Avoid the pit­falls with five top tips for first-time land­lords

Yorkshire Post - Property - - PROPERTY -

A new guide from email4prop­erty of­fers new land­lords some sound ad­vice on the de­ci­sions they need to get right: 1. Choos­ing a let­ting agent – en­sure your let­tings agent is a mem­ber of one of the pro­fes­sional as­so­ci­a­tions. A good let­tings agent can not only help you in find­ing your ten­ant but they can take over re­spon­si­bil­ity of col­lect­ing rents and or­gan­is­ing re­pairs 2. De­cid­ing what rent to charge – be re­al­is­tic. Take the agent’s ad­vice on what is an achiev­able rent and look at lo­cal news­pa­pers and prop­erty web­sites to see what else is avail­able and at what price. The cur­rent over­sup­ply of rental prop­erty may mean ac­cept­ing a re­duced rent but a com­pet­i­tive price will re­duce the voids. 3. Get your EPC – an En­ergy Per­for­mance Cer­tifi­cate (EPC) must be avail­able to all new ten­ants, out­lin­ing the en­ergy ef­fi­ciency rat­ing and the en­vi­ron­men­tal im­pact of your prop­erty.

Your let­tings agent will be able to ar­range this for you, or you can opt to com­mis­sion this your­self. If you de­cide to go it alone, make sure you use an ac­cred­ited Do­mes­tic En­ergy As­ses­sor (DEA) – de­tails can be found at www.epcreg­is­ter.com. Once com­pleted, the EPC will have a shelf life of 10 years.

4. Get the Ten­ancy Agree­ment in place – be­fore find­ing your ten­ant you need to think about any re­stric­tions you wish to put in place.

How­ever, try not to be too tough – if you ex­clude smok­ers, pets, stu­dents, small chil­dren and short-term lets, you will nar­row the mar­ket for your prop­erty con­sid­er­ably. 5. On­go­ing re­spon­si­bil­i­ties – once you have a ten­ant in place, as a land­lord you have a num­ber of on­go­ing re­spon­si­bil­i­ties.

You must en­sure any nec­es­sary re­pairs are car­ried out ef­fi­ciently and the prop­erty must be well main­tained. You must en­sure the safety of all gas and elec­tri­cal ap­pli­ances and all fur­nish­ings ad­here to the nec­es­sary fire safety reg­u­la­tions.

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