Master the legal minefield – or risk thousands of pounds in fines
LANDLORDS need to keep up with constantly changing rules and regulations. For example, since April 1, newly let properties have needed a minimum energy performance rating of E and this will apply to all rental properties from April 2020. Landlords can be fined up to £4,000 if their property does not meet the required standards.
The Deregulation Act 2015 comes into force for all tenancies on October 1 (it has been in effect for new tenancies since October 2015). The act changes when and how eviction notices can be issued.
Meanwhile the Homes (Fitness for Human Habitation) Bill is working its way through Parliament.
Put forward by Labour MP Karen Buck, the bill will give tenants the right to sue landlords who let properties in a poor state of repair.
Another bill likely to become law within the next year is the Tenant
Fees Bill. This will stop letting agents charging tenants fees for references, credit checks and for setting up a tenancy. It will also cap deposits at six weeks’ rent.
All of this will mean a huge shortfall for agents who are likely to start charging landlords higher fees.
Landlords should consider joining a professional body such as the National Landlords Association to keep up-to-date on legislation.
The association’s director Chris Norris says: ‘A quick search on any landlord or property forums will bring up horror stories from accidental landlords who did not prepare properly before letting out their property.
‘Membership is useful particularly if you are not sure about your legal responsibilities.
‘It will provide all the support required to deal with every aspect of renting your property.’