payments.
Of course, there’s no way of guaranteeing how someone will behave in the future. However, tenant checks can give you an insight into who you’re letting your property out to.
Tenant Referencing – What Do They Check?
So, what do landlords check for?
Remember – this is about safeguarding both you and your property. You’ll want to ensure a potential tenant is who they say they are, and that they can keep up with their contractual obligations.
For this reason, the vetting process looks at a number of different areas, which can include:
Proof of Identity
Photo ID is usually preferable, such as a driver’s license or passport.
If this isn’t available, other forms of identification are sometimes accepted, such as a signed bank card. It’s up to you what to accept during the rent check.
Financial Situation
Most landlords’ primary concern is whether a potential tenant will be able to keep up with their monthly rental obligations.
Checking their background allows you to see proof of this. Usually, this part of the referencing process includes:
- Proof of employment – such as a contract, a letter from an employer and/or recent payslips
- Bank statements (particularly if someone is self-employed)
- Proof of benefits claims (if applicable)
Credit Score
For a landlord, a tenant credit check is often seen as essential. However, when it comes to poor credit history, only CCJs and bankruptcy are public.
For this reason, their current financial situation is much more telling than a tenant credit check. Just because someone has fallen into rent arrears in the past doesn’t mean they will do now!
Unless, of course, their recent circumstances prove otherwise.
Right to Rent
It’s essential that your future tenant has a right to rent in the UK.
There are fines issued for private landlords who let to those not legally allowed to rent.
Guarantor Information
If you’re concerned that a certain tenant may not be able to afford their rent, you can ask for a guarantor. This is particularly prevalent in student properties, for example.
Sometimes, you can ask the guarantor to agree to a credit check. It’s also common to ask for recent payslips to ensure the rent can be paid should the tenant fail to do so.
If no guarantor is available, you can ask for a higher deposit upfront to cover any potential problems that may arise.
A Previous Landlord Reference
Ideally, you’re hoping for a reference that demonstrates that the tenant is reliable and trustworthy. This not only includes paying rent on time, but also respecting both the property and the landlord.
Questions to ask the landlord include:
- Did the tenant have any outstanding rent?
- Did the tenant cause any damage to the rental property?
- Did the tenant have any problems with the neighbours?
- Did the tenant receive their deposit back? If not, why?
- Would they rent to this tenant again?
If a prospective tenant is unwilling to provide the necessary contact details, this may send alarm bells ringing.
Details of Previous Address
You may also want to see proof of previous addresses, to ensure the tenant is who they say they are.
You may also like: Landlord Deposit Rules: What You Need to Know
How to Run a Background Check on a Tenant
Some landlords are happy to ask for the necessary information themselves.
This can be a time-consuming process, as you’ll need to gather a number of relevant details, such as guarantor information. You’ll also need to reach out to the employer, establish whether the potential tenant has any current debt and interview them.
Questions you may want to ask the tenant include:
- Will they be renting with pets?
- Will they have any family or friends staying with them regularly?
- What’s their working schedule like? Do they work night shifts?
- Have they read the tenancy agreement?
If you’re using a letting agent, they should arrange the vetting process on your behalf.
Should You Use a Tenant Referencing Service?
To ensure the background check is as thorough as possible, it’s recommended to use a professional tenant referencing company. For example, the National Landlords Association can run a check for you.
While these won’t be free, they will help minimise the risk of rent arrears or other potential issues that may arise.
For many, the extra cost is worth the peace of mind.
How Long Does Tenant Referencing Take?
The length of the process depends entirely on each individual situation.
Sometimes, if everything runs smoothly, your referencing company can complete the check in around 48 hours.
But, this isn’t always the case. The process can be delayed by a number of factors, such as:
- If a previous landlord drags their feet about giving a reference
- If a potential tenant takes a long time gathering necessary financial details
- If a potential tenant is unemployed, or a freelancer
- If a potential tenant cannot get a guarantor
A tenant reference check gives many landlords peace of mind. We can also help remove the stress of letting your property, with our professional inventory management services. We’ll ensure you’re compliant with all regulations, protecting both you and your property. Find out more about our services here.
HMO properties continue to be an appealing choice for landlords as they offer lots of advantages.
For one, they are often more profitable than other types of rentals.
However, these benefits come with added demands put in place to protect renters. How can you understand and deal with these requirements as a HMO landlord?
This guide covers everything you need to know.
What is a HMO Property?
Let’s start with the basics. HMO stands for houses in multiple occupation. Put simply, a rented house shared by multiple people or ‘households’ which can consist of a single person, families or cohabiting couples. In order to work out if your property is HMO you will need to know about the different types of HMO housing.
There are several types of HMO properties:
- A house or flat shared by three or more people from at least two households with shared communal areas.
- A home lived in by the landlord as the owner-occupier that has more than two tenants and in which some areas are shared.
- Since The Housing Act 2004, some student accommodation comes under HMO. Privately owned property shared by students, who are each treated as a separate household and have exclusive use of the accommodation is HMO.
- Here’s where it gets really complicated: A building or part of a building made solely of converted self-contained units which do not meet the conversion requirements of the Building Regulations 1991, and in which more than a third of the units are occupied by short tenancies. This is also referred to as Section 257 HMO.
To be considered HMO a property must…
- Be shared by more than two people.
- Be the main residence of the tenants.
- Have rent paid by the tenants.
The key thing to remember is that properties tend to be HMO if the people living there are not related and share toilet, bathroom or kitchen facilities. Separate tenancy agreements are also a good clue.
What are the Legal Responsibilities Involved in HMO Properties?
As the landlord of a multiple occupancy home, you are subject to additional legal responsibilities. It is important to understand these legal obligations as failure to do so can result in some hefty fines of up to £5000.
Here’s a list of the legal requirements as a HMO landlord:
- Display a notice in a prominent position within the property detailing the name, address, and contact number of yourself or the property manager.
- Ensure the property is well maintained and professional health and safety inspections in line with safety rating systems are performed. Remember to keep good records of all inspections and work done.
