Guide For Landlords
It is a common misconception from everyone apart from Landlords that the whole process of letting property is simple and hassle free. It can be if you have taken the time to research what is required, We have taken the time to mention a few things you should be aware of before letting the property.Do I have to use a Letting Agent?
There is nothing to stop you letting a property yourself. There are however several very good reasons to use the services of a professional letting agent depending on your knowledge and circumstances.
As an established Agent, our marketing and advertising will reach a larger proportion of people giving a much better chance of finding the right tenant quickly. We may already have someone on our list that is suitable. Our referencing procedure is very thorough, and we use checks such as credit scoring and CCJ searches that the private landlord simply cannot access. A short term saving here could cost you dearly in the long term. Many tenants do not like to deal direct with private landlords and prefer the services of an independent Agent. This is especially true of many corporate and professional tenants. Do you have enough time to go back and forth to a property for viewings, and are you always available to deal with queries when the property is let? Carlin can take this burden away from you completely. Our experience and advice can help you to make a real success of letting your property. You can be sure that we will always provide accurate and up to date information about changes in the law and your obligations as a landlord.
Gas Safety Landlords have a duty to ensure that any gas appliances and flues they provide for tenants' use are maintained in a safe condition at all times and checked for safety each year by a CORGI registered engineer.
A copy of the report (CP12) should be provided to the tenant at the outset.
EPC’s From October 2008 It has been a legal requirement that any home in Northern Ireland for sale or to rent has an energy performance certificate carried out. This simply measures how energy efficient the property is.
Electrical Certificate – Though it is not compulsory, it is advisable to get a NICEIC approved electrician to carry out an inspection of the property . This would throw up any potential problems with the electrics in the home.
Furniture and Furnishings: It is a legal requirement that any furniture and fittings supplied by the Landlord must meet with the standards laid out in the Furniture and Furnishings(fire and safety) regulations act 1988.
Consent to let – It is normal practice that the landlord should contact their mortgage company to notify them that the property is to be let. This obviously need not apply if it is a buy to let mortgage.
Taxation – Under the taxation of income from land(non residents) act 1985, If you live abroad or are intending to live abroad, please note that in accordance with Inland Revenue Regulations regarding income received by owners of rented property, you are required to complete form NRLI. In the event that we do not receive confirmation of exception from Inland Revenue, we must deduct tax from all rentals collected on your property.
Insurance – The landlord should also advise his insurance company of the proposal to let the property as this could either invalidate the insurance altogether or lead to an increase in premium. You may have to arrange another brand new insurance policy suitable for landlords.
Due Diligence :-Make sure the property and its fixtures are working properly. eg do the showers work properly? are there any leaks? are there any signs of damp or serious wear and tear about the property? People who have lived in a home that they are subsequently renting out often think, ‘Well, it was good enough for me’. But that does not mean that it will satisfy your tenants.