Landlords and Tenants both have responsibilities under the Residential Tenancies Act of 1985.

Landlord's Responsibility:

Disclosing sufficient information to the tenant

This includes tenants, having access to the Landlords’ name, contact number, and address. If the landlord has their property managed by a managing agent, the tenants can require that address too. This information must be shared with the tenant, in a written form within 21 days of the information being requested.

Failure to comply with these requests, without a reasonable excuse, can result in the landlords being convicted of a summary offence and can be fined.

There are also a number of documents which Tenants must be provided with. This includes a signed Tenancy Agreement (and Addendum where necessary), signed Prescribed Form, valid Gas and EPC certificate, DPS terms and conditions (if their deposit is protected through DPS), and a How to Rent Guide.

Following Health and Safety Standards

All gas and electrical pieces of equipment are stored safely, checked, and tested by qualified personnel, annually. Failure to do so puts Landlords at the risk of any insurance becoming invalid, fines up to £6,000, six months in prison, court action from a tenant who has grounds to sue for civil damages, as well as manslaughter charges in the unfortunate case of tenants dying due to unsafe gas equipment.

Provide a valid Energy Performance Certificate when advertising the property for selling or letting. It is against the law to advertise the property without one, leaving landlords at risk of being fined £200 after being reported to your local Trading Standards Office. Any ratings below E, are not accepted and changes must be made to the property to ensure the rating can increase.

Health and Safety Inspections

The Housing Health and Safety Rating System (HHSRS) is used by councils to make sure that properties, where residents live, are safe.

These inspections can be carried out because they were requested by tenants or if they carried out a survey of local properties and believe yours to be hazardous.

If serious hazards are found, the council can issue an improvement notice or carry out the improvements themselves then bill Landlords for them.

Protecting Deposit Monies

Protect your tenants’ deposit in a government-backed scheme. Since the 1st of June 2019, landlords are only allowed to hold a maximum of 5 weeks’ rent as a deposit. Holding any more or not protecting the deposit under a government scheme, within 10 days of the payment being made, can also lead to a claim of up to three times the deposit amount.

Right to Rent

Landlords must also ensure that tenants provide sufficient evidence to prove that they have the right to rent in the UK. This includes certification or registration/ naturalisation as a British Citizen or a Home Office Immigration Status Document.

Financial Responsibilities

landlords must pay income tax on your rental income. (Minus any day to day expenses)

Landlords must pay Class 2 National Insurance if renting out properties you own, counts as a business. Renting out properties can be considered a business if it is the landlord's main job, if landlords rent out more than one property and if landlords are buying new properties to rent out.

Payments for Class 2 National Insurance can be made voluntarily if rental income is less than £6,475.

Being a landlord comes with a lot of responsibility and inevitably a lot of stress. Kronos Estate Agents want to ensure that Landlords can benefit from their job as much as possible, without having to face the challenges that come with it. We can provide a service of full management so the only thing Landlords have to worry about is signing a tenancy agreement at the beginning of a tenancy. Call us today on 020 8004 4477 or get in touch via email atinfo@kronosestates.co.uk to enquire more about our services.