The private rental market has exploded. According to The Guardian 46% of 25-34 year olds are in rented accommodation and UK tenants paid over £50bn in rents last year. With UK tenants paying a record £51.6bn in rents last year, we’ve seen rental income for landlords more than double in the decade since 2007.
So, times are good for landlords at the moment. It’s becoming increasingly difficult for people to get on to the property ladder. With lenders tightening up on mortgages the trend for renting, rather than buying, looks set to continue. Landlords can sit back and let the good times roll, right?
Well, whilst we doubt the rental market is going anywhere anytime soon, care still needs to be taken. As ever with these things as something becomes bigger and more popular, often much more scrutiny is applied.
That’s why it’s more important than ever for landlords to protect themselves against every eventuality.
We’ve come up with the following list of surveys that can help landlords avoid any nasty surprises:
Asbestos Surveys
Back in 1999, asbestos became a banned substance in the UK. That means all pre-2000 properties could contain asbestos. As a landlord, it’s up to you to know whether your property has asbestos containing materials (ACMs) present. If so, you’ll need to create a robust plan of action to safely deal with them.
As recent as 2016 there were still around 3000 asbestos related deaths in the UK. A staggering number considering how long the substance has been banned. ‘The Control Of Asbestos Regulations 2012’ have been set out by the HSE to ensure property owners remain fully compliant with the law and also ensure the safety of their tenants.
There are several types of asbestos surveys with some of the common ones being asbestos management surveys, asbestos refurbishment surveys and asbestos demolition surveys. Thankfully, there are plenty of very good environmental consultancies out there, such as EDP, who can talk landlords through the most appropriate course of action. Consultancies like this specialise in helping property owners to identify ACMs and develop their asbestos management plan accordingly.
Fire Risk Assessments
Since the horrific events of Grenfell Tower last year, fire safety has quite rightly been brought back to the forefront of everyone’s minds; both landlords and tenants. There’s some excellent advice on fire risk assessments at the gov.uk website which you can read more about here.
From a landlords perspective, there are several things you must consider to ensure the safety of your tenants and to protect your property in the event of a fire. There are several acts that must be adhered to if you want to remain fire safety compliant, such as ‘The Housing Act 2004 Including The Housing Health And Safety Rating System’, ‘The Regulatory Reform (Fire Safety) Order 2005’ and ‘The Smoke and Carbon Monoxide Alarm (England) Regulations 2015’, amongst others.
There’s a lot there to keep up-to-date with and it’s further complicated by the fact certain rules are different in the different countries within the UK. Fortunately, firms like The Parr Group exist to take the pressure off landlords. By offering a range of services including fire extinguishers, fire alarm systems, maintenance services and fire safety training, full compliance with the law and safety regulations can be guaranteed.
Property Transcription
Property transcription services are available across the country to landlords, estate agents, letting agents and property managers.
Some of the common types of property transcription services include homebuyer reports, building survey reports, inventory reports, check ins/check outs, schedules of dilapidation, schedule of works and expert reports. Phew; that’s a lot to get through. No wonder a growing number of landlords and agents are outsourcing these arduous tasks!
Apple Transcription, for example, provide a whole host of reports to help with job tracking and progress updates, as well as offering an online system to securely store and manage all of your transcripts. This sort of service can be particularly useful if you manage a number of different properties.
Energy Performance Certificates
Did you know since 1st April 2018 privately rented properties must meet new energy efficiency standards? If these standards aren’t met, landlords can’t let them out to new tenants or re-let them to existing ones. Imagine the amount of income you could lose if you’re not up to date with new ‘Minimum Energy Efficiency Standards’ (MEES).
The magic letter for compliance is ‘E’. ‘E-grade’ is what your property must achieve to be compliant. Don’t be complacent if you think your property already has the ‘E-grade’ either; as of April 1st the ‘E-grade’ standards changed so it’s better to double check your property remains let-able otherwise you could face fines for lack of compliance.
If you fall short of the standards and can’t get a relevant EPC, what can you do? A few things to try straight away include taking a look at attic insulation and cavity walls insulation, implementation of low-energy LED lighting and installation of a SMART meter.