- Make sure the property is not overcrowded.
- Adhere to fire safety standards by providing working smoke alarms and heat detectors in kitchens as well as keeping fire escapes clear. A fire risk assessment needs to be carried out in accordance with The Regulatory Reform (Fire Safety) Order 2005. If the assessment is not performed to standard and copies are not kept, the landlord is liable to face criminal charges in the case of harm or death to tenants from fire.
- Maintain a clean water supply and proper drainage, which includes protecting pipes from frost.
- Issue inspections of electrical equipment at least once every five years and keep a record of the report.
- Supply a gas/electrical safety record within a week if requested by the council. If you rent bedsits you also need to comply with the Heat Network Regulations.
- Maintain cleanliness and safety in all communal areas
- Ensure the exterior and interior of the property is kept in good order.
- Provide the minimum number and location of shared bathrooms and kitchens. Advice on the local requirements can be found at your local council’s Environmental Health Department.
- Facilitate regular refuse disposal.
- Have an up-to-date legionella risk assessment.
- Ensure you have the correct landlord insurance. A HMO property requires a specific policy. You also need to be wary of tenants who wish to sublet as most insurers won’t cover this.
It’s not just landlords who have to follow the rules. Tenants are also under obligation to:
- Allow the landlord reasonable access and information so you can complete your duties.
- Act in a manner so as not to damage items it is the landlord’s duty to provide.
- Follow refuse and fire-safety guidelines implemented by the landlord.
What is a HMO Licence?
Another thing to consider as an HMO landlord, is whether your HMO property needs a license. Some multiple occupancy HMO’s legally require a license to make sure the property is being managed correctly.
You will need a license if:
- Your property is higher than three stories and has five or more occupants from two or more households. This is called mandatory licencing.
- The council believes a significant number of HMOs are not being managed properly. This is additional licencing and the conditions depend on the local council.
If you’re still not sure if your HMO property needs a licence, you can check with your local authorities. Some councils require all private landlords to apply for a license so it’s worth a check to avoid any unwanted fines.
How to Apply for a HMO Licence
A HMO license application form can be requested from your local council and the application can be made by a landlord or property manager. Unfortunately, there is normally a fee, the amount is set by individual local authorities and it is non-refundable regardless of the success of the application. Once issued, the licence will last up to five years.
You will need to inform several ‘relevant persons’ about your application and provide their details to the council.
Here are some of the things councils look at when making a decision whether to grant a HMO license:
- If the HMO property accommodates for the number of people living there and the shared facilities are suitable.
- If the landlord or managing agent are ‘fit and proper’ to take on the role. This can include looking at criminal convictions and previous unlawful discriminations as a landlord.
- Since 1st October 2018, councils also check that bedrooms meet the minimum size requirements.
HMO License Refusals
If the council decides not to grant you a HMO license, it may be possible to use a different license holder such as the property manager. You will usually be granted a month if you decide to try and persuade the council to change their decision. The council will always give you the reasons behind their ruling.
The council also has the power to revoke a license of they believe the conditions are being violated. You will have two weeks to respond and a month to appeal to a Residential Property Tribunal.
Breaking the terms of the licence also risks fines of up to £5000. If the conditions of your license have been broken and your tenant gets Housing Benefits, the council can apply for a Rent Repayment Order and reclaim rent paid for the time the HMO was unlicensed.
As a landlord, you are also able to revoke your license if you wish to change license holders or cease to run the property as a HMO.
Remember it is a criminal offence to disobey licencing laws and without a required license you are at risk of repaying up to twelve months rent and fines of up to £20,000! Without proper licensing, a Section 21 Notice will not be valid and you may be unable to evict tenants.
Hopefully, with the help of this guide, you now have all the information you need to be a responsible, capable HMO landlord and you won’t get caught out by any hidden legal requirements. That being said, managing a HMO property isn’t always a walk in the park. With so many tenants under one roof, vital tasks like managing inventories can prove an arduous task. Luckily, No Letting Go provides fuss-free inventory services via cutting-edge technology, along with a whole host of assistance plans to avoid disputes and make the process as simple as possible.
For any budding landlords out there, you’ll be excited to know that No Letting Go will be attending this year’s National Landlord Investment Show!
Taking place in Manchester on the 9th October 2018, the show will be running for its 5th consecutive year, with industry experts giving seminars on a wide range of topics.
Here you’ll find an overview of the event and what you can expect to gain from it:
What is the Event?
The event is effectively a hub of valuable information for any upcoming or established landlords.
Running from 9am to 3.30pm, there will be a range of seminars covering several different topics, as well as a morning networking event being held prior (between 9am to 10am).
Here’s what you can expect:
- Hear from leading industry experts across 15+ seminars held throughout the day
- An opportunity to meet the team to help guide you through the process
- The ability to meet other prospective, alongside already established (and successful), landlords
- Gain valuable guidance and insight into the current industry trends
- A tour of the stadium (if you stay after 3.30pm!)
How the Event Can Help You
There will be many complimentary seminars taking place, being led by experts in the industry. This is the perfect place to keep up to date on industry trends in a face-to-face setting with those at the forefront of their field.
The structure of the event has been proven to help landlords maximise their property investments after networking with both professionals and peers. The morning preceding the event is a fantastic opportunity to share experiences and discuss local issues.
You’ll be privy to a lot of in-depth information which can only serve to improve your acumen as you move further forward in your career!
5 Top Tips for Landlord Investments
Keeping in the spirit of the event, here are 5 top tips for landlord investments which you may find useful:
Research the Market
Keep yourself informed on both the risks and benefits involved with each investment you go into. Make sure it’s an investment you’re absolutely sure of.
Use Some Outside Guidance
It never hurts to employ some outside guidance – an agent who’s an expert in property management will be able to give you advice on best practice regarding rent, maintenance costs and other areas of property management.
