Advice for new landlords
Taking the first steps as a landlord can be both exciting and daunting.
With over 150 Acts of Parliament to keep track of it may be difficult to know where to start, particularly if you are one of the many who become 'accidental landlords' through inheriting a property or moving in with a partner.
Whether you have chosen to invest or you are an accidental landlord, this guide will get you up and running on the path to being a responsible landlord in England. We provide clear guidance on the things you must do and downloadable templates and resources to help you do this.
Preparation and planning before you let out the property is key to a successful relationship with your tenant.
It gives you the chance to familiarise yourself with your obligations, decide on the type of tenants you want to let to and make any adjustments you need to the property to prevent issues arising later.
It also gives you the chance to properly vet any prospective tenants. Less than 10% of tenants fall into arrears in the course of a year and fewer than 1% of tenancies end through a landlord going to court.
The odds are good that if you research your tenants they will be responsible.
The National Residential Landlords Association offers invaluable advice and guidance to anyone thinking of becoming a new landlord, as well as exising landlords.