LESSON 10 - keeping up with the regulations....

Unfortunately, under the present government the regulatory burden faced by landlord has increased considerably. Their appetite to regulate only seems matched by their inability to draft sensible coherent policy.

For a start before you even begin marketing your buy-t0-let for rent you will now need an EPC.

There are various of bits of regulations relating to a buy-to-let property that landlords should be aware of before letting.

These concern gas safety and electrical safety in their property. If a landlord decides to let their property furnished then there are regulation concerning the fire safety of the furnishings.

If you let your property with a TV. Find out who is responsible for paying the TV licence.

Should you decide to take a rental deposit remember you will now need to deposit the tenant’s deposit with one of the government approved tenancy deposit schemes.

If you are letting a property with more than 5 tenants you may well need a licence. In several months time a landlord that let’s their buy-to-let property to 3 or more tenants may also require planning permission.

All landlords should be aware of the fire safety regulations.

Finally, if landlords feel exacerbated by the extent of regulations. They should not let the government or the bureaucrats grind them down. There are many tenants out there that want good quality rental accommodation and professional and conscientious landlords.

So persevere!

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