Find Good Tenants
It may seem obvious but finding the right tenants can make your life a whole lot easier. Finding tenants who are responsible and unlikely to cause problems means less money and time being spent on maintenance or chasing unpaid rent.
The next step is securing long-term tenancies!
Know Your Rights
Knowing your rights as a landlord is extremely important. Being well informed on both your rights AND those of your tenants puts you in a better position to avoid any potential legal issues (which can set you back significantly).
Make Sure You’re Covered
Make sure you’re thoroughly insured to avoid any surprise issues. Landlord insurance will cover you for a wide range of unprecedented problems, so don’t make any assumptions – make sure you’re covered!
There are a lot of challenges you’ll face as a prospective landlord – events like this can be extremely helpful. Our services can also help you face these challenges – you can find out more about these services here.
Historically, landlords and animals don’t have the best relationship.
The fear of damage, infestations and related costs sometimes seem too much hassle than they’re worth.
But, people love their pets!
So, landlords who ban them run the risk of putting off many potential tenants. It can feel like a catch-22!
To try and help, here’s a landlord’s guide to renting with pets.
Pros of Being a Pet Friendly Landlord
When you think of animals and rental properties, you might only conjure up negative images.
But, there are some pros!
Unconvinced?
Here’s a closer look:
Expands Your Options
By allowing pets in your property, you open the door to a far greater number of potential tenants.
To some landlords, this makes clear business sense!
Longevity
Tenants with pets know it’s not easy to find a landlord accommodating to their situation. This means they’re likely to stick around and settle in your house.
Encouraging a long term tenancy has many perks. From no rental void periods to the lack of hassle of constantly changing contracts, there are advantages to allowing tenants to lay their roots in your property!
But, this does come with its own compromises. Pets are one of these!
Higher Rent
It’s fair to up the rent of any property that accommodates pets. We recommend adding a small amount that will help to account for wear and tear later on.
Don’t forget, you can’t claim back any money from the security deposit for fair wear and tear.
Increasing the rent on a property from £600 to £650 per month, for example, is a reasonable decision. It’s not a drastic inflation that will put tenants off. But, it can help to cover any additional work needed when the property is vacated.
Higher Deposit
A pet brings a greater risk of damage to your property, especially, if it’s furnished.
We recommend adding a fair amount onto the deposit to cover any additional costs that could be caused by the animal. Your top priority should always be to protect your investment! Peace of mind should never be underrated.
Some landlords choose to do things separately, and ask for a pet deposit. This is in addition to the standard security deposit. It’s up to you!
Helps Build a Positive Relationship
The best tenancies are happy tenancies! Establishing a good relationship between landlord and tenant is key to this.
As renting a pet friendly house is so rare, you seem like a reasonable and positive landlord for allowing it. While there are no promises, this may give your tenant more respect for you.
Plus, since most tenants will be aware that landlords like you are rare, they’re more likely to respect your home in hopes of staying there.
Attracts Responsible Tenants
Tenants with pets are generally more settled in their lives. This is due to the responsibility that comes with owning an animal.
The more stable and responsible the tenant is, the more likely they are to respect your property. This is a general rule, of course, as we can’t speak for everyone.
Reduced Void Periods
A pet friendly property is likely to let out quicker than one which isn’t.
With the abundance of tenants with pets out there and lack of rental properties who allow them, demand will be high.
This means facing the prospect of a void period is far less of a concern!
Cons of Being a Pet Friendly Landlord
Of course, with the positives come some inevitable consequences.
Some of these you might already be aware of, but, let’s dig a little deeper.
Risk of Damage
Pets are renowned for causing damage to properties.
From chewing through furniture to lack of house training, there can be a number of potential causes of damage by pets.
Of course, you can claim this back through the deposit. However, for some landlords, it’s not worth the risk.
Pet Smells
Pets are notoriously smelly – even when they’re cared for properly. These smells can be difficult to shift.
The tenants often don’t notice it themselves, which makes it more frustrating.
This can also cause financial complications! Other than cleaning costs, pets can give the property a dirty feel which can lead to difficulty bringing in new tenants.
Animal Hair
Animal hair is difficult to remove from upholstery and carpets.
If you’re in the unfortunate situation of letting to a tenant who isn’t too fond of cleaning, this can be an arduous or costly process for you.
Extra Cleaning
A property which houses a pet requires an extremely thorough clean once it’s been vacated. This isn’t only costly, but time consuming too.
Allergies
There’s the potential that future tenants may have a pet allergy!
Alternatively, if you, as the landlord, have an allergy, this can cause complications when you inspect your property.
Aggressive Behaviour
If you let to an unsavoury tenant with an aggressive pet, you’re likely to face some serious difficulties.
This could be the welfare of your neighbours, the difficulty of communicating with your tenant, threatening behaviour or even being unable to inspect the property.
Of course, these are worst-case scenarios. But, it’s important to consider every possibility.
Slippery Slope
Some landlords feel that if they allow one pet into their property, tenants will take advantage of this.
Is there a danger of your investment becoming overrun with pets?
Problems With Neighbours
Will the neighbours be as accepting of the new houseguests as you?
Pets cause noise, wonder into nearby gardens or cause general annoyance.
If your tenants aren’t receptive to complaints, you’ll receive the brunt of the anger. Are you prepared for this?
Pest Infestations
How can you be sure that the pets you accept into your property won’t have fleas?
Infestations can cause lasting problems that can be costly to repair.
You may also like: How Much Rent Should I Charge My Tenants?
What Animals Will You Accept?
Now you know the pros and cons, have you decided to go ahead with allowing pets into your property?
If the answer is yes, you need to work out what you will accept.
Obviously, there’s a big difference between a dog and a fish tank. Also, just how many pets will you accept – only one, or multiple?
It’s important to be clear on this very early on.
Let’s examine what you might be up against…
Renting With a Dog
Renting a house with a dog is a big deal. For most landlords, these are the animals they’re most wary of.
Here are just some of the problems they can cause:
- Noise, such as barking, causing complaints from the neighbours
- Damage, such as chewing up furniture (particularly puppies!)
