If you are a new landlord entering the private rented sector (PRS), there are a number of steps you need to take to ensure your property is ready to go on the market and compliant with all relevant legislation. 

The following are some of the most important tasks you need to take care of before you start searching for tenants. If you’re unsure of your responsibilities, particularly with the forthcoming introduction of the Renters Rights Bill, it is worth engaging with an experienced letting agency to make sure that you have everything in order. 

Ensuring your property is of a good standard

Landlords are legally obliged to ensure their property is fit for human habitation and safe – which the vast majority of course are. However, there are a number of certifications required to prove the safety of your property and not having any of these in place could lead to significant fines. 

The most important ones to tick off are:

• Gas safety check: This needs to be carried out by a Gas Safe-registered engineer who can certify that all the gas appliances in your property are working as they should.
• Electrical installation condition report: This is a certification you need to refresh every five years, which verifies that any electrical appliances in your property are safe and that the wiring and sockets are in good order. A qualified electrician needs to carry out the inspection. 
• Energy performance certificate (EPC): All properties need to have a minimum EPC rating of “E” to be eligible for rental. It’s worth getting this checked early on, as this will give you time to carry out any work if the property isn’t as efficient as it needs to be.

Fire safety

You need to ensure there is a working smoke alarm on each floor of your property, as well as that there is a carbon monoxide alarm in any room where there is a coal or wood-burning stove (or any solid-fuel burning appliance).

If you’re planning to furnish the property, all the items you include for your tenants need to be fire safe. 

Decorating

While not essential, it can be beneficial to give your property a fresh coat of paint and perhaps replace any worn carpets or scuffed flooring to make it more appealing to tenants. The nicer you can make your property, the easier it will be to rent out and the more likely you are to achieve a higher level of rent from your tenants. 

When you work with a lettings agency, they will be able to advise you on how best to decorate your rental property. Generally speaking, neutral tones are recommended as this looks clean, light and is easy to touch up when your tenants move on. 

Set up a tenancy agreement and deposit protection account

This is another area where your letting agent can provide support, as they will be able to advise you about what is appropriate based on the introduction of the Renters Rights Bill, as well as based on what’s currently required under law. 

You are allowed to ask your tenants for a deposit, but this money must be kept in a government-approved deposit protection scheme. This protects both you and your tenant by providing a free dispute resolution service in the event that you and your tenant disagree about how much of their deposit should be returned at the end of their tenancy.

These are among the most important steps for new landlords, but this isn’t an exhaustive list. We would recommend working with an experienced lettings agent to reduce your stress and to ensure that you are compliant with all relevant legislation.