Landlord Information

The landlord’s task is not a simple and straight forward one. Many property investors who venture into buy-to-let can often be put off by the sheer volume of work which is involved in letting a rental property and then subsequently managing the property. The landlord has to ensure that the tenant is referenced, the necessary insurances are in place, statutory requirements are fulfilled and complied with, the correct documentation is used and deal with much more. It has become more and more common for a landlord to reply on the services of a letting and managing agent.

The landlord is investing in a professional relationship hopefully over a long period of time so it is vital that he carries out due diligence.

• Check if the agent belongs to a professional body.
  
• Does the agent have Client Money protection in place and does the agent carry the relevant insurances – Professional
• Indemnity & Public Liability.
  
• Has the agent invested in professional development and completed training courses.
  
• Does the agent have strong procedures in place?
  
• How does the agent keep up to date on legislation and matters affecting the private rented sector?
  
• Do the contractors employed by the agent belong to professional bodies?
  

Contact the Guild of Letting & Management for additional information.