The rental obligations for Landlords are constantly changing. Almost every day the Government is introducing new legislation that Landlords need to adhere to. So make sure you are keeping abreast…
If you are a Landlord of a privately rented property it is imperative that you keep abreast of these changes. The penalties for not doing so are severe and can include hefty fines. If your property is managed by a good lettings agent then they should make it their responsibility to inform you of any changes that effect you and put a strategy in place to make sure your property complies. If you manage the property yourself however, the responsibility will fall to you. Being a member of the RLA (Residential Landlords Association) is a good start and this has a wealth of information for Landlords on its website. In Cornwall, there is also the CRLA (Cornwall Residential Landlords Association) which again is a good source of information and has regular meetings that Landlords can attend.
EPC’s…and how the law is changing….
One piece of vital legislation that has been in introduced last year regards the Energy Performance Certificate or EPC. From 1st April 2018, it became compulsory for any property rented out in the private rented sector to have a minimum energy performance rating of E. This applies to all new lets and renewals of tenancies. It is now unlawful to rent a property which breaches this requirement, unless there is an applicable exemption. A civil penalty of up to £4,000 will be imposed for breaches. For most Landlords, this will mean that they will no longer be able to rent out a property with a rating of F or G.
However, the law will be changing again on 1st April 2020. From this date, the minimum E rating will also apply to all existing tenancies too. So, if you have a property that is below an E rating you should start thinking about taking steps to improve this before it’s too late.
There are of course exemptions and there are a number of sources to find out what these are – a good starting point being the RLA’s website.
To conclude…. legislation – keep abreast or pay the price! If you are unsure that you have the knowledge or the time to do so then ask a professional lettings agent to manage your property for you…you can then sleep well at night!
Thank you for taking the time to read this article …we hope you found it useful…the Peach Team