Two landlords own similar flats on the same street. One visits every six weeks, sends reminder texts about the state of the kitchen and photographs each room on the way round. The other has not set foot inside since the tenant moved in three years ago. Both think they are being reasonable. Both are storing up problems.
A landlord in Leeds recently lost a £900 deposit claim for a ruined carpet. The carpet really was ruined. The problem was that the check-in report had no date, no photographs and no tenant signature, so the adjudicator had no way of knowing what the carpet looked like on day one. The deposit went back to the tenant in full.
The tenant hasn’t paid rent in six weeks. Their phone goes to voicemail, and a neighbour says nobody has come or gone for a month. You let yourself in for an inspection and the flat looks half-emptied: nothing in the fridge, a few bits of furniture, some boxes in the bedroom. It looks, for all the world, like they have gone.
Guarantors are another way landlords can protect themselves and increase their financial security. In many cases, they work perfectly fine. But they aren’t always the best or most suitable option.
Like every month, Rentila offers you an overview of the main real estate news of interest to landlords and tenants. This month, we focus on: The southern towns and cities where house prices are falling even more than in London; Scotland lags UK housing boom despite cheaper homes; Nearly half of UK homes fail to sell amid high pricing; Homeowners spend 21% of income on mortgage payments; Landlords warn of rent hikes as reforms loom; Locations where it typically takes longer to sell a home than last year revealed… Happy reading and… renting!
Damp and mould problems in a rental property aren’t just a cosmetic issue. Government guidance treats these problems as a serious health risk, especially for children, older people, and vulnerable tenants.
Selective licensing(per its name) only applies to a selection of properties. It’s entirely different from mandatory HMO licensing additional licensing, but it isn’t optional if it applies to your rental property.
As private landlords will likely know by now, the Renter’s Rights Act increases your responsibilities and duties. Rules, practices, and statutory timeframes will soon mean that landlords have to work harder to stay compliant.
Renting a property is a legal process – and avoiding it has consequences, both financially and personally. New landlords may be tempted to avoid declaration for many reasons – from misconceptions about what’s involved to a fear of tax consequences or a heavy administration burden.
