If you rent out a property, then you really should take out insurance to cover you should something go wrong.

What if your rented property was flooded?  Would you be able to afford to repair the damage and find alternative accommodation for your tenants?  Or what if your tenant stopped paying the rent?  If you rely on your rental income to meet your mortgage repayments, you could end up in a serious financial mess.

If you let a property but just take out standard insurance in your name, there is a very big chance the insurance company will refuse to pay any claim and therefore you will be out of pocket.  You need insurance that is specially designed for landlords.

When the time comes, it’s important to know your options so that you can make an informed decision on whether to extend or end your current tenancy.

If you want to end the tenancy during the fixed term, rather than at the end, you will only be able to do so if there is a break clause in the agreement. Break clauses are normally mutual and, as the landlord is legally required to give two months’ notice under an AST contract, the tenant is normally required to do the same.

If you have a break clause in your agreement and would like to use it, you will need to send your notice, in written form, to the landlord or managing agent. Your tenancy agreement will stipulate the address this needs to be sent to. If sending it in hard copy, it is good practice to send an electronic copy too.

If the contract does not have the option to break early but you still need to leave, you should discuss the issue with the landlord or agent and they may be willing to release you from the contract

Third of generation Z think landlords should change their light bulbs.

A study, conducted by broadband and utilities provider Glide, surveyed 1,000 tenants who are either currently renting a property, or have previously, to find out which issues they expect their Landlords to be responsible for dealing with.

And one in seven (14%) say they’d leave a dispute over how to split bills with flat mates for their landlord to sort.

However, expectations that landlords will step in is not confined to just arguments over who pays what in terms of bills. Almost a quarter of tenants (23.2%) admit they would leave a dispute over parking up to the owner of the premises to resolve.

Although landlords are legally bound to solve certain problems that arise both inside and outside the property for renters, where and when those responsibilities pass over to the tenant can often be unclear.

Over a third of under-25s – sometimes referred to as generation Z – believe that landlords should be responsible for changing a light bulb (34.6%). Despite a significant number of younger renters having this expectation, this is generally an obligation of the tenant, unless specified otherwise in the terms of each individual rental agreement.

With modern society now hinging largely on being online at all times, this is reflected by the attitudes of tenants towards their internet connection, with over one in five (21.9%) tenants believing their landlord should be responsible for fixing their Wi-Fi.

Because of its prominent role in the home buying/renting process, it’s important for buyers or tenants to understand what a credit score is, how it’s compiled and how to obtain their credit report.

Buying or renting a new house can be stressful enough without nasty surprises such as a poor credit rating slowing things down, especially when it may be easy to improve if you know about it in advance. 

When choosing to rent, letting agents and landlords want to know you are credible and can pay your rent on time. An easy way for them to check this is to look at your credit report. If you know your score in advance, you can plug any holes in your credit history, consolidate any debts and help make sure you get the home you want.

Homebuyers are subject to similar scrutiny. Each time you apply for a mortgage (or any other credit like a loan or credit card),it leaves a record on your credit report. Lenders and mortgage

A House in Multiple Occupation, which forms part of the Housing Act and may apply to the Landlord and Tenant Act, is any property that houses two or more ‘families’, who share communal facilities such as bathrooms, gardens, stairs, corridors and kitchens. An example may be a house which is accommodated by several students who share kitchen and bathroom facilities.

Determining who is responsible for cleaning the communal areas in a HMO can, surprisingly, be a bit of a tricky issue.

What does the Regulations say?

 

Here’s the first section of The Management of Houses in Multiple Occupation (England) Regulations 2006 says about maintaining common parts:

7.—(1) The manager must ensure that all common parts of the HMO are— (a) maintained in good and clean decorative repair; (b) maintained in a safe and working condition; and (c) kept reasonably clear from obstruction.

So, it clearly states it is the manager’s (i.e. the landlord) responsibility to maintain common parts “in good and clean decorative repair”, which is always the case.