Q. I’m planning to take a year out and go travelling so have decided to rent my apartment out whilst I’m away. Having never done this before I feel completely overwhelmed with my responsibilities as a Landlord and wondered if you could give me a rough idea of what is expected of me, I have had so much conflicting advice I am feeling rather confused?
A. Renting your property can be a complete minefield if you have not been given the correct advice and understandably could leave you feeling rather dazed as to what actually is required of you. Speaking to a qualified agent is your first point of call as they will be able to advise correctly on the procedure that will eventually lead to you securing a successful tenancy on your property. To make sure that you are complying with the legal requirements of Landlords you will have to commission two things prior to renting. First of all arrange for an EPC (ENERGY PERFORMANCE CERTIFICATE) your agent should be able to recommend an inspector to carry this out for you, this must be organised prior to marketing. Secondly if you have gas in the property you will need to have a gas safety inspection carried out in order to have a gas safety certificate issued for the property, this will need to be carried out annually as long as you are renting the property. Although not a legal requirement I would also highly recommend that you have a PAT (ELECTRICAL APPLIANCE TEST) test carried out too, this will ensure that all the electrical equipment in the property is safe. Landlords also need to make sure that any furniture and equipment in the premises comply with the furniture and furnishings (fire and safety) regulations. If you are going to be overseas you will also need to complete an NRL1 form – an application by a non resident individual to receive UK income rental gross, otherwise whoever collects the rent will be liable to deduct 20% tax at source prior to releasing your rental income if you do not provide them with an approval number from the Inland Revenue. A professional inventory and check in is also something the Landlord is responsible for and imperative for recording the condition of the property prior to occupation, the tenant will be responsible for the check out. A professional clean of the property including steam cleaning of carpets and furniture as well as curtains is also necessary and the tenants again would be responsible for the same at the end of the tenancy. Your agent will be available to advise and organise most of the above for you including drawing up the contract and professional referencing of the tenant and then once moved in ensure that the tenants deposit is protected in one of the governments three approved TDP (TENANCY DEPOSIT PROTECTION) schemes.