Paul Georgian Owner

The Buy2Let Shop Limited

The Buy2Let Shop Limited is a property investment company based in London UK and deals with investors at novice/beginner level or advanced property investors. We offer professional services to vendors looking to sell their home to investors looking to build their portfolio.
The Buy2Let Shop Limited South Tower, 26 Elmfield Road Bromley BR1 1WA
020 3837 3300
27 January 2016
27 January 2016,
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When investing in property in the UK as a landlord, your main priority will be ensuring that your money makes a good return – ideally providing an income for many years to come. The thriving rental market means that this is a very real opportunity. However, it’s important not only to focus on profits, but your responsibilities as a landlord.

Before you start searching the market for buy-to-let properties for sale, here’s a quick guide – outlining the responsibilities involved.

Landlord Responsibilities

1) Property safety. As a landlord, you have a responsibility to your tenants to provide safe accommodation. Your residential property should be compliant with fire safety regulations, plus the electrical and gas systems, including internal wiring, flues and pipe work, should all be in full working order.

 In order to ensure your property is fully up-to-scratch, you’ll need to hire the relevant specialists to conduct an assessment and carry out repairs where necessary. You are also required by law to install smoke alarms on every inhabited storey of the property, plus carbon monoxide alarms in rooms which contain ‘solid fuel appliances’. (This includes coal, wood etc.)

2) Gas appliances. All gas appliances must be safe to use and regularly maintained. As a landlord, it’s also your duty to have them checked annually by a Gas Safe registered engineer. After each yearly inspection, make sure you’re given a copy of the Gas Safety Certificate, and note that your tenant will also require a copy.

3) In addition to the property itself, certain furniture within the property must comply with fire safety standards. This includes beds (and mattresses), sofas, nursery furniture (e.g. cots), soft furnishings such as cushions, garden seats, covers for furniture, futons and garden dining sets. If you’re not sure whether your furniture needs to be fire resistant or not, speak to your letting agent, who can offer advice.

4) Electrical safety. All electrical equipment should be safe for use, including plugs and sockets. Although there are currently no legislations in place requiring landlords to have electrical equipment formally inspected, it’s the responsible course of action – and your tenants deserve a safe place to live. An electrician will be able to test all electrical appliances, plugs and sockets on your behalf.

Buy-to-Let Property for Sale – Additional Notes

You’ll also need to be aware of the following:

  • In order to let a property, you’ll need to obtain permission from a number of people. This includes: your mortgage lender, your insurance company, your partner (or anyone else who may have rights to occupancy) and any other association or body that has regulations applying to your property.

 

  • Depending on where you’re investing in property (UK), you may find you need a landlord license. Certain areas require this license due to the low housing demand in the region, or other issues, such as anti-social behaviour problems. If you don’t get a license in these areas, you could be fined as much as £20,000.

 

  • You will also need to obtain an Energy Performance Certificate, which you must legally provide a copy of to each of your tenants. This enables your tenants to work out how much they’ll need to spend each month on heating etc. Your EPC is valid for 10 years, then needs to be renewed.

The Buy2Let Shop – Property Investment UK

If you’re looking at buy-to-let property for sale, but aren’t sure where to start, The Buy2Let Shop can help. We’ll offer advice on investment properties for sale, assist you with buying a house at auction, and our services even include property investment seminars – to ensure you’re equipped with the most up-to-date property knowledge.

If you’d like to find out more about our services, simply visit our website today.

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