Selective Housing Scheme and HMOs require a license.
Top Tips For Landlords From Belvoir Burnley
Arrange a Free Market Appraisal
Protect your tenant’s deposit
It is a legal requirement to ensure the deposit is registered in one of the three government back schemes. We use the Deposit Protection Scheme. (DPS).
Proof of ownership
You need to be able to prove you own the property either by land registry or a mortgage statement.
Ensure you are legally compliant
EPC, EICR, Gas safety record, boiler service, legionella risk assessment, CO2 and working smoke alarms on every floor. It is important to ensure tenants have the ‘right to rent’.
Know your audience and understand the market
We can help you with this.
What does the property/rent include
Is it furnished? Does the rent include any bills? Think about limiting your liabilities by renting unfurnished.
Know what service you want
Fully managed is a hassle-free service. Only choose a let only service if you are an experienced landlord who knows current legislation (and there is a lot).
Know the costs, budget accordingly
Make sure you have the money set aside to cover your mortgage if the rent is not paid or take out rent guarantee to ensure your rent is paid if your tenants fail to pay the rent. Have available funds for any repairs that may need to be done. Make sure you purchase buildings insurance.
