Good communication skills and organisation are aspects that us as your agent should be able to deal with together with providing you guidance of the process to ensure that you have a successful let and a good yield of return on your investment property.
Here are some responsibilities and legal requirements that you must do as a landlord.
- All gas and electrical equipment should be safely installed and maintained.
- You have to provide a safe space free from hazards.
- Every landlord has to provide an Energy Performance Certificate on the property.
- Deposits have to be logged in a government approved tenant deposit scheme, it is the landlords obligation to check that the tenants have the right to rent in the UK.
- Fit and test smoke alarms and carbon monoxide alarms.
- All the fire safety regulations for property in purpose built blocks of flats or houses adapted into flats need to be followed.
- Every landlord in Wales has to be registered and licenced through Rent Smart Wales.
- If your property is leasehold your lease will specify whether or not it is necessary to obtain permission to sublet from the freehold company or managing agent.
- Do you have the right insurance in place in the event of a flood or fire, the right insurance could include rehousing tenants, it can also cover repairing your boiler or replace keys if they are stolen.
- It’s the landlord’s responsibility to protect their tenants and keep them safe, but accidents do happen. Public liability cover should protect you as a landlord, in the event of a claim you want to be covered for damages awarded by the claimant’s legal costs and if liable the claimants legal costs.
- Be business minded, listen to us as your agent were not here to spend your money, however we do on occasion recommend certain expenditure that it necessary to ensure the safety of the tenants and the repair of the property to provide the best rate of return and capital growth on your investment.
- Keep your tenant happy and save yourself time and money, a high turnover can be costly, keep them happy and respect their privacy, don’t forget we as your agent are always here to assist and guide you through the process.