Discover your tenant’s ability to pay their rent.
Landlord have many responsibilities to their tenants.
Becoming a landlord can be due to a number of reasons like an extra source of income, or inheriting a house so you have become an accidental landlord. There are responsibilities that your role as a landlord comes with.
There are many things to do when preparing for a tenants to move into a property.
Background checks give you an overview of potential tenants and there are a number of ways that you can protect yourself and the property with insurance policies.
The most important aspects are making sure the property is safe and complying with legal requirements. There are quite a few but it’s essential to ensure you are not acting illegally.
Check immigration documents and confirm they have indefinite leave to remain, and keep copies.
Official contract that gives the tenant the right to live in your property.
Include dates, duration, payments and required notice periods.
Landlords must protect tenants deposits within 30 days of receiving the funds with tenancy deposit protection (TDP)
Provide buildings and landlord’s contents insurance.
Standard home insurance won’t provide the protection as there are risks that home insurance policies aren’t designed to cover.
Gas equipment and appliances must pass an annual safety check by a Gas Safe registered engineer.
Provide a copy of the gas safety check to your tenants within 28 days of the check being completed.
EPC Indicates how energy efficient the property is and must meet a minimum rating of E.
Find a local accredited assessor.
Registered electrician to inspect that all electrical appliances, sockets and lights are in good working order.
Not legal requirement but lessen chances a potential dispute over deposit.
Both tenant and landlord signed and dated to ensure that both are in agreement over the condition of the property.
Does the running of your business include several repetitive tasks? If there’s no guidance or procedure in place, it’s possible for some of the steps in the process to get forgotten. This is why checklists are important.
People get distracted, and when something gets forgotten, it’s much harder to recover than if they’d completed the task right in the first place.
Guidance every step of the way makes sure something is completed perfectly every time.
Read More: Why is a Checklist Important?
We all carry enormous knowledge and experience that we want to apply effectively, but we are all prone to make mistakes. There’s only so much we can store in our heads without forgetting something. How to maximise our use of knowledge?
The simple answer to this problem is to use checklists.
How many types of checklists are there? Two. What are the two types of checklists? Read-Do and Do-Confirm checklists are about how you use checklists.
A checklist is a way to document each step needed to complete a task. A detailed set of instructions, a guide of how something is done.
Checklist software allows you to document every step of a process to be used over and over again.
Read More: Checklist Software