When you rent your property out, it is vital that you are aware of your legal rights and obligations.
You'll need to register as a landlord. The maximum penalty for letting out a property when not a registered landlord is £50,000. A ban can also be imposed on being registered as a landlord in any council area for a period of up to five years.
Landlords are responsible for ensuring that their registration is renewed every 3 years.
Inform your mortgage lender that you want to rent your property out. Some lenders have restrictions on who you can rent a property to.
Renting your property out can also affect your insurance. You need to make certain your insurers understand that you'll be renting out your property and provide adequate coverage.
Getting the Property Ready for Renting
Electrical Installation Condition Report (EICR)
Electrical safety inspections have to be carried out by a qualified electrician at least once every five years.
Gas Safety Certificate
If you have any gas appliances, arrange for a safety check every 12 months, called an Annual Landlord Gas Safety Record. This should be done by a Gas Safe registered engineer.
Legionella Risk Assessment
This must also be carried out prior to the tenant moving in. As a landlord, you have certain legal responsibilities when it comes to the health and safety of your tenants, which includes assessing and controlling the risk of legionella exposure in your rental property. This test should be carried out at least every two years.
Energy Performance Certificate
This document provides information on how energy efficient your building is, and how it could be improved. Buildings are rated on a scale from A to G, with A being the most efficient. Information is also provided on measures which could be made to improve the energy efficiency and indication of the cost for each improve. In addition to information provided on the EPC, more detailed information and advice is contained within the Recommendation Report which is provided with the EPC.