01789201914 enquiries@capc.uk.com

10 documents every landlord should have to hand

As a landlord, no matter whether you have one property or a large portfolio, it’s important to keep on top of all the paperwork associated with owning the buy to lets. Here are ten key pieces of documentation you should have up to date and to hand:

1. Energy Performance Certificate.
Before a property can be marketed for rent, the landlord must be in possession of a valid EPC and the rating displayed on all advertisements. A copy of the certificate must be available for any prospective tenants to view and provided to the tenant.

2. Gas Safety Certificate.
This certificate proves that the gas system in the property has been checked by a Gas Safe registered engineer within the last 12 months and determined to be in full working order. A copy of the certificate must be provided to the tenant and in a House in Multiple Occupation (HMO), it should be clearly displayed in a communal area.

3. Domestic Electrical Installation Certificate / Electrical Installation Condition Report.
The certificate is issued when a system is installed or updated and the condition report when it’s tested. In an HMO, the electrics must be checked, legally, every five years; in a single let property, while there is no specific timescale for regular inspections, you are obliged to make sure the electrical system is safe. Electrical Safety First recommends inspections are carried out on change of tenancy or every five years, whichever comes first. There is no requirement to provide tenants with the paperwork, but it’s important for you to be able to prove when the last inspection took place, in case of any problems.

4. Fire Risk Assessment form.
As part of your responsibilities under the Housing Health and Safety Rating System (HHSRS), you have an obligation to identify potential hazards in the property and take reasonable steps to minimise the chance of a tenant suffering injury. The best way to prove you have done this is to complete a risk assessment form, freely available online here or from your local fire service and, to ensure there is no challenge to the validity of the form, it’s a good idea to have a qualified fire safety professional carry out the assessment on your behalf. Keep the form safe and revise it every time there’s a change to the hazards in the property and at least every few years.

5. Assured Shorthold Tenancy, or other tenancy agreement.
It’s vital that you don’t move any tenant into the property without being in possession of a signed tenancy agreement, which demonstrates that the tenant is aware of their rights and responsibilities and agrees to comply with them. If you need or want the tenant to leave at any point during their tenancy, it’s essential you can quickly and clearly identify the date the tenancy started and the terms of the agreement, to enable you to serve the correct notices at the right time(s) and help prove any breaches of the terms.

6. ‘Right to rent’ check paperwork.
It’s important to keep a record of all correspondence and other information obtained when verifying that your tenant has the legal right to be in the UK. If they should be found to be illegal immigrants at any time, you must be able to show that you took every care to check their status. Remember also to make a note of any visa expiry dates so that you can re-check for valid extensions, etc or outsource this process to a qualified agent.

7. Tenant’s personal details.
If anything goes wrong during the tenancy, such as the tenant leaving without notice, falling into rent arrears or suffering an injury, you should be able to quickly access all their details those of their next of kin, emergency contact and any guarantor.

8. Inventory.  
A thorough inventory should be taken at the start of the tenancy and, importantly, should be signed by the tenant to confirm that they agree with the contents of it. It’s advisable to take this inventory to the property every time a periodical inspection is carried out, so that any damage to the property can be addressed as it is discovered, rather than waiting until the end of the tenancy, which may be some time down the line.

9. Tenancy deposit protection information.
If providing an AST and taking a deposit, you have to provide your tenant with details of the scheme you’ve used to protect their deposit, as well as related prescribed information. If you use a custodial scheme, you will need the deposit ID reference and also your repayment ID, in order to apportion and release the deposit at the end of the tenancy.

10. Landlord insurance policy schedule.
Emergencies can happen at any time and you need to be able to quickly lay your hands on your insurer’s details and information about what to do if you need to make a claim.

 

For further information call: 01789 201 914

Or email: enquiries@capc.uk.com

Contact our expert advisers now

Call free from landline or mobile

01789201914

Not the right time for a call? Email us and we can arrange a good time to discuss your needs

enquiries@capc.uk.com

Mortgage Blogs

The ins and outs of overpayments

Once you’ve settled into your mortgage and have gotten used to your new outgoings, you may find that you have a bit more disposable cash than you first thought. So the next question is: what should you do with the money?

Remortgaging FAQs

Whether you should remortgage or not will depend on your individual circumstances and needs. If you have found a lower interest rate and it’s financially the better option then it might be more suitable for you to remortgage. You also might want to remortgage for the following reasons:

New rules on borrowing for portfolio buy-to-let investors

From the 30th September this year, landlords with four or more buy-to-let properties will have to satisfy different criteria to secure mortgage borrowing, as they will be considered ‘portfolio investors’ under new rules being introduced by the Prudential Regulation Authority.

Advantages of buying a new build

Just like everyone has their own style when it comes to fashion, it’s the same when it comes to houses. Some people prefer period houses that have character and unique features, whereas others might prefer a new build property with a clean, modern look and feel that you can make your own.

Help to Buy for Homemovers

Many of you may already be aware of the Help to Buy scheme that was introduced back in 2013 that aims to help those struggling to save money get onto the property ladder, or to move home. However, it’s a myth that all Help to Buy schemes are for first-time buyers only.

How does remortgaging work?

You may well have heard of remortgaging but never fully understood what it means. In layman’s terms, remortgaging is when you look to move from one mortgage deal to another, either sticking with the same lender or moving to a new one. A mortgage is likely to be your largest financial commitment…

New HMO rules – 01/10/18

Two new pieces of legislation have come into force on 1st October will affect thousands of HMO landlords* and could result in big fines for those who don’t comply. With the potential to earn higher rental yields and the peace of mind that comes with knowing that if one tenant moves out you won’t fall behind with mortgage payments…

How To Guides

How to create your dream self-build home

Is it your ultimate dream to one day design and live in a home that you’ve created yourself? But perhaps the thought of going into the unknown is putting you off making it happen? In this article, we’re taking a closer look at the journey of a self-build project…

How to renovate a rental property to reduce further maintenance costs

Buying, renovating and potentially furnishing a property is an expensive process and it’s natural to want to keep costs as low as possible, particularly if you are trying to make a limited amount of capital stretch far. However, as legions of landlords before you have learned…

How to downsize – Top tips for empty nesters

Have you been rattling around your big, old house for quite some time now? If so, downsizing might be the right thing to do. A driving force for many to downsize is an empty nest. If the kids have grown up and moved on, having to look after a big, empty house can become a burden.

Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured upon it.

A fee of up to 1.5% of the mortgage amount may be charged depending on individual circumstances. A typical fee is 0.67%.

We use cookies on this website to give you the best experience we can. To find out how to turn off cookies, have a look at our privacy & cookies policy