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Landlords: 5 Top Tips to Ensure Your Property Is Compliant

Malvinder Hayer • Jul 23, 2020
Are you searching for ways to build wealth and create passive income? If so, owning rental property is one of the smartest moves you can make.

After all, rental properties continue to be one of the strongest investment opportunities, regardless of what's happening in the economy. This type of real estate enables you to generate continuous income year after year. Thus all you need to worry about is maintenance on the properties and making sure they remain compliant with the laws in your area.

1. Smoke and Carbon Monoxide Alarm Regulations

The rental property must be fitted with a smoke alarm on every floor with at least one room that's used as accommodation. In addition, the property must also have a carbon monoxide alarm in all rooms that feature a solid fuel source. 

Keep in mind that it's the landlord's responsibility to ensure that every alarm on the property is fully functional at the time a tenant moves in.

2. Electrical Equipment and Gas Safety

The landlord must also ensure that all electrics in the rental unit are safe and working properly before tenants occupy the space. Any properties purchased after December 2016 will be subject to the most recent regulations. 

The unit must also receive a Gas Safety Certificate from a Gas Safe Registered Engineer as proof of a successful gas safety inspection. A copy of this certificate should be provided to the current tenant of the property.

3. Tenant Deposit Protection

A tenant's deposit must be protected by one of two schemes. These include custodial or insurance.

Under the custodial option, the tenant pays the deposit amount to the landlord, and the landlord pays the deposit to the scheme, where it is held for the duration of the tenancy.

Under the insurance option, the tenant pays the landlord and the landlord pays a premium on the scheme in order to insure the deposit.

A third option is called mydeposits. This provides simple deposit protection for letting tenants, landlords, and agents at www.mydeposits.co.uk

4. Fire Risk Assessment

All landlords are required to perform periodical fire risk assessments. These assessments must take place in flats, HMOs, maisonettes and sheltered accommodation. Keep in mind that fire assessments must carefully analyse the property to determine the likelihood that a fire could start and cause harm to the tenants

5. Energy Performance Certificate (EPCs)

Landlords must provide an EPC to the tenant prior to the letting agreement being signed. This certificate is valid for ten years but should be updated if the property has undergone any significant changes since the last evaluation. 

A Guide to Rental Property Compliance for Landlords

Owning rental properties can be complicated. Fortunately, this guide to rental property compliance for landlords will help provide the best possible experience for both landlord and tenant. 

Please feel free to contact us to learn more about how we can help with your property.

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