If you are considering becoming a landlord, you need to keep in mind that there are lots of responsibilities and regulations that you would have to comply with.

Before you become a landlord, you will have to make sure that the property you are going to rent is in a good condition; indeed you need to make sure that the plumbing, the electrical, and the heating systems are all working fine. There are a number of tasks that you will have to complete very often as a landlord; here are some of the responsibilities that you should anticipate:

First, you need to find your tenants to fill the property; Most of the time, you will need to advertise online, in newspapers and in magazines that you have a vacancy. Once you have found your potential tenant you need to try to get some background information in order to see if the individual pays their bills regularly or not.

Second, collecting rent: Throughout the tenancy, you will have the responsibility of collecting rent from the tenant. As a matter of fact, you will have to implement a specific rule about when the payment is considered late and what would happen in case of lateness. For example, you might charge a late fee after 3 days.

Third, maintenance: Repairs to the structure and exterior of the property, heating and hot water installations, basins, sinks, baths and other sanitary installations. Safety of gas and electrical appliances such as the fire safety of furniture and furnishings provided under the tenancy, according to directgov.uk.

Fourth, moving out: Whenever a tenant moves out, you will have to assess the property for damage. You need understand the difference between “normal wear and tear and excessive abuse”, according to the website. If the property is in good condition, you will need to return the tenant’s security deposit.

On the other hand, the tenant is responsible for paying the rent as agreed and taking proper care of the property as well as paying bills for gas, electricity, telephone, etc if this was agreed with the landlord.

According to the Directgov.co.uk website “Whether you are a landlord or tenant, it is vital that you are aware of your legal rights and obligations. The law protects both parties and does not permit you to “take the law into your own hands”, irrespective of circumstances. It is important that landlords fully understand their obligations. The Disability Discrimination Act, Sex Discrimination Act and Race Relations Act also apply to anyone letting, selling or managing premises. If you are in doubt about anything seek legal advice.”

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