21 Good Letting Tips

This section provides Hints and Tips to help you understand and manage the risks faced by Landlords

The biggest way to lose money is being too trusting and failing to serve Notices at the right time. Invalid application for possession due to non compliance with process if in doubt call the members Help line.
Problem Tenants Non paying Tenants, rent arrears and damage to their property .More often than not Landlords DO NOT recover their losses unless they have a guarantor (this is because tenants tend to be less solvent than home owners)
Failing to vet your Letting Agent prior to engaging them read more
If you fail to comply with the Deposit Legislation, the consequences are excessive and punitive potentially three times the Deposit can be awarded to the Tenant has compensation. The Landlord must pay within 14 days.
Failing to Maintain and Repair Many agreements try to make the tenant responsible for maintenance and repair' such clauses are unfair and unenforceable. and should never be relied on. See Fines & Penalties Failing to Repair
Poor Vetting Process If you are renting to Tenants on benefits you must check their eligibility to receive otherwise Landlords may be paid significantly less than you think.
Inventory If a Landlord fails to prepare a quality Inventory and there is a dispute over damage you have less than 9% chance of the dispute being resolved in your favour. The burden of proof is on the Landlord.
Malicious Claims & Compensation culture understand and manage risk so you avoid being sued by the tenant. Every day we deal with Landlords who fall victim to the Classic Deception and removing a problematic tenant is a complicated affair - be diligent. You are unlikely to recover your legal costs.
Liability for Council Tax and Bills Once the Tenant has moved in inform suppliers and the council this is to minimise such parties pursuing you for bills the tenant fails to pay. The good tip is to ensure you serve Section 21 Notice
Renting Rooms - Fines up to £20,000 If you are Letting Rooms there are rules Landlords and Agents must abide by such as HMO Licensing.
Fines and imprisonment An Annual Gas Safety check is required to be conducted by an approved Engineer. £100 Fine
An Energy Performance Certificate must be provided to the tenant prior to the tenancy signing
Works Enforcement Notices Ensure that the property is fit for purpose before