Why you need professional legal advice on landlord and tenant issues
There are many risks involved when being a landlord, it is advised to seek legal council when renting a property out to tenants
Many people choose property as an investment as it is seemingly low risk and can generate a good return. One way to generate income from a property is to let your property out to tenants. When we think of the risks associated with this, we generally think along the lines of tenants not paying rent or causing damage to your property. However, what landlords, especially those that are new, often fail to remember is that the landlord and tenant sector is heavily regulated, and landlords will only be profitable if they can avoid the penalties and potential prosecutions that can catch landlords out.
The challenges
There is a considerable amount of law regulating both landlords and the condition of the property they are letting out, and this law is ever-changing due to new legislation and case law. Some examples include:
- You, as a landlord, are responsible for keeping the property in a good and safe condition, and if at any point your property falls below this standard, you are responsible for making any necessary repairs in a timely manner.
- You are responsible for providing the tenant with the relevant guides and safety certificates within a certain period.
- You are also responsible for dealing with the deposit under the relevant legislation.
- You are responsible for acquiring the relevant licenses that may be necessary to rent the property.
- You are responsible for ending the tenancy under the relevant legislation, should you wish to.
If you fail to comply with any of the relevant legislation, you could face large financial penalties, potential criminal prosecution, or you could find yourself unable to evict a rogue tenant, and in some cases having to pay the rent back to them!
Solution
These days, it is not a ‘get out of jail free’ card to have any agent managing your property. It is essential that your chosen agent is up to date on the relevant law, to ensure your property is compliant and your obligations as a landlord have been, and continue to be, met. This can prove a difficult task for agents as the law adapts so quickly it can at times seem impossible to keep up. The next challenge coming our way is the rental reforms as proposed by the Department for Levelling Up, Housing and Communities which looks to bring in several changes, including the introduction of the Decent Homes Standard for the first time in the private rental sector.
At Woodstock Legal Services, we work closely with multiple agents, providing them with regular training and a legal helpline to ensure that they are up to date with the law and can provide the best service to their landlords. We also work closely with landlords directly and can assist you before any issues occur by reviewing your paperwork to ensure you are compliant at the commencement of your tenancy, and of course to assist you with any queries you may have throughout the duration of your tenancy.
Contact Us
News & Insights
