As a specialist landlord consultant with over 12 years’ experience in the private rental market, we have been asked many questions by landlords. Over the past 12 years, we have gained the know-how and qualifications needed to manage properties like yours in the most professional manner.
Below are a series of the most common questions we are asked.
If you have any specific questions we would be very happy to answer them – please get in touch!
Do I have any legal requirement regarding letting?
Yes. Your property must be registered with Rent Smart Wales by the end of November 16 and you need to then attend training to obtain a license. Or My Place Properties will be able to manage your property for you.
You need up to date gas safety certificates and an EPC (Energy Performance Certificate).
What do I do with a deposit?
You are not allowed by law to hold a deposit that belongs to a tenant – it must be lodged with a recognised body such as the Deposit Protection Scheme. If there are any issues at the end of the tenancy and the deposit has not been protected, then the tenant could apply for the deposit back three times over through the legal system.
Do I need to inform my mortgage company if I take a tenant?
Yes. You need to ensure that your mortgage company knows that you are going to let your property – contact your provider.
Can I ask my tenant to move out?
No. You cannot verbally ask this question- you need to give two clear months notice in writing.
If the agreement is an assured shorthand tenancy agreement of six months you can give notice just before the end of month four- other than that the tenant is legally obliged to remain in the property until the end of the initial rental period.
What insurance policies do I need?
- You will need to have specialist landlord insurance- you can apply for this online.
- Buildings insurance.
- The tenant is responsible for contents insurance.
What do I do about fire protection?
It is recommended that all properties have hard-wired smoke alarms and hear sensors fitted.
It is also a legal requirement to have a carbon monoxide tester fitted in every room that contains a fuel-burning appliance.
What do I do if a tenant does not pay?
The tenant can be served notice- normally a Section 21 notice. This gives the tenants two clear months to leave the property (depending upon the content of the initial agreement).
If they still do not pay then you need to apply for possession of the property through the courts.
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