Some of the larger energy suppliers are also offering help and advice to landlords. If you’re unsure of anything, why not try getting in touch with your energy provider for further guidance too?
Electrical Installations and Appliances
Ensuring that electrical installations and appliances are safe and in good working order are key considerations for all landlords.
With electrical installations, there’s a recommendation from the Electrical Safety Council to have a qualified electrician carry out inspections and tests every five years. Furthermore if the property is a house of multiple occupation, this becomes a statutory requirement.
With regards to appliances, the government has confirmed that PAT testing of appliances is solely at the discretion of the landlord. That said, the Electrical Safety Council do advise that for larger appliances such as fridges, washing machines and electric fires, PAT testing should be carried out every 4 years. For smaller appliances like lamps, kettles and toasters, they recommend PAT testing should be done every 2 years.
In Summary
So, there you have it. It’s officially a great time to be a landlord in terms of the record numbers of properties being rented, however it’s also a potentially dangerous time for landlords that don’t take health and safety seriously.
By keeping up-to-date with current legislation and getting the right help from expert consultants, you’ll help to keep your properties in perfect order whilst remaining fully compliant. These two things combined will make it easier for you to rent your properties out, stay profitable and, most importantly, keep your tenants safe and happy. The private rental market has exploded. According to The Guardian 46% of 25-34 year olds are in rented accommodation and UK tenants paid over £50bn in rents last year. With UK tenants paying a record £51.6bn in rents last year, we’ve seen rental income for landlords more than double in the decade since 2007.
So, times are good for landlords at the moment. It’s becoming increasingly difficult for people to get on to the property ladder. With lenders tightening up on mortgages the trend for renting, rather than buying, looks set to continue. Landlords can sit back and let the good times roll, right?
Well, whilst we doubt the rental market is going anywhere anytime soon, care still needs to be taken. As ever with these things as something becomes bigger and more popular, often much more scrutiny is applied.
That’s why it’s more important than ever for landlords to protect themselves against every eventuality.
We’ve come up with the following list of surveys that can help landlords avoid any nasty surprises:
Asbestos Surveys
Back in 1999, asbestos became a banned substance in the UK. That means all pre-2000 properties could contain asbestos. As a landlord, it’s up to you to know whether your property has asbestos containing materials (ACMs) present. If so, you’ll need to create a robust plan of action to safely deal with them.
As recent as 2016 there were still around 3000 asbestos related deaths in the UK. A staggering number considering how long the substance has been banned. ‘The Control Of Asbestos Regulations 2012’ have been set out by the HSE to ensure property owners remain fully compliant with the law and also ensure the safety of their tenants.
There are several types of asbestos surveys with some of the common ones being asbestos management surveys, asbestos refurbishment surveys and asbestos demolition surveys. Thankfully, there are plenty of very good environmental consultancies out there, such as EDP, who can talk landlords through the most appropriate course of action. Consultancies like this specialise in helping property owners to identify ACMs and develop their asbestos management plan accordingly.
Fire Risk Assessments
Since the horrific events of Grenfell Tower last year, fire safety has quite rightly been brought back to the forefront of everyone’s minds; both landlords and tenants. There’s some excellent advice on fire risk assessments at the gov.uk website which you can read more about here.
From a landlords perspective, there are several things you must consider to ensure the safety of your tenants and to protect your property in the event of a fire. There are several acts that must be adhered to if you want to remain fire safety compliant, such as ‘The Housing Act 2004 Including The Housing Health And Safety Rating System’, ‘The Regulatory Reform (Fire Safety) Order 2005’ and ‘The Smoke and Carbon Monoxide Alarm (England) Regulations 2015’, amongst others.
There’s a lot there to keep up-to-date with and it’s further complicated by the fact certain rules are different in the different countries within the UK. Fortunately, firms like The Parr Group exist to take the pressure off landlords. By offering a range of services including fire extinguishers, fire alarm systems, maintenance services and fire safety training, full compliance with the law and safety regulations can be guaranteed.