- Bringing in fleas
You’ll need to be very clear on the rules you lay down before the tenant and their four-legged friend move in. For example, explain clearly that the animal isn’t to be left alone in the house for prolonged periods of time.
If your property is a flat, you might want to think carefully about with tenants keeping a dog is appropriate. They need lots of time outside, so access to a garden is often necessary.
Also, more often than not, the older the dog – the better! They’re more likely to be well trained, quieter and well behaved.
Assistance Dogs
Whether you want to accept pets into your home or not, assistance dogs must be allowed. This is due to anti-discriminatory laws against disabled tenants.
In these circumstances, the choice of renting with pets is out of your hands.
Birds and Rental Properties
Birds might seem harmless on the surface. However, if kept in cages inside, this could lead to mess.
Also, think of noise. One bird might be manageable, but dozens of them could cause your neighbours serious disturbances.
Renting with Cats
Cats are one of Britain’s most popular pets!
Luckily for landlords, cats are relatively trouble-free. Many of them spend most of their time outside!
However, this doesn’t mean there’s nothing to think about. For example, will you allow a litter tray in your property? If not, be clear on this before tenants move in.
Also, there are problems concerning cat fur. Some breeds of cat shed more than others! If you say you allow cats in your rental property, will this be breed-dependent?
Small Popular Pets
Particularly if you rent to a family with children, small furry animals might be a request.
These animals could include:
- Rabbits
- Gerbils
- Guinea pigs
- Hamsters
- Pet rats
You might consider laying down rules that they must remain in cages outside, or live in rooms without carpet. Of course, the choice is entirely up to you!
Can You Let to Pet Owners?
Before you get carried away, though, you need to work out if it’s possible. Can you allow pets into your rental property?
Leasehold Properties
If your property is leasehold, you might find it tricky to rent with pets. As many leases ban pets, you’ll need to change yours.
But, this can be easier said than done.
For example, if you own a flat in a large block, other leaseholders will need to be consulted. The more property owners, the trickier this will be.
Tips for Landlords Letting to Pet Owners
Allowing pets in rentals is a big consideration.
So, if you’re going ahead with it, here are some tips to help you along the way:
Meet the Pet
It might sound strange, but meeting the pet before agreeing to let to its tenants is essential.
You’ll be able to get a feel for its temperament, noise levels, how it reacts to new people and whether it’s house trained.
Of course, you can only get so much from one meeting. But, if the pet is badly behaved, that’s all you need!
If you feel it’s necessary, ask to meet the pet more than once.
Think of this as a bit like a ‘tenancy screening’, but for an animal!
Get a Previous Landlord Reference
Asking for a pet reference may sound a bit extreme. But, when it comes to looking after your property, nothing is too far!
If the potential tenant has let with their pet before, ask for contact details for their previous landlord. Find out information such as:
- How well behaved the pet was
- Whether any damage to their property was caused
- Was the tenant responsible?
- Did the neighbours complain?
- Were there any problems relating to the pet at all throughout the tenancy?
Set Up Open Communication from the Start
All tenancies require good communication from both parties.
However, when it comes to pets, this is even more important. It’s vital to speak with the potential tenant about their pet at the very beginning.
After that, clearly explain what it is you expect and lay down the rules. Make sure these are included in the tenancy agreement.
Consider Property and Pet
Your property and the pet itself… Are they compatible?
Cats and dogs might not enjoy living in a top floor flat, for example, as outdoor access is key.
Accept pets within reason. Think about the space and neighbours – not every pet will be able to live in your property!
If you’ve decided to rent with pets, your property’s inventory will be more important than ever. You’ll want to ensure there’s no room for miscommunication. No Letting Go can help you look after your investment. Find out more about our services here.
It’s time to talk deposits…
These are a source of protection for landlords, ensuring they have a safety net should anything happen to their property.
But, this doesn’t mean they’re without their own complications!
Deposit disputes are common. If a landlord withholds money for any reason, this is an obvious conflict of interest between both parties.
Let’s ensure that doesn’t happen. Here are some important landlord deposit rules to remember.
The Government Approved Tenancy Deposit Scheme
All landlords must put deposits in a government-backed Tenancy Deposit Scheme. SafeDeposits is Scotland’s leading tenancy deposit scheme.
These ensure a deposit is protected, and that tenants receive the full amount back if they meet the terms of their tenancy agreement and maintain the property as agreed.
TDS disputes are very uncommon, as the deposit is looked after by an unbiased, regulated third party.
Some landlords can be confused by these schemes, as in England and Wales there are two options. So, let’s straighten it out:
Insured Scheme
The Insured Scheme is where the landlord or letting agent keeps hold of the deposit throughout the tenancy, while paying a fee to the TDS.
This fee operates on a ‘pay as you go’ basis, meaning you don’t pay after the tenancy has finished!
Custodial Scheme
With the Custodial Scheme, the landlord or letting agent doesn’t have to pay a fee, as the TDS looks after the deposit.
The TDS will then release the deposit at the end of the tenancy.
Both tenancy deposit protection schemes have their benefits, so it’s important to work out what works for you.
When are Tenancy Deposit Deductions Allowed?
There’s no hard and fast rule when tenants ask, ‘what can my landlord deduct from my deposit?’ as this varies depending on the individual circumstance.
However, there are some common reasons why deposits aren’t returned.
Reasons for these deductions must be stipulated in the tenancy agreement, for example cleaning deposits. If you require the property to be returned in a certain way, for example the carpets cleaned, ensure this is clearly communicated.
After the tenant leaves, landlords are allowed to make deposit deductions for the following reasons:
Unpaid Rent
There are numerous reasons why tenants may not be able to afford rent.
However, while some circumstances are out of their control, missed or withheld rent is a justifiable reason not to pay back some, or all, of their deposit.
Many landlords prefer to deduct money from the deposit rather than serve their tenant with a Section 21 eviction notice.
