Owning rental property can be an exciting and prosperous venture, but it's also a minefield of legal obligations and administrative headaches. Navigating this landscape alone can be incredibly risky, and the consequences of even minor oversights can be devastating. That's why having a competent property management agent by your side isn't just a convenience – it's an absolute necessity.

 

You might think you're saving money by managing your property yourself. You might even feel confident in your understanding of landlord-tenant law. But the truth is, the regulations are constantly evolving, and even seasoned landlords can get caught out.

 

One of the most critical areas where a competent agent proves their worth is in ensuring full compliance with all relevant legislation. Did you know that you can't serve a valid notice on a tenant if you don't have the correct compliance in place? Simple mistakes can have massive repercussions.

 

One crucial aspect of compliance centres around providing a comprehensive move-in pack for tenants. Whilst not always called a 'move in pack', agents are obliged to provide copies of, amongst other details, the Gas Safety Check, Energy Performance Certificate, Electrical Installation Condition Report, and the Government issued How to Rent guide. Not only is this crucial at the start of the tenancy, but it is equally important to ensure that the tenants are provided with a copy of any renewed certificates that are completed during their tenancy.

 

Let me set the scene with an example:

 

Imagine an agent who, in their eagerness to get a property let for a landlord, overlooked the importance of including the compliance checks (GSC, EPC, EICR and How to Rent guide) in the incoming tenant's move-in pack, from the very first day of the tenancy. Years later, the landlord finds themselves in a difficult situation with a tenant who has stopped paying rent. They decide to take the tenant to court to regain possession of their property.

 

However, during the court proceedings, it was also discovered that the initial gas safety certificate was invalid. The consequences? The court rules that the landlord's notice to quit is invalid, effectively allowing the tenant to remain in the property indefinitely without paying rent.

 

And it doesn't stop there. To add insult to injury, the landlord is now facing a substantial compensation claim from the tenant for pursuing legal action without the correct paperwork. In some cases, these claims can reach upwards of £10,000!

 

Whilst many agents and landlords would hopefully never encounter this scenario, it's a very real-world example of what happens when self-managing landlords, and incompetent agents, fail to adhere to compliance regulations. A competent letting agent would have ensured that all necessary certificates were in place from the outset, preventing this costly and stressful situation.

 

So the question is, why take the risk? The cost of a competent letting agent is a small price to pay compared to the potential financial and emotional burden of legal battles, unpaid rent, and compensation claims. Investing in professional property management provides peace of mind and allows you to enjoy the benefits of your investment without the constant worry of compliance issues.

 

If you're a self-managing landlord, or currently using an agent you suspect may not be as competent as you deserve, feel free to get in touch with our Lettings Manager, Jake. With just 5 minutes of your time, we can help show you how professional property management should be.