Are you currently seeking buy-to-let property for sale, with the view to becoming a landlord? Renting accommodation to tenants is a lucrative way to earn a regular salary; however, it’s common to be concerned about the legalities involved.
It’s important to note that, whilst you have responsibilities towards your tenants, you have rights as a landlord too. Here’s a quick guide to landlord rights in the UK.
Property Investment Opportunities – Your Rights as a Landlord
- Right to repossess. When investing in property in the UK, you may be concerned about what happens if your tenants behave badly. What are your rights if they don’t pay, or if they leave the house in a terrible state? Fortunately, the law protects you in both these incidences. You have full right to repossess the property if your tenants fail to pay the rent for 14 days or more. Likewise, if they breach the terms of your tenancy, you’re legally allowed to repossess your house.
- Right to receive rent. The law recognises that this is a business venture for you – and supports your right to receive rent on the date it’s due. This date needs to be specified clearly in the tenant contract for it to be legally standing. You’re also legally allowed to collect all overdue rent payments from your tenant.
- Right to enter the property. The property is legally yours, and as a result, you have the right to enter the property whenever you want. However, the law also respects the rights of the tenant, and as a result, you must provide the tenant with fair and reasonable notice of when you’re planning to visit. In most instances, this is 24 hours or more.
- Right to receive notice. Your tenant has a responsibility to give you notice, according to the agreed terms in the contract, when they’re planning to move out. Even if they choose to move out before the notice period is complete, they’ll still need to pay you rent. Exact notice periods vary from contract to contract, but are generally one or two months.
- Right to evict. If your tenant has broken any terms within the contract, or damaged your property, you have the right to evict them. Of course, it’s always preferable to try to resolve the situation amicably, but the law is on your side if your tenants aren’t respecting your property or your rental contract.
The Buy2Let Shop Limited
It’s useful to know that you’re legally well supported when you invest in buy-to-let property for sale. If you’re looking for property investment opportunities in the UK, talk to The Buy2Let Shop. We’re a team of professional property investment agents in London, and we’re here to help you find the right buy-to-let property for sale to match your requirements.
We’ve got a number of properties on our books that aren’t available on the general market, and we also offer assistance with buying a house at auction. Additionally, if you’d like help brushing up on your market knowledge, we host regular property investment seminars in London – designed to bring your know-how of the industry up to speed.
To find out more about The Buy2Let Shop’s range of services, simply visit our website today.