If your tenant owes more than the deposit amount, you can take legal action, and a court can order them to pay the full amount back. This will incur it’s own legal fees, so you’ll need to work out if it makes sense financially.
Serious Damage to the Property
Whether it’s to the property itself, such as smashed windows, or broken furniture, damaging the property contradicts the terms of the tenancy agreement.
Therefore, landlords are allowed to deduct the appropriate amount from the deposit.
Recklessness is something you can take seriously!
However, it’s important to remember that this mustn’t count as fair wear and tear.
For more information about Landlord Insurance.
Lost or Broken Items
One main reason for landlords not returning deposits is missing items. The cost of these can be deducted at the end of the tenancy!
The inventory will have set out what items were included with the property, and their condition. So, in the interest of reassurance for the landlord, a detailed inventory is essential.
Cleaning
In the world of tenancy deposit disputes, cleaning can be a huge source of disagreement between landlords and tenants, largely because we all have different definitions of what is ‘clean’.
However, it’s a common cause of deposit deductions. For example, if it was negotiated in the tenancy agreement that the tenant would pay for a professional carpet clean after keeping pets in the property, they must uphold this.
If they fail to do so, landlords can pay for the cost of the clean from the deposit. For a landlord, cleaning is the tenant’s responsibility!
General Maintenance
General maintenance can be difficult because it’s a vague term.
But, misuse can result in a deposit deduction. For example, if any appliances have been deliberately neglected, the landlord will have to pay to repair these before the start of the next tenancy.
Damage Caused By Pets
Landlords and pets have a strained relationship. However, with half the UK’s population owning a pet, and nearly 1 in 5 of us renting our home, landlords have had to make compromises.
Before the tenancy starts, those with pets often agree to pay a higher deposit or the cost of a professional clean. But, this doesn’t make any damage caused by pets acceptable!
Many tenants find it difficult to understand why their landlord has kept their deposit. But, when you consider the cost of repairing damage, it doesn’t seem so unreasonable.
Poor Redecoration
If a tenant takes it upon themselves to redecorate the property without asking you first, this may be in breach of their tenancy agreement. As a result, you might be able to deduct money from their deposit to get the room back to its prior condition.
Alternatively, if you allow a tenant to redecorate, but they do a poor job, you can claim for redecoration costs also.
When Can Tenants Dispute Deposit Deductions?
But, it’s important landlords understand what they can’t claim for. When can landlords keep deposits, and when can’t they?
Tenants have many responsibilities, such as keeping up with rent payments and taking care of the property. But, for landlords, unfair deposit deductions are simply unacceptable.
Tenants are always asking ‘can my landlord withhold my deposit?’ The answer is yes, but, within reason.
Let’s put the issue to rest. Landlords cannot refuse to return the deposit for:
General Wear and Tear
As mentioned previously, reasonable wear and tear isn’t a reason to withhold tenants’ money.
The definition of normal wear and tear is a difficult one, so it’s essential to consider the tenancy itself, such as the amount of tenants and the time of occupation.
For landlords, what is considered normal wear and tear can be a grey area. So, you’ll need to justify any deposit claims you make. Your property will have been lived in for a certain amount of time, so, while there are no rules for what is ‘reasonably acceptable’, you can’t expect it to be completely fresh at the end of the tenancy.
Redecorating the Property
You can’t charge outgoing tenants for the price of redecorating the property simply because you feel it needs a facelift.
If you’re only trying to give the place a freshen up in the hopes of charging higher rent, this must come out of your own pocket.
Preparation of the Dispute
If a deposit dispute has arisen, you can’t claim for the cost of any evidence gathered or legal paperwork drawn up.
Even if the dispute goes in the favour of the landlord, the tenant’s deposit doesn’t pay for it.
Cost of Re-Letting the Property
Costs involved with re-letting the property cannot be claimed for.
The end of an old tenancy and the start of a new one are completely separate!
Anything that Contradicts the Contract
If your property has failed to live up to the standards tenants expect and deserve, you can’t claim the cost of fixing this before the next tenancy.
For example, deposit deductions aren’t allowed for repairing appliances that have failed to work throughout the tenancy.
Just as the tenant has to keep to their contract, so do landlords!
Repair to the Structure of the Property
Structural damage, such as roof repairs, cannot be deducted from the deposit.
The tenant has a right to live in a structurally safe and well-built property, therefore any repairs are the responsibility of the landlord!
Claiming for More than the Deposit
You will have set the deposit amount at the start of the tenancy. At the end of this tenancy, it cannot be changed.
If you have grounds to ask for more money, you’ll need to go through the appropriate legal proceedings.
Giving Notice About a Tenancy Deposit Dispute
Feel you have grounds for a claim? You’ll need to provide notice of this.
So, when should a landlord return a deposit? A tenant cannot expect to receive their deposit back before the end of the tenancy. However, under normal circumstances, the landlord pays it back within 10 days.
When you need to make a claim, you must write to your tenant and explain why you’re not returning the full amount. Resolved deposit disputes don’t occur without your reasons in writing.
Previously, they’ll have needed evidence that you placed their deposit in a Tenancy Deposit Scheme within 30 days of the start of the tenancy. If you’ve failed to provide this, you may find it difficult to make a claim.
How to Make a Deposit Claim
If you’re making a claim, ensure you write to the tenant and explain exactly why. They’ll need to understand your reasons behind it. Tenancy disputes need to be clearly communicated between both parties.
If they agree with your reasoning, you won’t have to go through a dispute service. However, it’s likely that they’ll disagree.
A dispute service will be provided free of charge by the Tenancy Deposit Scheme you’ve used. It can often be difficult to find a dispute resolution, however, using a professional service ensures it will be fair.
Required Evidence for Deposit Claims
Feel you have the right to make a claim?
Evidence is key. Here’s a closer look at exactly what you’ll need:
Photographs
If you have evidence of any serious damage, ensure you have photographs to prove this.
Photos are also useful to back-up any points made in the inventory, showing the before and after state of the property and any particular items.
