Don’t gamble on your buy-to-let!

Most people go into the private rental market as a way to bolster savings and to boost pension pots,  with the returns traditionally yielding better returns than putting money in the bank, private rentals were considered an easy sideline often run alongside other businesses or whilst living abroad. Deregulation 2015 has changed the game, with 2016 and 2017 seeing additional adjustments to tenancy requirements and changes to laws that have come into effect with very little fanfare, so many landlords have tenancies that full within new requirements, which are not fully compliant and if they require to end the tenancy the situation could descend into a costly time consuming farce.

How do you avoid the unwitting gamble between the cost of being fully compliant against cutting corners, sometimes unknowingly. With fines for not being compliant increasingly being applied to landlords it is incumbent on a landlord to know and do all that is required.

Here at Creative Green Energy we meet many landlords and have found that many are unaware of ALL of their responsibilities and may only be partially compliant or in most cases would not be able to demonstrate full compliance with the Deregulation Act 2015 under the sub-heading Housing and Development and covered 20 acts.

We are dedicated to supporting landlord with: EPCs, Floor Plans, Gas Safe, Legionella Risk Assessments which are bookable via our website!

Through the medium of blogs and social media we will share best practise to help make being a landlord easier in terms of compliance and so stress free.

Our top tips to landlords are:

1/ Know the requirements for yourself don’t rely on Letting or Estate Agents to inform you

2/ Belong to a landlord’s association, get the up dates via email and keep up to date

3/ Do all the checks when they are required, inform your tenant and keep good records of everything

4/ Use the services of independent property professionals

The last of the tips for this blog would be to read blogs and news articles like this one.