Property Transcription
Property transcription services are available across the country to landlords, estate agents, letting agents and property managers.
Some of the common types of property transcription services include homebuyer reports, building survey reports, inventory reports, check ins/check outs, schedules of dilapidation, schedule of works and expert reports. Phew; that’s a lot to get through. No wonder a growing number of landlords and agents are outsourcing these arduous tasks!
Apple Transcription, for example, provide a whole host of reports to help with job tracking and progress updates, as well as offering an online system to securely store and manage all of your transcripts. This sort of service can be particularly useful if you manage a number of different properties.
Energy Performance Certificates
Did you know since 1st April 2018 privately rented properties must meet new energy efficiency standards? If these standards aren’t met, landlords can’t let them out to new tenants or re-let them to existing ones. Imagine the amount of income you could lose if you’re not up to date with new ‘Minimum Energy Efficiency Standards’ (MEES).
The magic letter for compliance is ‘E’. ‘E-grade’ is what your property must achieve to be compliant. Don’t be complacent if you think your property already has the ‘E-grade’ either; as of April 1st the ‘E-grade’ standards changed so it’s better to double check your property remains let-able otherwise you could face fines for lack of compliance.
If you fall short of the standards and can’t get a relevant EPC, what can you do? A few things to try straight away include taking a look at attic insulation and cavity walls insulation, implementation of low-energy LED lighting and installation of a SMART meter.
Some of the larger energy suppliers are also offering help and advice to landlords. If you’re unsure of anything, why not try getting in touch with your energy provider for further guidance too?
Electrical Installations and Appliances
Ensuring that electrical installations and appliances are safe and in good working order are key considerations for all landlords.
With electrical installations, there’s a recommendation from the Electrical Safety Council to have a qualified electrician carry out inspections and tests every five years. Furthermore if the property is a house of multiple occupation, this becomes a statutory requirement.
With regards to appliances, the government has confirmed that PAT testing of appliances is solely at the discretion of the landlord. That said, the Electrical Safety Council do advise that for larger appliances such as fridges, washing machines and electric fires, PAT testing should be carried out every 4 years. For smaller appliances like lamps, kettles and toasters, they recommend PAT testing should be done every 2 years.
In Summary
So, there you have it. It’s officially a great time to be a landlord in terms of the record numbers of properties being rented, however it’s also a potentially dangerous time for landlords that don’t take health and safety seriously.
By keeping up-to-date with current legislation and getting the right help from expert consultants, you’ll help to keep your properties in perfect order whilst remaining fully compliant. These two things combined will make it easier for you to rent your properties out, stay profitable and, most importantly, keep your tenants safe and happy. The private rental market has exploded. According to The Guardian 46% of 25-34 year olds are in rented accommodation and UK tenants paid over £50bn in rents last year. With UK tenants paying a record £51.6bn in rents last year, we’ve seen rental income for landlords more than double in the decade since 2007.
So, times are good for landlords at the moment. It’s becoming increasingly difficult for people to get on to the property ladder. With lenders tightening up on mortgages the trend for renting, rather than buying, looks set to continue. Landlords can sit back and let the good times roll, right?
Well, whilst we doubt the rental market is going anywhere anytime soon, care still needs to be taken. As ever with these things as something becomes bigger and more popular, often much more scrutiny is applied.
That’s why it’s more important than ever for landlords to protect themselves against every eventuality.
We’ve come up with the following list of surveys that can help landlords avoid any nasty surprises:
Asbestos Surveys
Back in 1999, asbestos became a banned substance in the UK. That means all pre-2000 properties could contain asbestos. As a landlord, it’s up to you to know whether your property has asbestos containing materials (ACMs) present. If so, you’ll need to create a robust plan of action to safely deal with them.
As recent as 2016 there were still around 3000 asbestos related deaths in the UK. A staggering number considering how long the substance has been banned. ‘The Control Of Asbestos Regulations 2012’ have been set out by the HSE to ensure property owners remain fully compliant with the law and also ensure the safety of their tenants.
