Bloor & Co Ltd Estate agents will take you through a checklist of some of the essential steps to get you buy-to-let ready.
With plenty in the media lately regarding buy-to-let landlords ‘taking over’ the Sheffield housing market, we must appreciate that some people find themselves as ‘accidental landlords’, having to let property as a result of circumstance rather than choice. This can be intimidating. The legalities of the lettings market can be complex, so why not leave it in the hands of an experienced lettings agents, Bloor & Co Ltd.
Rearrange your mortgage: If there’s an outstanding residential mortgage on the property, be sure to transfer this to a buy-to-let mortgage, so it is wise to seek professional advice from our mortgage advisor.
Insure your property: If you are looking to become a landlord, be sure to amend your building insurance policy to one suitable for a rental property.
Gas safety Inspection: Having a Gas Safe Engineer carry out a check on your property annually is a legal requirement - failure to carry out an annual check could result in a £6,000 fine, or even imprisonment.
Fixtures and fittings check: If you are planning to leave any fixtures or fittings in the property, make sure these comply with latest product safety regulations. Be it appropriate labels declaring flame or fire proofing or ensuring electrical goods are PAT tested.
Fire Safety: Legally, all rental properties must be let with a working smoke alarm on every floor and a carbon monoxide alarm in every room where solid fuel is burnt. Alarms must be tested by the agent/landlord on the first day of tenancy and thereafter by the tenant.
Check your tenant’s right to rent: Legislation now requires all landlords and agents in England to check a tenant’s immigration status or ‘right to rent’ in the UK.
Prepare an inventory: List the contents and condition of the property, taking as many photos as possible, or let Bloor & Co Ltd prepare this for you!
OUR Final piece of advice:
Becoming an accidental landlord can seem daunting, but it needn’t be! Just make sure to keep to the guidelines or just leave it in the hands of the professionals….Bloor & Co Ltd. Contact us now: 01142500800 / firstname.lastname@example.org