Advice on renting out a property

council tax

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Anyone thinking of renting out a property should be aware of legal obligations before proceeding.

Stockton Council, in partnership with the Government's advisory body, Local Authorities Co-ordinators of Regulatory Services (LACORS), has issued a checklist that potential landlords should refer to before proceeding with a property rental.

Advice includes:

  • Talk to your mortgage lender.
  • Get references from potential tenants.
  • Prepare a formal tenancy agreement.
  • If you take a deposit, it must be properly protected.
  • Find out if you need a property licence.
  • Get all gas and electrical appliances checked.
  • Obtain an energy performance certificate.
  • Minimise the risk of fire.
  • Ensure that your property presents no risk to your tenants' health and safety.

Failing to talk to a mortgage lender could see people lose their home, while not storing a tenant's deposit in an approved deposit protection scheme could cost landlords three times over.

Failing to apply for a licence for a licensable property could result in up to a £20,000 fine.

 

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