Are you protecting young tenants?
As a landlord in the PRS you’ll understand more than anyone the growing need for rented accommodation for the younger generation, namely students. CEO of the flat sharing website ‘Weroom’ has recently stated that ‘deposit disputes are becoming an inevitable part of the rental experience’, especially for students and young renters. Unsurprising new research has also revealed that property maintenance and damages are the most common causes for disputes between landlords and their student tenants. Weroom.com also found that out of the 330 – 18 to 24 year olds that they surveyed:
Do you house young tenants?
With so many students and budding renters looking for their next home in the PRS, it is critical that you make them aware of their rights from the start. Student housing can be a very lucrative market, what with university life becoming more of a once in a lifetime opportunity in the UK than ever before. Not forgetting the increasing amount of young families out there looking for their next home in the PRS too. As a landlord your main objective is to keep your tenants happy, meaning that they will stay for as long as possible with you.
By law you must:
Deposit disputes should not be an ‘inevitable part’ of the rental experience in this day and age, we hope you agree? At Yellow Oak Inventories we believe that the 3 key elements to unlocking and improving the private rented sector right across the UK are: knowledge, professionalism and communication between landlords, agents and their tenants – especially younger tenants. This is why a simple inventory is a vital step in order to properly protect your investment – and that’s why we’d love to hear from you today:
Smoke and carbon monoxide alarm inventory UPDATE
As of the beginning of October 2015 landlords in England are now required by law to install smoke and carbon monoxide detectors? Properly installed and maintained smoke alarms play a pivotal role in reducing fire, death and injuries in privately rented accommodation. And the same goes for carbon monoxide alarms. With almost two-
Although I have noticed consistent news coverage on the subject, the Association of Independent Inventory Clerks are still worried that there is still confusion over who and when such smoke detectors and carbon monoxide alarms should be checked, as well as who does it; the landlord, agent or independent third party?
The standing legal position is that landlords in England, or agents acting on their behalf, are required to install smoke detectors on every floor of their property where a tenant is residing or partially living. Carbon Monoxide alarms must also be fitted in any room of rented accommodation where there is a solid fuel-
However the checking requirement does not apply to renewed or statutory periodic tenancies.
Patricia Barber, chair of the AIIC, announced: “As part of an inventory compilation or check in procedure at the beginning of the tenancy, an AIIC independent inventory clerk will be able to check smoke detectors and carbon monoxide alarms for power where possible and report back any problems found.”
“This then paves the way for landlords or their property managers to carry out subsequent checks during mid-
This is a life and death situation after all, as in essence you have the safety and well being of your tenants firmly in your hands. One tragic story of a family dying in a house fire is one too many for us at Yellow Oak Inventories, so it’s wonderful to see the letting's industry in England embracing this long-
Other than fire alarms, there are other possible issues that can create unrest with the landlord/tenant relationship. So how else can you do to protect yourself and your tenants against potential disputes further down the line?
Take your time!
Many little mistakes that have escalated beyond control have often began as a tiny, overlooked issue.
The AIIC have recently been quoted as stating that a formal tenancy deposit dispute can be diffused by something as basic as simple conversation. At Yellow Oak Inventories we wholeheartedly agree, as its basic common sense that if a tenant contacts their letting agent or landlord to discuss a disagreement, there is a much reduced chance of it heightening to them lodging a formal complaint with one of the 3 deposit protection schemes.
Better to be safe than sorry!
If you’re unsure about something that could be life threatening, then seek help and advice!
As a landlord, at MSB Inventories we believe that your tenants’ safety should be of the utmost importance. Be sure to choose a reputable clerk that will tested your alarms for power (if reachable), visually inspect it and report back to you if there are any issues.
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