Posted by Admin - 15/03/2016
Now that your tenant is about to move into your property, and before you prepare your move in pack ensure you have carried out all the necessary items from your checklist:
Screened and referenced your tenant.
A third of all tenancies go into arrears by £6,500 on average. Properly referencing tenants helps to mitigate this.
Ensured they have the right to rent
As you probably know, as a Landlord, the obligation to check each of your tenants has the ‘Right to Rent’ in the UK now falls on you. This involves getting copies of the right documentation and making basic checks on it for all tenants whether UK nationals or not. Penalties for not carrying out these checks are up to £3,000
Prepared your inventory
There is absolutely no point in taking a deposit unless you have a good inventory. Any dispute will fall in the favour of the tenant. An inventory clerk can do this for you, alternatively you should compile a complete and detailed inventory of the property including meter readings, all items in the property together with photos, age and condition including the property itself.
Prepared a legal tenancy agreement
Do not use off the shelf tenancy agreements, they are rarely appropriate or complete with regard to all of the eventualities a good tenancy agreement should cover. If you have purchased a suitable tenancy agreement in the past, speak with the provider to ensure it has been updated in line with all of the recent changes in legislation.
Registered the deposit in a government backed scheme
Ensure you take a deposit and properly register it in one of the 3 government backed schemes. You will need to issue the necessary prescribed information at the right time to your tenant(s). Landlords can be penalised for doing this incorrectly and fined up to 3 times the amount of the deposit.
Now the next step is to prepare a move in pack for your tenant. The move in pack should contain the following information:
Copies of all Right to Rent documents
A copy of the Government’s How to Rent guide
The Section 21 notice
Here at 9yds, free membership includes supplying your tenant with their move in pack.
Finally, we recommend that you seriously consider purchasing a rent warranty product. 9yds can also provide this as an optional addition to your membership for a fee of £150.