Being a landlord can be a stressful and demanding job, regardless of all the preparation you put in to help things go smoothly. But being prepared for anything that may pop up will help save time and money. direct2landlord have put together a list of things you may need to consider.

 

EPC

An Energy Performance Certificate (EPC) is a mandatory requirement for all sales and lettings properties whether you are a private landlord or an agent.

An Energy Performance Certificate is a report that gives your prospective tenants or buyers an idea of how energy efficient your property currently is. The certificate last for 10 years, however if you have undergone significant refurbishments it may be a good idea to have this report carried out again as these works may have improved your rating.

Gas Safety Certificate

A Gas Safety Certificate is a mandatory requirement and has to be carried out before your prospective tenants take possession of your rental property.

A Gas Safety Certificate has to be carried out by a registered Gas Safe engineer and will last for 12 months unless you change or replace a gas appliance then you will require a new Gas Safety Certificate.

 

Inventories

An Inventory is not a mandatory requirement but is something direct2landlord strongly suggest you have.

If you choose to take a deposit for your rental property it is recommended you have an inventory carried out. This report will help you to prove the original condition of your property before your tenants took possession. Without an inventory you will find it hard to claim any of this deposit, as you have no record of your properties original condition.

It is recommended that you have an independent inventory clerk carry out this report, as this will show that you've not been biased with your conditioning of the property. Try to use a professional company that's a member of The Association of Professional Inventory Providers.

If you do however choose to carry out this report yourself it is advised that you complete it in as much detail as possible as the smallest thing can be costly to repair. To also help you it is advised that you have this report signed by the tenants, but you must give them time to go through everything. We suggest 7 days, but this is up to you.

 

Rent Guarantee Policy

Our Rent Guarantee Insurance has been designed to protect landlords against rent arrears and rent default.

Any Landlord who lets a property runs the risk of rent default by the tenant. Even good references cannot predict a tenant falling on hard times and not being able to pay the rent.

In the current climate, many landlords are finding their default rates are soaring as tenants struggle with unemployment and an increase in the cost of living. Recovering arrears can be costly and sometimes very difficult, without any guarantee of success or even repayment.

Our Rent Guarantee Insurance will cover landlords against their tenant defaulting or failing to pay the rent.

Have a look at the costs of our Rent Guarantee Insurance – it's very easy and cost effective to financially protect against rent defaults. A Rent Guarantee Insurance policy can provide real peace of mind, and the full cost is tax deductible against rental income – saving even more money!

Comprehensive Legal expenses and Rent Guarantee product covering the landlords costs for disputes between themselves and their tenants, with rent guarantee insurance up to a maximum of £2,500 per month. This is a 12 month policy which carries no excess and costs just £124.99 per annum.

 

Deposit

It is important to safe guard your property against any malicious or accidental damage and one way to do this is to take a deposit at the being of the tenancy.

If you decide to take a deposit from your prospective tenants then it is a mandatory requirement to have that deposit lodged with a deposit protection scheme. Failure to do so may mean you have to pay back up to three times the deposit amount to the tenant.  

There are three schemes to choose from:

  • Deposit Protection Service (DPS)
  • Tenancy Deposit Scheme (TDS)
  • MyDeposits

It is up to you as a landlord to choose which one suits your requirements and it is your responsibility to make sure that your tenants deposit is lodged.

direct2landlord can take this hassle away and lodge the deposit for you. We will also help with any deposit resolution.

 

Floor Plans

Floor plans are a good way to show case your rental property to any prospective tenants. It helps people see the size of your rental accommodation along with the layout allowing them to visualise the property. Property floor plans will help generate higher levels of interest which in turn will help you generate a higher rental yield.

direct2landlord can help organise your property floor plan to be carried out saving time and money.

 

Photos

Property photos are certainly the most important form of advertising your property and if you do not have the best photos to showcase your accommodation then you are missing out on crucial viewings.

We suggest that you take your photos using a wide angle camera and always from the best corner in the room. Try taking photos from different heights this will help give different viewing angles.

It is also suggested to have both the interior and exterior of the property clean and tidy. First impressions are crucial, once a prospective tenant discards your property they will not be coming back.

direct2landlord can arrange for a photographer to attend your rental accommodation and take photos to help showcase your property in the best possible way.