The cost of DIY for landlords

Morning folks,

It is clear that changes to S21 eviction procedures introduced back in October 2015 are not being adhered to by some letting agents and landlords.

The increase in demand for buy to let investments since pension reforms were introduced last year, coupled with the rush to buy investment properties ahead of the April 1 stamp duty surcharge deadline, means some less experienced purchasers are failing to check their compliance with the Deregulation Act. http://www.legislation.gov.uk/ukpga/2015/20/crossheading/housing-and-development/enacted

This legislation outlines the areas that landlords need to ensure compliance of when dealing with new Assured Shorthold Tenancies after October 2015.

These were that a landlord or agent acting on their behalf must provide (before the start of a tenancy) copies of the energy efficiency certificate and gas safety certificate and a copy of the government’s How To Rent booklet. They must also provide evidence that the tenant’s deposit has been protected in a recognised scheme.

Failure to comply with these elements can impact on the landlord’s ability to serve a S21 notice in order to evict tenants; in addition, the act also puts restrictions on an agent or landlord servicing S21 notices where they haven’t responded appropriately to disrepair complaints from the tenant. In spite of the Deregulation Act being introduced almost a year ago and being enforceable against new ASTs since October, there are a worrying number of landlords who wish to evict their tenants but can’t due to their own mismanagement of the tenancy agreement. Perhaps of even more concern is that there are also otherwise 'reputable' lettings agents who are similarly not as compliant as they need to be or as not as legally tuned up as they suggest.

Most commonly landlords are failing to secure the tenant’s deposit in the stated timeframe or neglecting to ensure that the property is fitted with the necessary number of smoke and carbon monoxide alarms and checking them prior to the start of a new tenancy.  Agents, meanwhile, can slip up simply by not providing the tenant with a copy of the government’s prescribed information booklet.

In review it is therefore even more important to do one of two things as a landlord:

1. If you are to manage your property or portfolio yourself you need to ensure you are absolutely aware of your obligations and ensure you keep in tune with changes affecting the PRS (private rented sector) Legislation will not tolerate 'not being aware' of changes. 
2. Look very closely when appointing your letting agent. Resist the ever growing temptation to instruct them based purely on fees. It can and has been a very, very costly mistake for some.

 Free as ever if you want a chat people.