One would think that landlords are always in the better position when contracting. However, being a property owner has its risks and it can be difficult to handle them when you are a beginner in this type of transactions.
Property Division made a guide of 12 questions every landlord should ask themselves at one point:
1. Should I Tell My Mortgage Lender I’ll Be Letting My Property?
2. What Is the Right to Rent?
3. Should I Register the Deposit?
4. How Can I Prevent Property Fraud?
5. Is the EPC Mandatory?
6. Do the Gas, Electrics and Furniture Need to Be Compliant?
7. Is an Inventory Worth It?
8. Do I Need Insurance?
9. Do I Have to Pay Council Tax and Income Tax?
10. Can I Make Routine Property Visits?
11. When Should I Do an Inspection?
12. Who Should Contact the Council and Energy Suppliers?
Read the answers carefully and you are sure to have some more questions at the end of the article, if you are a landlord. But at least you know what to start with.