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British landlords who rent out property as a secondary form of income are at great risk of putting themselves in danger of prosecution because nearly half aren’t using property professionals for advice on compliancy and tenancy management.
According insurance provider, LV=, over half of landlords decide to rent out their former residences unexpectedly due to change in circumstances. This type of ‘part-time’ landlord can often be at risk of non-compliance, which can then have some serious consequences.
It has come to light that not all these landlords are following regulations, say LV=. Nearly half a million landlords have not had their gas safety checks updated by a registered engineer, within the last year. These non-compliant landlords can face fines as well as prosecution. Regardless as to whether landlords are renting out one or several properties, they must ensure they are compliant with up to date legislation.
Legal advice to these landlords is a necessity. Legal representative can ensure their clients know of all their responsibilities for the upkeep of their rental properties, including possible damage and claims that can be made to near or adjoining properties. Not only can tenants make a claim against the landlord if injury is caused as a result of the condition of the property, neighbours who have had their home damaged could also make a claim against them.
For further advice in relation to compliance please contact EHL Group on 0116 266 5394.