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Posts Tagged: Tenant

Will The Numbers Of Live-In Lodgers Increase?

Over the years, an increasing number of homeowners have been taking in a lodger to help supplement their income and this may well be going to continue for the foreseeable future providing competition for the traditional landlord. In fact, some time ago LV carried out some research that showed that the number of people that owned their own homes and decided to rent out a room in the property to a lodger had risen from 1.4% back in 2009 to about 2.7% in 2014. This rising trend may well continue as the Government has agreed that someone can rent out a room in their home and not pay any tax on the income this generates up to an income of £7,500 per annum from April this year. At the moment the figure is £4,250 per annum so the new figure is a considerable increase. Many homeowners will have taken in a lodger in recent years to help them supplement their income during the economic problems that this country went through and, for many people, still are. If you are thinking of having a live-in lodger then there are some things that need to be considered. For instance, rules will need…

What Makes A Good Landlord

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The majority of landlords provide their tenants with suitable, well-maintained accommodation that is comfortable to live in. So, let’s have a look at some of the other things that makes a good landlord. Tenancy Agreement An Assured Shorthold Tenancy (AST) agreement should be drawn up and signed by all parties. This will cover things like the amount of rent that is to be paid, the length of the tenancy and what each party is obliged to do. Rent Make sure that the amount of rent being charged is reasonable. Charging a tenant a vastly inflated amount each month may result in him or her finding alternative accommodation. Safety It is important that the property to be let out is safe for the tenant to live in. For instance, the gas appliances should be checked by an engineer that is “Gas Safe” registered. The electrical appliances must also be checked annually by an authorized person. Fire alarms should be in good working order. Deposit When the tenant gives the landlord a deposit this must be protected within a scheme that is authorized by the government. Energy Performance Certificate The majority of properties should have an Energy Performance Certificate that shows how…

Rent A Room For £1 Per Month

Apparently, someone is offering to rent out a room in a property in the East End of London for only £1 per month and, so far, over 1,000 enquiries have been received by this particular landlord. That does seem to be an incredible offer but there are some conditions such as the tenant must have certain IT skills, have a UK driving license and work part-time for the landlord without being paid a salary. The landlord requires a web developer to do some IT work for him. It is estimated that a room in such a property could be let out for more than £600 per month. The tenant will have a double room with brand new furnishings and be able to use the garden. He or she will also have access to the Internet. This sort of arrangement is popular in certain other European countries and is believed to be growing in popularity between a number of landlords and tenants in the UK. Following the above arrangement being publicized so much it could lead to an increase in such lettings. For instance, there are no doubt a number of elderly people who own large properties who would welcome some…

Make Sure Your Tenanted Property Is Properly Maintained

As a landlord, you have a duty to maintain the property that you are renting out to a tenant so that it is perfectly safe for them and their family to reside in. You must ensure that it meets all the appropriate regulations and that things like gas appliances are checked when required to do so. The implications of not doing so could be serious. Potentially, in certain situations, you could be putting at risk the lives of your tenants or placing them in danger of suffering serious injury. The consequences on a landlord not maintaining such a property could also be serious as indicated by one case that recently went to court up in Manchester. Apparently, a landlord was prosecuted earlier this month for not having undertaken certain repairs to a property that he let out. The tenant had complained about the state of the property they were renting and the property was inspected by local housing officers. They found a number of things that concerned them. For instance, a smoke detector had not been fitted downstairs. There was a problem with the bedroom windows as they could not be opened at the bottom. The back door was very…

How Often Do You Inspect Your Rented Out Property?

If you rent out a property to one or more tenants you will no doubt wish to make periodic inspections of the property to make sure that it is being well-maintained and that the tenant(s) are not breaking any of the tenancy conditions. For instance, if you do not allow pets in the property, you may wish to make sure that there aren’t any. As the landlord, you do have the right to gain reasonable access to the property to inspect it. In order to do so you should always ask the tenant’s permission having given a minimum of 24 hours notice. It may be that if you use the services of a letting agent that he or she carries out periodic inspections on your behalf but there is nothing to stop you doing so yourself as well. If you do not use a letting agent then you should consider carrying out inspections every so often. How frequently is up to you. If you have a long-standing tenant who has been in the property for years you may choose to visit the property very infrequently. However, just because someone has been paying the rent for years does not mean to…

What Action Do You Take If A Tenant Misses A Rental Payment?

Before discussing the above, it is perhaps a good idea to remind you of the legal situation should a tenant miss their rental payments. You are no doubt aware that you are not legally allowed to repossess your investment property just because your tenant has missed a month’s rent. It requires a court to finish a tenancy agreement due to non-payment. In fact, usually your tenant must be at least 2 month’s behind with their rent before a court will consider giving a warrant for possession. However, there are a number of things that you can do to reduce the possibility of having to take legal action. Let’s have a look at some of them: – Vetting of prospective tenants To reduce the possibility of problems with non-payment of rent, you could ask to see bank statements and salary slips. You could get a reference from a previous landlord and one from the employer. You could also have a credit reference search carried out to help assess the creditworthiness of the prospective tenant. Guarantor You may ask the tenant to provide the name of a reputable individual who would be prepared to act as a guarantor should the tenant not…

Gas Safety – A Landlord’s Responsibilities

As a landlord it is quite likely that you will have gas coming into the property that you are renting out to one or more people. This gas could be used to cook with or provide heating. Hopefully, you will be complying with the Gas Safety (Installation and Use) Regulations 1998? This covers your responsibilities to ensure that gas flues, fittings and appliances are safely maintained for the protection of your tenants. After all, you would not want them to suffer carbon monoxide poisoning. Accommodation covered by the above includes the likes of local authority housing, private landlords, housing associations and hostels. It also covers holiday properties being rented out such as cottages, boats and caravans, hotels, bed-sits and private houses/flats/bungalows. Not only are you responsible for the appliances and flues but also you must ensure the pipework is well maintained. You must have the gas appliances serviced on a regular basis by an engineer that is Gas Safe registered. Every 12 months a gas safety check must be undertaken of all the gas appliances and flues. Following such a check being carried out you have a period of 28 days in which to provide your tenant with a copy…

Research Reveals Significant Number of Tenants Are Misbehaving

Did you know that there are around 8.3 million tenants in the UK and quite a few of those are proving to be less than perfect? This is based on research conducted by AXA. Apparently, not far off 60% of tenants have confirmed that they have broken the conditions within their rental agreement. We are sure that you will agree this is a huge number of people and is cause for concern. Perhaps this brings into question the procedures a number of landlords must be following, or not, when assessing the suitability of tenants to take up occupancy in their properties. Another concerning statistic was that about 33% of tenants broke the law as far as renting a property was concerned. This could include things like theft from the owner of the property or committing a criminal offence at the property they are renting. A staggering 10% of tenants admitted to have done a “disappearing act” to avoid making payment to the landlord. We are a nation of pet-lovers but some landlords do make it a condition of the rental that no pets are to be kept at the property. Apparently, 18% of tenants have breached this condition by having…

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