Inventory and Schedule of Condition
However, photographs aren’t the only piece of evidence you’ll need.
A detailed, comprehensive inventory will be invaluable when make a deposit claim against a tenant. Within this report should be photos, used to support the written details within.
Naturally, this will have needed to be compiled at the start of the tenancy. The more evidence, the better!
While many landlords choose to carry these out themselves, a professional inventory will provide more clarity than a DIY one. This is thanks to the independent, unbiased third party who compiles the report!
Tenancy Agreement
What was laid out in the tenancy agreement? How was it stated the property must be maintained?
One important landlord deposit rule to follow is to use the tenancy agreement as a piece of armour. It will protect you from any untrue claims made by the tenant, as they will have signed it.
Email Correspondence
Have you kept hold of any important emails between you and your tenant?
If you’ve visited the property during the tenancy and found it’s not being maintained as you’ve agreed, ensure you’ve followed this up in writing.
This will be valuable evidence when it comes to making your claim!
You’ll need to show you’ve communicated any issues you’ve had with your tenants, as this will prove whether or not they took action to fix them.
Original Invoices
Need to repair something, such as an appliance?
Ensure you’ve kept a receipt or invoice of its original cost, as you can use this when working out how much to deduct from the deposit.
Landlords withholding deposits isn’t a decision made lightly. But, if you feel you have grounds to make a claim, ensure you can support it with evidence.
How to Win a Dispute Between Landlord and Tenant
How can you ensure you’ll be granted your deposit deduction?
Don’t Be Unreasonable
A property will never be returned to you in a completely shiny and new condition. This needs to be allowed for.
It’s likely that, if you make an unreasonable claim, you’ll end up wasting the time and effort on the claim for no reward.
Don’t negate your claim by making unfair or ridiculous statements!
Keep Communication Open
Communication with your tenant is key.
When you inspect your rental property, keep an eye out for any damage and follow up with your tenant. This might be able to be fixed before the end of the tenancy.
However, if you do feel you need to make a claim, communication will be essential here also. Sitting down with your tenant and clearly explaining where the claim has come from will make it less likely that they’ll dispute it.
Here’s where your evidence will be vital. If you present all the facts in front of them, it will be difficult for them to dispute it.
Have a Detailed Inventory
When it comes to landlord disputes, a detailed inventory will be the most useful piece of evidence. Better still, it may even be able to prevent them completely!
Just as the tenancy protection scheme is in place to protect both parties, so are inventories. When landlords lose disputes, this often is down to a poorly put together, insufficient inventory.
The inventory should be used as comparative evidence, showing every detail of the condition of the property at the start of the tenancy. This is where detail will become so important, as it will provide clarity.
Claims from tenants such as ‘my landlord won’t return my deposit’ or accusations of unfair treatment will be stamped out with the help of an inventory.
Want to protect your investment? No Letting Go provide professionally compiled, unbiased inventories that will help to provide clarity throughout the tenancy. Interested in finding out how we can help you? Browse our full range of services here.
The recent data from the Home Office highlights the significant consequences of non-compliance with the Right to Rent scheme. Since its implementation in 2016, over 400 fines have been issued, totalling £265,000. This underscores the increasing importance of conducting thorough Right to Rent checks for landlords and letting agents to avoid penalties. Ensuring compliance not only protects landlords from financial repercussions but also aligns with legal responsibilities, making it crucial to stay informed and vigilant in adhering to these regulations.
What is the Right to Rent Scheme?
The Right to Rent scheme, introduced in February 2016, mandates that landlords and letting agents verify that all occupants of their property have the legal right to reside and rent in the UK. This requirement extends to private landlords and those letting to lodgers.
Failing to comply can result in significant penalties, with fines reaching up to £3,000 per tenant if they are found to be living illegally in the UK. Ensuring compliance is essential to avoid these costly fines and legal repercussions.
The Importance of Right to Rent Checks
The Home Office has issued 405 fines for non-compliance with the Right to Rent scheme since its introduction in 2016. This highlights the critical need for landlords and letting agents to conduct thorough Right to Rent checks. While the average fine per tenant is £654, significantly lower than the maximum of £3,000, total penalties amount to £265,000. The busiest period for fines was from April to September 2017, with 151 fines issued. Ensuring compliance with Right to Rent checks is essential to avoid these costly penalties.
A Controversial Scheme
The Right to Rent scheme has faced significant backlash. Chris Norris from the National Landlord Association explains: “It’s important to remember that landlords are neither immigration experts nor border agents… The Right to Rent scheme has placed an additional cost on an already pressurised sector”.
Reports show that 11,300 Right to Rent checks are conducted daily in England, but the benefits are questionable. The scheme contributes to homelessness among refugees, who often face weeks of waiting to receive the necessary Right to Rent documents to secure a tenancy. This delay leaves many without stable housing, further complicating their situation. The costs to landlords for handling these checks amount to £4.7 million annually.
We Have the Answer
Simplify Right to Rent Checks with No Letting Go
At No Letting Go we offer a comprehensive service to handle Right to Rent documents as part of our Check-In procedures. Our team can verify that tenants’ documentation complies with the scheme, matching the documents to the tenant’s appearance.
Lisa Williamson, Business Development Director for No Letting Go adds, “we have worked successfully with both letting agents and landlords across the UK since February 2016 to ensure that Right to Rent documentation complies with this legislation. Our bespoke reports clearly confirm that the tenant’s original identification documents appear to be genuine and are a true likeness. With the tenant’s permission we also photograph them holding their photographic ID as further evidence that they are a true representation. This service has proved invaluable to agents and landlords who have not had the opportunity to personally meet the tenant/s prior to their occupation of the property.”
Explore No Letting Go’s full range of services to simplify your letting process.
Do you have a property that you are hoping to let out? If so, you might be looking to take on a letting agent.
Whether you’re new to the world of buy-to-letting or not, you may be asking yourself ‘Which letting agent should I choose?’
