Letting your property is a great way to source an extra income, however you need to ensure you are doing it properly (and legally). Please see the below summary of the most important responsibilities.
Energy Performance Certificate (EPC)
All domestic properties to let will require an EPC. We can organise this for you for a small charge. Once you have a certificate these are valid for 10 years. Please note if you property receives a rating of F or below improvements will need to be made before it can be let.
Where there is a gas supply to a property it is a legal requirement to obtain an annual gas safety certificate. We can organise this for you or you may prefer to organise this yourself.
You will need to insure your property with an appropriate landlord's cover policy (this should covers buildings, your contents, liabilty and other aspects involved with letting).
Repairs and maintenance
All repairs and maintenance is the responsibility of the landlord unless the damage has been caused by the tenant.
Landlords are liable to be taxed on income from a tenant/let. For advice for UK landlords please visit: www.hmrc.gov.uk .
Tenancy Deposit Protection
It is a legal requirement that tenants deposit are registered into one of the approved tenant deposit schemes. This is an independent third party so neither the landlord or the tenant can withhold the deposit unfairly. Coles Group are members of the Tenancy Deposit Scheme (TDS).
Electrical Safety - The Landlord must ensure that all electrical appliances in the property are safe for use.
Smoke Detectors - The law requires that all new houses built after June 1992 and all properties declared as Houses In Multiple Occupancy must have electronically linked, mains operated smoke detectors installed on each floor. Although older properties are exempt from this requirement, we recommend that detectors are installed in all rental properties as it could invalidate your property insurance not to have them.
Furniture & Furnishings Fire Safety - The Furniture & Furnishings (Fire) (Safety) (Amended) Regulations 1998 require that all upholstered furniture and furnishings in rented properties pass the “cigarette test”. If any property is found not to comply the landlord faces fines or imprisonment, or both. Any furniture or furnishings that do not comply with these regulations must be removed before the tenancy commences. Also, if any items are replaced during the tenancy, these too must adhere to the regulations.
Generally, most furniture purchased from reputable suppliers after March 1990 should comply with the regulations and will be labeled accordingly.