Legal Landlord: Are You One Of Them?

Legal landlord:

Who has more knowledgeable?

The general landlord population or the NLA members?

A research was carried out recently using a questionnaire.

It has lots of common topics that relate to the private rented sector.

It was meant for homeowners.

Besides, the research compared the general landlord population to NLA members.

Well, it was not surprising that NLA members had more knowledge.

These property owners got an average of 7 out of the 10 questions.

The average rating of the general landlord population was 39.16%.

Whereas, the NLA members averaged 65.74%.

Without mincing words, the difference was quite obvious.

This difference can be ascribed to the wealth of information that NLA members got.

They had access to lots of tips for legal landlords and expert advice.

The lack of knowledge could mean a lot of things.

Foremost, it could attract heavy fines and affect the validation of Section 21.

Legal landlord
Section 21

Also, there could be a risk of jail time.

Therefore, we will examine some of the questions.

In the end, is it safe for you not be a member of the NLA?

Question:

How often do you need to apply for a Gas Safety Certificate at your rental property?

Answer: 100% of house owners under NLA got the answer right.

However, only 42.3% of the general landlords got it right.

The right answer to this question was “annually”.

Irrespective of the due date, you must apply for the certification every year.

Legal landlord
Gas safety register

In fact, it must be before the new tenancy of your renters starts.

Consequence: As a homeowner, it is a must for you to have an annual gas safety check.

A legal tip for you is that you must have it each year.

If you fail to do so, you may have to deal with fine or jail time.

Question:

After the new HMO regulations came into force in October, what is the minimum size room you will be able to rent out to a single adult tenant?

Answer: This time, 56% of the NLA homeowners answered correctly.

On the other hands, a poor 13.5% of general landlords did correctly.

The right answer to this question was “6.51 sq. meters for each person above the age of 10.”

Also, any room that is meant for sleeping must be of the right size.

Legal landlord
HMO

Consequence: Local authorities are to ensure compliance with this rule.

However, they offer a period of 18 months from initiation of the rules for homeowners to ensure compliance.

Any legal landlords of licensed HMOs must also follow the necessary local authority waste scheme.

Question:

Under the new GDPR regulations, what document should you issue to your tenants to help ensure compliance?

Answer: A dismal 0.4% of general landlords got the right answer.

Awesomely, a substantial 86% of NLA members answered correctly.

“Privacy policy” was the correct answer to this question.

Legal landlord
GDPR

Consequence: Generally, non-compliance attracts heavy administrative fines.

10 million Euros (or a corresponding value in Sterling) is the maximum fine.

Alternatively, a percent of the sum of annual global turnover in the previous financial year.

This percent is usually higher than the said amount.

The degree of the violation will determine the level of the fine.

Question:

Issuing Prescribed Information when you take a deposit is a vital step. But who needs to receive it?

Answer: Only 5.8% of the non-members got the right answer.

Out of the NLA members, 38.2% answered correctly.

Notably, the right answer was “any individual that contributed financially to the deposit.”

Legal landlord
Security deposit

Consequence: Issuing prescribed information is legally required.

Failure to follow the rules shows that lack of protection for the deposit.

Resultantly, you may need to repay it within 14 days.

Failure to repay can attract heavy fines.

Question:

Answer: Out of the members, 54% answered correctly.

Only 29.1% of the non-members got the correct answer.

The correct answer is “one on each storey”.

Legal landlord
Gas alarm

Consequence: Private property owners may have to pay fines of as much as £5,000.

So, a vital tip for house owners that do not want to pay is compliance.

Question:

In which situation might you use a Deed of Surrender?

Answer: The answer to the question is “enable your tenants to terminate a tenancy agreement early.”

84% of the NLA members got it right. Surprisingly, 95% of the non-members provided the right answer.

As a homeowner, make sure you and your renters terminate the agreement mutually.

Consequence: Without getting a Deed of Surrender, the tenancy has not ended legally.

So, the tenant has the right to come back and continue occupying the place.

The only exemption is if the renter returned the key before leaving.

If you are not sure that the tenant has terminated the tenancy, be cautious.

Taking any step could mean you did an illegal eviction.

Question:

How much notice do you have to give your tenant before you enter the property for a routine check?

Answer: A substantial 94% of the NLA members gave the right answer.

Otherwise, only 9.5% of the non-members provided the correct answer.

The right answer was “24 hours”.

Consequence: Basically, the landlord must send a 24-hour notice to the tenants.

If not so, the Housing Act 1988 allows the tenants to sue them for harassment.

Question:

If you successfully apply for a MEES exemption, how long is it valid for?

Answer: This is another question with a surprising response.

91.9% of the general landlord answered correctly.

Legal landlord
MEES

But just 45% of the NLA members provided the correct response.

Notably, “varies” was the right answer.

The government initiated a new set of rules in April 2018.

Basically, the target of the rules is to enhance sustainable development.

The EPC (Energy Performance Certificate) of property must get at least a rating of E.

If not, renewal or granting of tenancies must not be done in Wales and England.

As from April 2020, this standard must be met by existing tenancies.

Consequence: Failure to satisfy the minimum rating means homeowners may have to pay a fine.

Generally, the fine is £5,000.

Overall, being a member of NLA offers several advantages for legal landlords.

From getting legal tips to expert advice and so on, they can gain a lot.

 

Do you need up-to-date information?

Undoubtedly, Reneza is your reliable source.

We provide useful information and solutions to all real estate issues.

Contact us now!

 

Legal landlord
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