Landlords Avoid penalties for non-compliance
Recent research carried out reveals that up to 10% of landlords don’t have a fully legal letting agreement between them and their tenants.
The results suggest that some landlords have no formal written tenancy agreement with their tenants at all, while many others may have a defective one where legal contracts are in place but the forms used are not fully up-to-date with changes in the law, leaving landlords not fully protected and in some cases putting their ability to evict a bad tenant at risk.
In 2015 we saw significant legal changes in the private rented sector, and the amount of documentation and compliance issues for private renting in England increased considerably. Not just letting agreements, but forms and possession notices such as Section 8 and Section 21 have all changed and will not be legally enforceable if used in their old format.
One issue that is commonly overlooked by inexperienced landlords is the requirement to put a tenants deposit into a government-backed tenancy deposit scheme (TDS) if the assured shorthold tenancy started after 6 April 2007 and just as important, the requirement to serve a section 213 notice on your tenant if they provided a rental deposit in order to comply with the tenancy deposit scheme legislation. Failure to comply will mean that you cannot use the section 21 eviction process and you could be subject to a fine of up to three times the deposit amount.
Whether you are an experienced landlord or considering your first buy to let investment, we can take the worry and hassle out of letting your property whilst ensuring that you are legally compliant to avoid hefty penalties. It is essential that our experienced lettings teams are up to date with new laws and legislation within the private rented sector which in turn provides peace of mind for the landlords that we work with.
If you would like to take the hassle out of letting your property, our experienced and friendly team of ARLA registered lettings professionals can manage the whole process for you. For further information on the services that we provide, you can contact Jo Stockton on 01903 213111 or email email@example.com who will be happy to help.
Content accurate at time of publishing.