There are several types of asbestos surveys with some of the common ones being asbestos management surveys, asbestos refurbishment surveys and asbestos demolition surveys. Thankfully, there are plenty of very good environmental consultancies out there, such as EDP, who can talk landlords through the most appropriate course of action. Consultancies like this specialise in helping property owners to identify ACMs and develop their asbestos management plan accordingly.
Fire Risk Assessments
Since the horrific events of Grenfell Tower last year, fire safety has quite rightly been brought back to the forefront of everyone’s minds; both landlords and tenants. There’s some excellent advice on fire risk assessments at the gov.uk website which you can read more about here.
From a landlords perspective, there are several things you must consider to ensure the safety of your tenants and to protect your property in the event of a fire. There are several acts that must be adhered to if you want to remain fire safety compliant, such as ‘The Housing Act 2004 Including The Housing Health And Safety Rating System’, ‘The Regulatory Reform (Fire Safety) Order 2005’ and ‘The Smoke and Carbon Monoxide Alarm (England) Regulations 2015’, amongst others.
There’s a lot there to keep up-to-date with and it’s further complicated by the fact certain rules are different in the different countries within the UK. Fortunately, firms like The Parr Group exist to take the pressure off landlords. By offering a range of services including fire extinguishers, fire alarm systems, maintenance services and fire safety training, full compliance with the law and safety regulations can be guaranteed.
Property Transcription
Property transcription services are available across the country to landlords, estate agents, letting agents and property managers.
Some of the common types of property transcription services include homebuyer reports, building survey reports, inventory reports, check ins/check outs, schedules of dilapidation, schedule of works and expert reports. Phew; that’s a lot to get through. No wonder a growing number of landlords and agents are outsourcing these arduous tasks!
Apple Transcription, for example, provide a whole host of reports to help with job tracking and progress updates, as well as offering an online system to securely store and manage all of your transcripts. This sort of service can be particularly useful if you manage a number of different properties.
Energy Performance Certificates
Did you know since 1st April 2018 privately rented properties must meet new energy efficiency standards? If these standards aren’t met, landlords can’t let them out to new tenants or re-let them to existing ones. Imagine the amount of income you could lose if you’re not up to date with new ‘Minimum Energy Efficiency Standards’ (MEES).
The magic letter for compliance is ‘E’. ‘E-grade’ is what your property must achieve to be compliant. Don’t be complacent if you think your property already has the ‘E-grade’ either; as of April 1st the ‘E-grade’ standards changed so it’s better to double check your property remains let-able otherwise you could face fines for lack of compliance.
If you fall short of the standards and can’t get a relevant EPC, what can you do? A few things to try straight away include taking a look at attic insulation and cavity walls insulation, implementation of low-energy LED lighting and installation of a SMART meter.
Some of the larger energy suppliers are also offering help and advice to landlords. If you’re unsure of anything, why not try getting in touch with your energy provider for further guidance too?
Electrical Installations and Appliances
Ensuring that electrical installations and appliances are safe and in good working order are key considerations for all landlords.
With electrical installations, there’s a recommendation from the Electrical Safety Council to have a qualified electrician carry out inspections and tests every five years. Furthermore if the property is a house of multiple occupation, this becomes a statutory requirement.
With regards to appliances, the government has confirmed that PAT testing of appliances is solely at the discretion of the landlord. That said, the Electrical Safety Council do advise that for larger appliances such as fridges, washing machines and electric fires, PAT testing should be carried out every 4 years. For smaller appliances like lamps, kettles and toasters, they recommend PAT testing should be done every 2 years.
In Summary
So, there you have it. It’s officially a great time to be a landlord in terms of the record numbers of properties being rented, however it’s also a potentially dangerous time for landlords that don’t take health and safety seriously.
By keeping up-to-date with current legislation and getting the right help from expert consultants, you’ll help to keep your properties in perfect order whilst remaining fully compliant. These two things combined will make it easier for you to rent your properties out, stay profitable and, most importantly, keep your tenants safe and happy.
No comments:
Post a Comment