Our back to school guide to lettings
The new term has started and families across the country are starting to get back into a routine. Landlords, we know how quickly things can change or become confusing, so we have put together our back to school guide to lettings.
First day jitters
The first day of anything is a mix of emotions; from excitement to nerves, we have no idea how the year will unfold. The same can be said for every new tenancy, which is why it’s important that you do everything you can to ensure you have chosen the right tenant. Remember those who look best on paper may not necessarily be the best choice for you.
No one wants to find themselves falling foul and landing up in detention, especially at the beginning of term. But if you’re letting a property and haven’t registered with Rent Smart Wales, you will find that a detention would be far preferable to the penalties you could be vulnerable to.
We know many of you are still confused by the Rent Smart Wales criteria, so please make sure you read our recent article, or come and chat to a member of our lettings team, who will be more than willing to explain the scheme to you.
As the colder weather approaches we embrace our home comforts, such as central heating and wood burners. There is nothing like snuggling up in front of a fire whilst the wind and rain batter your windows. Yet there will be no joy for those tenants who suffer due to a broken or faulty boiler when the winter chill hits. Before they get to be too busy, organise a service on the boilers in your properties to prevent expensive call outs in the weeks to come.
The alarm sounds, and we all move in an orderly fashion to the nearest exit. Although drills get tiresome, they prepare us for a time when we might find ourselves in an emergency situation. We know your tenants’ safety is a priority for you, so there is no harm in reminding them to check their smoke and Co2 detectors. A quick check or a change of battery could prevent a disaster from happening.
Make the grade
What is the EPC rating of each of your properties? If they are graded below an E, you need to do some work to ensure they meet the new minimum requirements. Should you be letting a new property or about to start a tenancy, it is now a requirement that your property has an energy efficiency rating of E or above.
You can find more details and the eligible improvements listed here. It’s also worth noting that it’s expected that the rating will rise in the future, so if you are making improvements you should aim to raise the grade higher than an E to prevent the need for further works or void periods further down the line. If costs are incurred to make such improvements then you can obtain an exemption.
One thing we can all agree on is that when it comes to lettings you have to get used to things changing. This is why it’s worth keeping in touch with your local branch of Bidmead Cook, even if we don’t manage your property. We can talk through any concerns you have, clarify new legislation, and ensure you comply with any changes in regulations.
Keeping up to date with what’s involved in letting a property is an ongoing process, and one which every member of our team continues to undertake. Whether through industry training, or individual study, knowing your responsibilities is an essential part of being a landlord.