As a landlord, you are obliged to ensure that you have a valid Gas Safety Record (renewed annually) and that electrical equipment – including wiring – is safe. All work must be carried out by appropriately qualified and registered engineers.
When letting your property as furnished, you must also ensure that upholstered furniture complies with safety regulations.
Landlords must provide Buildings Insurance for their properties. If your property is Leasehold, this may be included within your service charge. In all cases, you are legally obliged to let your insurance company know that you are letting the property, (otherwise you could invalidate your cover).
Houses in Multiple Occupation (HMOs).
Do any of your properties have at least three storeys and is occupied by five people or more? If this is the case and two or more households live there, you will need a local authority license before your property can be let. You must also ensure that a Fixed Wiring Test takes place every five years.
You are legally obliged to declare rental income to Her Majesty's Revenue and Customs, (HMRC). We recommend that you obtain independent financial guidance about this. If you live outside of the UK for more than six months of the year and we collect the rent on your behalf, we are required to pay basic
rate income tax from your rental income to HMRC. This may be avoided by gaining an approval number from HMRC.
We put our customers first: every single time. At JTM Homes, our business isn’t about achieving targets; it’s about people. We find the right tenants for Landlords’ properties, ensuring that the whole process from initial instruction to on-going management runs smoothly and efficiently.
“Getting this right has given us long standing clients and a successful business built upon referrals and repeat business,” explains Jason Dyer of JTM Homes.
/Contact-JTM-Homes-North-London-estate-agentTo find out more, talk to JTM Homes.