To try and help, we’ve put together our advice on choosing a letting agent.
Why go with a letting agent?
While some landlords choose to manage their property alone, letting agencies are still hugely popular. Whether to choose an agency or not is down to the individual situation.
What is the role of a letting agent?
The role of a letting agent varies, depending on what you’re looking for. Their role can range from simply providing a tenancy agreement to full-on maintenance of the property.
Most letting agents will offer to collect the rent and deposit on behalf of the landlord, while many letting agents also offer extra services.
These extra services can vary from tenancy vetting’s to full-on maintenance and ensuring any damage costs are reimbursed.
What are the advantages of choosing a letting agent?
While a letting agent will entail fees, there are numerous advantages alongside this.
1. Firstly, letting agents will be regulated. Ensure that the one you choose is a member of a trade association, such as NAEA (National Association of Estate Agents) or ARLA (Association of Residential Letting Agents).
2. Secondly, a letting agent will have a full understanding of the buy-to-let market. If you’re a first-time landlord, it’s likely that you will benefit from this knowledge! This expertise should result in the process running more smoothly.
3. Finally, choosing a letting agent will mean that you won’t have to navigate the world of buy-to-let alone. An agency will have a dedicated team in place to manage any property related issues.
You may also like: Landlord Responsibilities – A Guide to Health & Safety Obligations
How to choose a letting agent
Once you’ve decided to go with a letting agent, it’s important to detail what service you’re looking for. There are many other factors that should go into your final decision.
You’re entrusting your property to a third party, so it’s not an easy choice to make!
Marketing and advertising
It’s important to remember that using a letting agent will cost you money.
Therefore, when considering the question ‘Which letting agent should I choose?’ you should look closely into their marketing strategy.
If their advertising is effective and they are proactive in their marketing, you will know they’re more likely to find you a tenant.
Enquire into which newspapers they advertise in.
Also, ask them to show you which potential tenants they have on their books. They should prove that they will make it their mission to see your property let out!
Listen to recommendations
An important factor in choosing a letting agent is their location. Our advice is to choose an agency in your property’s area, so you can take advantage of their local knowledge!
When choosing a letting agent, it’s important to ask around for recommendations. Listen to those who live in your area, for example other landlords, who can be found through a local landlord association.
Word-of-mouth can be a reliable source of information!
Understand their fees
You need to be clear on how an agent’s fees are organised. You don’t want to be caught out with any unexpected costs!
An agent’s fees tend to be organised either as a fixed fee, or as a proportion of rent. Fees are completely dependent on each agency itself.
One way to ensure that a letting agent is reputable is by checking that they have insurance. An agency should be able to prove they have CMP (Client Money Protection) in place.
Also, ensure that you have landlord insurance, to protect you in the unlikely event of the misappropriation of money.
In understanding an agency’s fees, you need to understand what is meant by ‘guaranteed rent’. While this sounds appealing at first, it has its drawbacks.
If an agency offers guaranteed rent, it’s likely you will receive a lower price. However, you will also avoid periods of no rent at all.
Make sure you fully consider your decision!
Check the contract
While this sounds obvious, it’s essential.
Checking the contract can help avoid some costly surprises.
You need to be clear on everything from cancellation periods, to whether there are any vacant property charges.
Aside from the fee for when new tenants move in, do they charge commission also?
Make sure you understand all the clauses within your contract.
Remember maintenance
Your letting agency should detail whether they will run safety checks, for example annual gas readings, or if this is down to you.
Consider routine repairs. Will there be any extra costs for the general maintenance of your property?
Being a landlord can be tough! As your property is your livelihood, we believe in protecting it. With No Letting Go inventory services, we can help you safeguard your property. Our full check-in and check-out service can ensure a hassle-free and impartial inventory check. Find out more about how we can help you here.
Whether you’re a tenant or a landlord, sadly you may have experienced some form of harassment in the tenancy process before. Whether you’re a tenant being threatened with eviction by your landlord, or a landlord with a tenant from hell; this is never a great situation to be a part of. We’ve put together some helpful advice on the types of harassment you might face in the tenancy process and how to deal with them effectively.
What Counts as Harassment?
The Equality Act 2010 defines harassment as a form of discrimination “within the work place and wider society.” Both tenants and landlords are protected by this law and any action that is not in line with the Equality Act is considered unlawful behaviour – you could even be taken to court over it. The purpose of the Equality Act 2010 is to ensure fairness, improve public services and to help with performance in businesses.
My Landlord is Harassing Me
Let’s start with the most talked about form of harassment in the tenancy process – Landlord harassment of tenants.
The most common examples of this include:
- Cutting off the tenant’s utilities, like electricity or water
- Landlord Trespassing – entering the property without notice or sending in other people on their behalf
- Becoming verbally or physically abusive towards a tenant
- Discriminating against a tenant because of their disability, race, sex or gender
- Raising rent without notice
- Refusing to repair vital parts of the property
Bear in mind, harassment doesn’t have to be carried out by your landlord directly. A third party, such as a letting agency or building firm, may harass tenants on behalf of the landlord. In other words, anything that results in a tenant feeling intimidated and interferes with the quality of their living conditions could qualify as a criminal offence. Let’s have a look at the best ways to deal with this and stop harassment.
Read and Read again
Rule number one: always read over the tenancy agreement carefully before signing it, in order to get a full understanding of the landlord’s responsibilities and their expectations from you once you’ve moved in. If you disagree with anything, that’s a sure sign that things could go wrong pretty quickly. Either negotiate or leave it and have a search for other properties and landlords that will be more suited to you.
Document Everything
If you’ve moved into a property and feel like you’ve been a victim of this kind of harassment, keep regular documentation of any incident that occurs between yourself and the landlord. Take note of the date and time and ask your landlord to do the same. Make sure to keep hold of anything that could be used as supporting evidence too – like emails, voicemails, letters or photos. It may also be worthwhile talking to other tenants under the same landlord to gain a better understanding of the situation you’re facing, so that you can deal with it appropriately.
