Once upon a time being a landlord was fairly easy. You simply bought the house and then got the estate agent to get you tenants with little or no regulation nor risk. Things have massively changed and tenants, these days, are far more savvy and have, quite rightly, great expectations!
It is very much different now with many things not least having great knowledge of The Housing Act. If you self-manage the property, you need to be efficient to ensure the deposit is protected in a timely fashion, there are various risk assessments in place such as Legionnaires, the Gas Safe test is done annually and a whole heap more which will take a book to write.
There are a few changes which need auctioning and consideration immediately;
The first is are you following law when it comes to smoke alarms and carbon monoxide alarms. From October there are stiff penalties if you don't have a smoke alarm (in full working condition) on each floor of the property and a carbon monoxide detector where there is a risk (i.e. gas fire).
The second is that the government are seriously considering their stance of illegal immigration and their housing means. therefore it will be likely that the landlord will need to be immigration officers too. It is reality that it will be a criminal offence if you are found housing an illegal immigrant in your property and therefore could face a prison sentence if found guilty.
the great news for our existing landlords is that we are really good at managing and protecting our landlords. Being ARLA regulated we have to be so and as such are fully qualified and fully audited.
If you need to know more then do pop into one of our offices, go onto our website (www.conranfinancial.co.uk) to request a speedy valuation or just call us on 0800 689 3172.