Saturday, October 23, 2021
HomeReal Estate5 Legal Requirements of Renting Out Property

5 Legal Requirements of Renting Out Property

People who are thinking to rent out the property should know that there are so many legal requirements that you have to fulfill. Keep in mind that it will be better if you write each and everything within the rental contract. As that will be helping you to keep everything well documented. Other than that you should know that you have to make sure that the property is safe and secure for the tenant. And for this you have to take care of certain things. Here in this article we are discussing about legal requirements that landlords have to fulfill while renting out the property.

 1. Prepare Legal Documents to Rent Out Property:

Keep in mind that you are liable to prepare rent out legal contract. In which you have to write each and everything in detail about the tenant who you are leasing out the property. Details that you must include in legal document are the names of tenants, occupancy terms, maintenance terms, about safety equipment, its maintenance, amount of rent, date of lease, signatures of both parties, and also details of the safety certificates that tenant already has.

2. Hire Technician for Annual Electrical Checks:

Other than that you should know that landlords are legally liable to get the annual safety checks of the property which they are renting out. Most people don’t know why it is important to hire an electrician to annually check the electrical appliances. So that’s why they should know that it is a compliance document issued by a licensed electrician who will perform all the maintenance and testing work of electricity. This is a legal requirement issued within 30 days of finishing the electrical work of a new house, apartment or building.

3. Opt to Get the Legal Safety Certificates:

Another legal responsibility that landlords have to fulfill while renting out the property is to get all the safety certificates. As that will helpful in keeping the tenants safe and secure. But make sure that you hire the registered technician certified from EPC in London. He will check all the gas and electrical appliances present in your home and then issue you safety certificates. Keep in mind that you have to provide all this information to the tenants.

 4. Never Forget to Discuss Everything with The Tenant:

Other than that landlord is liable to openly discuss the leasing or renting out terms and condition with the tenant. He shouldn’t keep anything hidden from tenants and it will be better to write all the leasing terms in the contract. That will help you to avoid having any type of misunderstanding later on. So yes, it is better to prepare the legal lease documents with mutual consultation of the tenant that will help you to prevent having any type of major disputes.

5. Take Initiatives to Protect the Deposits of Tenants:

Another duty which landlord has to perform while renting out the property is to assure tenant that their safety deposit is safe and secured. Keep in mind that after receiving deposit landlord will have 30 days to protect the deposit under tenancy deposit schemes. And the landlord has the responsibility to tell the prescribed information to the tenant within 30 days of receiving the amount of deposit.

- Advertisment -

Covid Cases

All countries
Total confirmed cases
Updated on October 23, 2021 4:31 am

Most Popular

All Categories

Business Module Hub