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Advise
mortgage provider of change of use to Buy To Let
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Take out
Buy To let House Insurance - we recommend
Rentguard
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Arrange
gas certificate - a legal requirement
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Seriously consider an electric certificate - not a legal
requirement - but minimises being sued for lack of reasonable
care
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Carry out a fire risk assessment and keep notes
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Carry out a hazard assessment and keep notes
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Label
all water isolator valves, remote electic switches, tv and
telephone sockets - draw arrows on nearby surfaces to clearly
identify which way is to turn off.
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Arrange
EPC energy survey (£200 fine if house let without one after
October 2008)
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Take
credit ref checks at least on all prospective tenants - better
to take out full tenant referencing
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Consider
rent guarantee insurance
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Use a
reliable well proven tenancy agreement format
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Check
ID's of tenants prior to signing agreement
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Ask for some proof that
housing benefit is applicable or currently being used with
existing rent
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Do not
sign agreement prior to receiving deposit (cash or in
your bank) - or check that housing aid have approved a bond.
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Do not
hand over keys before receiving 1st months rent (cash or in
bank) - or check that housing benefit is applicable or currently
being used with existing rent.
-
Do a
thorough inventory listing and descriptions with photos and
even videos - this is EXTREMELY IMPORTANT - 2 copies of each
and signed by tenant and landlord (with a 10 day approval
period)
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Make sure smoke alarms are installed (1 up & 1
downstairs at least) and replace batteries in smoke alarms
between tenancies
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Carry out a visual and
polarity check on all electical sockets between tenancies.
-
Physically show new tenants where water, gas and electricity
stop valves / switches are - and to sign a document to say that
they have been shown.
-
Tell the new tenants where
there deposit will be held confirm in writing or that they sign
a document to say that they have been told.
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Make
sure you get the deposit in a government approved scheme within
14 days.
-
Provide
a manual of how everything works, contact numbers etc. Clearly
spell out your position regarding smoking, pets, decorating,
lodgers, required notice to leave etc.
-
Supply a
lawn mower and hedge clippers so there is no excuse to do the
minimum garden maintenance.
-
Carry
out periodic house inspections every 2 - 3 months - and feed back any
problems in writing.
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Promptly
carry out repairs
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Ensure tenant knows that you must have
at least 1 months notice of intent to
quit in writing.
-
Confirm
finish date in writing and that costs will be incurred to clean
and clear rubbish with examples of such possible costs.
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Start
re-advertising as soon as possible for new tenants
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Take
forwarding address of leaving tenants.
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Advise
promptly of any damage other than wear and tear and agree value
of damage or repair work and release agreed deposit from any
tenancy deposit scheme.
