New Rules and Regulations put Landlords at Risk.
Legislation is changing at a rate of knots, and even managing agents can find themselves on the wrong side of the law. Are you sure you are legally correct and complying with the law?
For example, did you know that from October 2018 the rules for HMO’s changed to include ALL properties where two households share an amenity and require an HMO licence. Even single-story bungalows with three or more unrelated persons living there are Houses of Multiple Occupation.
Can you prove your tenant was issued with current “How to Rent” leaflets when they signed the tenancy agreement? You need this proof if you ever want to obtain possession of the property, and you are breaking the law if you did not issue this to your tenant.
Are you aware that the Government has announced amendment to Tenant Fees Bill that not only bans landlords or agents from charging tenants any administration fees but also lowers the returnable Deposits
tenants will have to pay up front for a tenancy from 6 to 5 weeks’ rent.
Did your tenant move in before 1st October 2015? New legislation requires you to contact that tenant NOW to issue them with new documentation.
These are only a few examples of the pitfalls that you may be heading for if you manage your property yourself, of if your Managing Agent is not up to scratch.
Here at RPC we are kept up to date not only by our membership in Lettings Professional organisations but also our legal advisor.
We know there are many well meaning landlords who are technically breaking the law, and this is a worry as the consequences can be serious.
Recently several long-term landlords who have been managing their own portfolios have asked RPC to take on this responsibility, and we have made sure they are now totally compliant with the law. We have also taken over the job of dealing with Universal Credit for them which is another real headache for many landlords.
If you are in this position, or if you are not confident that your current managing agent is doing the job properly, please contact us for a no obligation meeting or discussion about how we might be able to help you.