October 30, 2008

Landlord’s legal responsibilities

At the moment the property rental sector is doing ok, with the demand for properties being stable because people are still not taking the plunge into the property market themselves. However, no matter how tempting it may be, a potential landlord should become acquainted to the legal requirements.

Essentially, there are five main rules to follow, they are as follows:

The Energy Performance Certificate (EPC), this has to be made available before tenants sign the agreement.

The property has to be in good condition.

All gas appliances should be checked by a GORGI registered expert.

The deposit has to be placed in an authorised scheme.

Finally, any furniture or electrical equipment has to comply with safety regulations.

For most landlords this will not be a problem as the rules are fairly straight forward, but failure to comply with any of these rules could mean fines, or even court appearances.

Source [Discount Letting]