Any Landlords just give me a little advice here.
Talking with a friend recently about the number of hoops that he has to jump thru' to get his property rentable. Gas certificate, smoke alarms etc etc.

I just wondered if there was an opening for a company to inspect, carry out work as required and certificate when complete.

Always looking for that niche market..

the are companies out there that will do a

pre/post tenancy inspections (normally expensive)

companies that will do the Gas and electrical safety certificates and also the new mandatory EPC that come in force in October (you'll need this in place to advertise the property) and home safety packs (smoke alarms/fire blankets etc)

I'm my opinion theres not a real opening for something like that, unless there is not a franchise in your particlular area

You could always use a letting/managing agent (like myself ) who could also sort out your insurance too

I have a boxful of properties that I let and manage myself - it is not rocket science at all, agents charge around 10 -12% +VAT

Once you know what is is involved it is no effort really - PM if you have specific Q's

I have aproperty sitting empty which I'm thinking about letting out so would also be interested to know the dos and don't on this subject. 2005 Zambezi TDV6 - Gone but not forgotten
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have a read through websites such as www.landlordzone.co.uk

basically, you need to know its electrically safe (electrical safety cert inc PAT test on things like kettles/toasters if provided), Gas will need to be checked every 12 months (Landlords Gas Safety Certificate) and as of October you need to have a EPC (Energy performance Certificate) to advertise the property. which like selling a property ones showing the level of efficiency the the property is graded A-G. So tenants can judge which property may cost them more to heat .

also make sure the property meets the fire safety regulation on any soft furnishing, that they meet 1988 and newer sections for fire safety, (No flammable foam etc and all things that have foam have the fire safety labels)

also, Check with the mortgage company (if applicable) to check you are allowed to rent it out, AND make sure you have the property insured to rent out too, (normal insurance policy's don't cover this, unless you ask for them to cover it or you could find your self in trouble if you were in a position to claim)

You have to either take out an insurance policy to cover the tenants bond, or deposit with the tenant deposit protection scheme by law too (the latter been free and government backed)

You can also look at Legal cover and rent guarantee policy's too

I don't deal with HMO (house of multiple occupation) which are things like student digs etc so i won't advise on that.

Unfortunately agencies / estate agents / councils all have different interpretations of the Housing Act and each council has slightly different regulations. Its not rocket science but does require a little bit of home work.

Unless I have misread the requirements of the new EPC's, they are not required if you let a property BEFORE October this year and therefore already have a tenancy in place. They are required for all new tenancies after that date.

Be careful with deposits and make sure you have a deposit scheme in place. They are now a pain in the arse but can work in your favour.

Smoke alarms, again AFAIK, are not required for a sole tenancy but are recommended. They are required for HMO's, licensed and unlicensed and yes gas certificates are mandantory. Electric safety checks are only a recommendation at the moment.

I specialise in Student Accommodation, therefore if you want any advice PM me. MY10 TDV6 HSE, Alaska White, Ebony with Contrast, Park Heat, Paddle Shift, Privacy, Heated Steering Wheel, Extended & Premium Leather,

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IMO avoid HMO's rent unfurnished, take care of insurance, ensure it is B2L mortgage and keep on top of gas safety and you are there...

...and its worth considering self catering holiday lets.

There used to be some compelling tax advantages but these have now been removed (it was the only investment in residential property that qualified for business asset taper relief - which took gains down to 10% tax rate - now they are 18% tax on gains like all other property / non property assets). There still are some good tax breaks like the fact the income is treated like trading rather than rental income so you can offset losses and claim all costs as deductions.

The income can be up to 4 times that generated from residential letting, but the costs of cleaning, maintenance, furnishing, advertising, agency etc are a lot higher. Occupancy rates are critical, but get the right property in the right place and you can get over 90% occupancy. You can have private use and throw a few weeks into timeshare swap schemes etc, so your own holidays can be well looked after.

Certainly holiday lets need a lot more work than residential lets, but they can be reasonably economic and even some fun. RRS TDv8 HSE Rimini
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