17th April 2019
First Time Landlord Lettings Checklist
If you don’t know what to do with a property which has suddenly come into your possession, letting it via an agency can be a good extra source of income. However, becoming a landlord unexpectedly can be a daunting prospect. There’s a lot to consider when becoming a first-time landlord – if you neglect to complete certain tasks, you could fall foul of legislation and face fines or, worse, prosecution. It’s a good idea then, to review our comprehensive lettings checklist to ensure you haven’t missed anything out.
Lettings Checklist
Before letting the property:
Clean the property
Carry out improvements and decorate if needed
Ensure the Energy Performance Certificate is valid and get a new one done if not
Ensure the Gas Safety Certificate is valid and get a new one done if not
Have an Electric Installation Condition Report (EICR) compiled
Ensure working smoke detectors are installed on each floor
Ensure a working carbon monoxide detector is installed in any room using solid fuel
Have risk assessments for fire, legionella and asbestos completed
Ensure that building and/or landlord insurance is valid and get new insurance if not
Set up a self-assessment tax account with HMRC as a business owner
Compile inventory of contents
Take photographs to advertise the property
Decide whether smokers and/or pets are acceptable
Prepare an Assured Shorthold Tenancy agreement and other documents to be signed
When a tenant has been found:
Ensure the tenant provides the following:
References
The full specified deposit amount
Evidence that they have the legal right to rent in the UK
When all parties have confirmed they would like to move forward:
Create and jointly sign Assured Shorthold Tenancy (AST)
Jointly sign guarantor’s form with guarantor if needed
Get written confirmation from tenant they are happy to receive letting documents by email
Jointly sign inventory
Get tenant’s contact details
Take deposit from tenant
Take first month’s rent from tenant
Tenant to set up direct debit with you for rent
Take meter readings
Notify local council Council Tax Department of new tenants
Notify utilities companies
Protect deposit within 30 days of receiving it
Provide the tenant with the following:
Signed hard copy of the Assured Shorthold Tenancy agreement
Signed hard copy of the Guarantors Agreement (if needed)
Signed hard copy of the contents inventory
Your contact details
Your bank details for direct debit
Signed hard copy of current Energy Performance Certificate
Signed hard copy of current Gas Safety Certificate
Up-to-date copy of the “How to Rent – The Checklist for Renting in England” guide
Copy of current Electrical Safety Certificate if carried out
Copy of instructions for electrical and gas appliances
Certificate of Deposit Protection
Signed hard copy of Deposit Protection Prescribed Information and Clauses
Electrical Installation Certificate for any new or modified electrics
Minor Electrical Installation Work Certificate for any new or modified electrics that do not include a new electrical circuit
Deposit Protection Scheme information leaflet
Guarantors Agreement (if needed)
Copied evidence to prove tenant has a right to rent in the UK
Keys for all doors
Window keys
Keys to outside structures such as garages or garden sheds
Meter box key if applicable
During the tenancy:
Re-serve the most up-to-date copy of “How to Rent – The Checklist for • • Renting in England” between renewed tenancies if applicable
Re-protect deposit if you create a new tenancy agreement
Log all communications with tenant and create and maintain a letter/email trail
Respond to written complaints in writing within 14 days
Address anything that falls under your responsibilities
Periodic property inspections:
Inform tenants at least 48 hours ahead of time
Note the condition of the property, jobs that need doing and any tenant concerns
Feed back your property inspection findings along with follow-up actions if required
At the end of the tenancy:
Serve the correct form of notice depending on the circumstances of the tenancy coming to an end
Ensure current tenants give access to prospective new tenants to view the property
Collect keys and any other items given to tenant
Take meter readings
Check inventory and list deductions
Tenant to sign list of deductions from deposits and amounts
Return whole/part of deposit
There’s a lot to think about when renting out one of your properties, so our lettings checklist can come in handy. We have the experience and knowledge to handle the vast majority of work on your behalf. If you’re looking for a property to rent out, take a look at our range of homes in Warwick and Leamington! Get in touch with us today to find out how we can help by calling on 01926 832411 or via our contact form. You can also follow us on social media to keep up with what’s going on here at Charles Rose Properties.