If you are working with an agent, they will be able to take care of all tenancy agreements, handling of deposits and inventory arrangements for you however it’s still worth knowing exactly what these are.
If you haven’t already, take a look at our section on Deposits and tenancy agreements to learn more.
Taking a thorough inventory, with photos, at the start of the tenancy will reduce potential disputes over damage to the property. The inventory should list all fixed and freestanding items within the property, their condition and location. Professional inventory companies can help you with this. Alternatively, you can find a useful guide on what to include in a typical check in report here.
Since October 2015 you, as a landlord, have a legal obligation to ensure smoke alarms or carbon monoxide alarms installed are in working order on the day a tenancy begins. You’ll need to make sure there’s a functioning smoke alarm on each storey where there is a room used wholly or partly as living accommodation. More information can be found on the RLA website.
Tenants will be expected to purchase their own contents insurance but you are responsible for providing adequate buildings insurance. If you are letting the property furnished it’s a good idea to take out cover for that although you will need to let your insurance company know you are renting the property out as it will affect the premium.
Make sure the property is clean and tidy. It not only creates a welcoming environment for your tenant, but it sets the standard you expect from them. Between tenancies is also a good time to make those small non-urgent repairs.
Just before your new tenant moves in, we’d also recommend:
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New build properties
Commercial property to let
Commercial property for sale