2020 has been a challenging year for landlords. The industry has faced many new challenges, but this doesn’t mean you can afford to ignore existing challenges. One of the most important issues for landlords to consider is the huge array of regulations you must comply with.
At the start of 2020, landlords had to comply with more than 150 regulations. This year has seen existing regulations be updated, and new regulations come into force. Complying with regulations is often a full-time job for landlords, but we are here to help.
At Just Lets Peterborough, we are on hand to ensure you make informed decisions, and aren’t at risk of failing to comply with the leading regulations in the industry.
Do you need a landlord licence?
Selective licencing came into being in 2006 as a way of forcing rogue landlords to adhere to rules and regulations. Local council authorities have the power to implement a scheme if they experience issues with anti-social behaviour or low standard of housing in a local area.
The scheme requires landlords to follow specific management rules, and if they don’t, they can be fined.
There is a Selective Licensing scheme in place in Peterborough. According to the local council website, landlords must have the following information when applying for the scheme:
- Details of the tenants
- Information about the property to be licensed
- Documents relating to the property, the licence holder and any manager (see checklist below)
- If the manager and licence holder are two different people then an additional Fit and Proper Person Sheet will need to be completed (see below)
Do you carry out Right to Rent checks on all tenants?
Section 22 of the Immigration Act 2014 requires landlords to verify tenants legally have the Right to Rent in the United Kingdom. This requirement has been in place since February 2016 and landlords who fail to check a tenants’ Right To Rent may face a civil penalty.
Are you protecting a tenants’ deposit in a licenced Government scheme?
Landlords must secure a tenant’s deposit in one of the Government approved tenancy deposit protection schemes. There are two primary forms of deposit protection schemes, custodial and insurance.
Do you have an Energy Performance Certificate (EPC) in place?
Rental properties must hold an EPC rating of at least an E to be valid for rental purposes. Landlords who fail to comply with this regulation may face a fine of up to £4,000.
Have you arranged an annual gas safety inspection?
The Gas Safety Regulations of 1998 means landlords must maintain all gas appliances, flues and pipe works in a safe condition. The annual gas safety inspection must be undertaken by a Gas Safe Registered engineer, who will issue a Gas Safety certificate if applicable.
The landlord should retain this certificate until the following test. A copy of this certificate should be provided to the tenant.
Are you compliant with electrical safety regulations?
As of July 2020, electrical safety regulations, similar to the gas safety regulations, will apply to rental property in England. Landlords must ensure their property is compliant with these regulations. For all new tenancies beginning on or after 1 July 2020, the rental property must hold this certification.
This is a new piece of legislation, and we appreciate some landlords might have overlooked this matter. We are happy to provide assistance in complying with this matter.
Do you comply with smoke and carbon monoxide alarm regulations?
As of 1 October 2015, landlords must ensure there is at least one smoke alarm on every floor of rental property. Also, when there is a solid fuel source in the rental property, landlords must ensure that there is a carbon monoxide alarm in this room.
The landlord is responsible for ensuring each alarm is in working order on the first day of a tenancy.
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property or tax requirements, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
You can find Just Lets Peterborough at 142 Oundle Road, Peterborough, Cambridgeshire, PE2 9PJ. Feel free to email us at email@example.com or call us today on 01733 346255.