Knowledge is Power, and Communication is Key
Communication skills are a must. You need to make sure you are communicating your needs clearly and avoiding any confusion that could lead to problems later on in your tenancy.
It’s important to know your rights as a tenant, but it’s also really important to become familiar with the actions your landlord is legally allowed to carry out, that are not classed as harassment, to avoid any unnecessary disagreements. These include:
- Entering your property in an emergency – landlords are free to enter your property without notice if there is an emergency situation.
- Raising the rent with plenty of notice – if your landlord wants to raise the price of your rent, they can do so, providing they supply you with enough notice. This is usually around 30 days.
- Filing for eviction after a missed rent payment – if you fail to pay your rent and your landlord has already sent you notice to make the payment, they can legally file for eviction.
My Tenant is Harassing Me
The harassment of a landlord by a tenant is a much less covered topic, but nevertheless, equally as difficult. If a tenant is going out of their way to interfere with a landlord’s life and purposefully cause disruption, it should be classed as harassment and treated in the same way.
It could be that a tenant is unable to pay rent, or that they are continuously disrupting other neighbours in the building. Maybe you’ve given notice of a rent increase and they’ve now become verbally abusive. In any case, there are ways to work things out and avoid additional problems.
Carry Out Tenant Reference Checks
Before moving anyone in, it’s sensible to conduct background research and a tenant reference check on the potential tenant in order to ensure you are choosing the right person. Use the viewings as a way of “interviewing” them first to find out a bit of information about why they are looking to move. You could even get in contact with previous landlords to find out about their history of renting and their expectations as a tenant.
Document Everything
If you are experiencing problems with a tenant who has already moved in, remember to log every problem that occurs so they can be referred back to and collect as much evidence as possible. You should carry regular property inspections to get an accurate idea of how your property is being treated during the tenancy. Notice of eviction should only ever be given as a last resort, if all else has failed, but this evidence will help support your case if you do find yourself having to take this route.
Cool, Calm and Collected
Remaining calm and rational throughout a difficult tenancy is tough, but absolutely necessary. Make sure to show your face enough to let the tenant know you care. Keep in regular communication so they know they can trust you. Creating a mutual, respectful relationship between landlords and tenants can help to stop any future problems in their tracks and maintain the peace for the remainder of the tenancy.
Tenants Harassing Other Tenants
Problems between tenants can arise for an abundance of reasons. Regardless of any background checks carried out beforehand, sometimes people just don’t get along. Most of the time they’re harmless and can be sorted out quickly, with little interference from the landlord.
However, some tenant on tenant harassment disputes require a little more attention. Whether it be a tenant who can’t stand their neighbor’s choice of early morning dance music, or a tenant who is a secret parking space thief; it can be hard to know how to deal with these awkward situations without getting too involved.
Be the Mediator – not the Drama Queen
As a landlord, you need to act as the mediator in these types of circumstances without getting caught up in the drama yourself. Outlining your expectations in the tenancy agreement is a good start. You should make your tenants aware of what they need to do if they wish to make a complaint about a neighbouring tenant. Do they need to call you? Do they need to put a formal complaint in writing? Whatever method you choose, make sure to be quick on the mark in responding and chase up so that they know it is important to you.
Always Remain Neutral
You certainly do not want a tenant feeling as though you have taken sides – this will reflect badly on you and aggravate the situation even more. Being impartial to the argument allows you to put forward an ‘outsider’s’ opinion that could sway the disagreement towards reconciliation.
Intervening Should Be the Last Resort
You should only even intervene if you absolutely NEED to. If the argument is getting out of hand or becoming a safety concern and you’ve done all you can on your own, you will need to think about taking legal action or asking for legal advice.
If you’re a landlord or a tenant wanting to avoid getting caught up in a chaotic tenancy process, we’re here to help. Check out No Letting Go’s inventory services for more information.
No Letting Go are proud to support the Association of Independent Inventory Clerks (AIIC) in their bid for mandatory inventories for all private residential tenancies. An independent inventory ensures there’s no room for ambiguity during the check-in and check-out procedures – this dramatically reduces the number of deposit disputes.
Evidence of Fulfilled Landlord Obligations
We would like to go a step further. There are some health and safety requirements no landlord can ignore! We feel inventories should be combined with compliance reporting. A detailed inventory at the start and end of a tenancy can act as a crucial document which acts as evidence of a landlord fulfilling their health and safety obligations.
The report could also work as evidence of a landlord complying with:
- Smoke and carbon monoxide alarm regulations 2015
- Fire and furnishing safety regulations 1988
A Duty of Care
Nick Lyons, CEO of No Letting Go spoke to Landlord Today regarding the topic:
“Independent inventory providers have a duty of care to protect the interests of both landlords and tenants alike. The government has introduced legislation to protect tenants but with no real effective means to monitor it.
“The introduction of a compulsory combined inventory and compliance report for all let properties compiled by trained, independent professionals will help ensure that landlords meet their legal responsibilities and assist the government and trading standards to police the landlord’s requirement to protect tenants.”
Why Is the Petition Important?
The petition is being put forward by the AIIC. This is to encourage the government to introduce mandatory inventory reporting as part of its ongoing plans to increase regulation in the Private Rented Sector.
The AIIC sees mandatory independent inventory reporting as the next step from the 2007 introduction of compulsory tenancy deposit protection. This is because there’s not been additional legislation concerning the documents or evidence needed to resolve deposit disputes.
Danny Zane, joint chair of the AIIC explains:
“With this in mind, regulating independent inventories really is a no-brainer for the government. An independent and professionally compiled inventory offers protection to both tenants and landlord and can prove invaluable in the event of a tenancy deposit dispute.”
Irrelevant of whether mandatory independent inventory reporting becomes a legal requirement, there is still an abundance of benefits for landlords, letting agents and tenants. An independent body like No Letting Go can take the hassle and strain out of the process while dramatically cutting down on disputes. Find out more about how we can help your inventory process here.