Tenant Fee Ban
It’s been a long time coming but finally the Tenant Fees Act 2019 hits us on 1st June. The Act is designed to protect tenants from having to shell out large sums of money at the beginning of a tenancy in administration fees and high security deposits. Here at Green Door we have spent a lot of time in making sure we understand the Tenant Fees Act 2019 so that we can advise our landlords and partner agents accordingly of the impact that this is going to have. The Act is much more complicated than just no longer being able to charge tenant fees! There are caps on security deposits depending on the annual rent amount, caps on holding money payments and limitations on how long these can be held for. Tenancy Agreements have been updated as have our landlord’s terms and conditions of business. We have also found alternative options to the capped security deposits to ensure our landlords and tenants have a variety of products to meet their needs. This includes Deposit Replacement Insurance, Property Damage Protection and Tenant Liability Insurance.
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ARLA Propertymark members
As a member of ARLA Propertymark, Green Door work to a higher standard than the law demands. We are backed by a Client Money Protection (CMP) scheme and have experienced and trained professionals who are required to undertake regular training to keep up to date with complex legislative changes and best practice. We are members of a Government approved independent redress scheme and have to submit independently audited financial accounts to ARLA Propertymark each year. Our membership has just been renewed for another year so we are all set and raring to go!
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Client money protection
The Government has committed to requiring all property agents in the private rented sector to obtain membership of an approved Client Money Protection Scheme by 1st April 2019. CMP is a compensation scheme which recompenses landlords and tenants should an agent misappropriate their rent, deposit or other client fund. This is great news for the industry and offers protection and security to landlords and tenants. Outsourcing to Green Door means that this is already taken care of for you as we handle all client money on your behalf.
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Landlord benefits
Did you know a lot of letting agents and property management companies charge extra for providing support out of normal office hours? Not here at Green Door! Our out of hours service is included as standard for all our managed landlords. This means no hassle for you at unexpected times of the day or night from a troublesome tenant who has locked themselves out or have no heating. This is all taken care of!
Green Door work with one of the industry-leading insurance companies and as a result have a whole host of insurance policies which offer great protection for landlords. These include Rent and Legal Protection Insurance, Buildings and Contents Insurance, Property Damage Protection Insurance and Deposit Replacement Insurance.
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Welcome Nicola!
Green Door is kicking off 2019 with a flying start and announcing the arrival of our fourth team member and fellow Director, Nicola! Nicola has extensive experience and knowledge in the lettings industry and previously worked at a law firm so knows how to dot all the I’s and cross all the T’s! Nicola is a great asset to the Green Door team and we are going to achieve great things in 2019.
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Busy bees!
We’ve had a busy December so far at Green Door. We celebrated our 6 month anniversary on 1st December with a cake and some candles! Over the last 6 months we have welcomed on board great new customers, taken on another team member and are so excited to see what 2019 brings for us! We’ve also been busy elves delivering Christmas gifts to those lovely clients who have given us a chance to show what a cracking service we provide. We would like to wish everyone a Merry Christmas and Happy New Year!
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Welcome Val!
We are pleased to announce the newest member of the Green Door has arrived! Val has worked in lettings, property management and most recently block management. She brings a wealth of knowledge and experience with her and we are so excited to welcome her on board! Green Door really is going from strength to strength!
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Autumn is upon us
With autumn upon us and the colder weather setting in, properties can need a bit of extra TLC with the change in temperature. Green Door is always ready and waiting whatever time of year it is with our trusted team of contractors to get problems fixed. With another 5 star review under our belt from a happy tenant, it shows what an excellent service we provide.
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3 month anniversary!
It’s 3 months today since we went officially “live” with Green Door and what a 3 months it has been! All the hard work and preparation is paying off and we are seeing the rewards already. We are so proud of what we have achieved so far and we are so excited with what we still have to come! We’ve only got a few reviews so far but we think they speak for themselves about our customer service which is at the heart of what we do. We go above and beyond to help our customers and we provide the best service! Try us and see for yourself!
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Landlord Top Tips
Are you already a landlord or considering becoming a landlord?
For property owners who decide to become landlords and rent out their property, there are more and more things to think about and have in place to ensure you comply with legal and safety requirements.
This also applies to estate agents are venturing into the world of lettings. Who have limited rental experience, there is such a big responsibly to know all the current legislation.
That’s where having an experienced, knowledgeable team behind you is so important. Green Door have years of experience in the lettings and property management industry. We are members of ARLA Propertymark amongst other affiliations So you can be sure that you are in safe hands.
Take at look at some of the top tips for landlords when renting out their property
Landlord License
First and foremost, you need to check if you need a landlord license from your local council before your property can legally be rented out. This legislation was introduced in 2006 with the main purpose of ensuring landlords maintain their rental properties to a good standard.
Tenant Referencing
As a landlord, you will need to rigorously reference new tenants to check they are reliable and will be able to meet rent payments each month. These include credit eligibility, employer checks and previous landlord references.
Most importantly, landlords must check that their tenants have the right to lawfully live in the UK. Failure to undertake a Right to Rent under the Immigration Act 2014 can result in a fine or even a jail term, so it’s important they are conducted thoroughly.
Tenancy Deposit Protection (TDP)
If you take a deposit from your tenants you must protect it in one of the Government-authorised Tenancy Deposit Protection schemes. There are three available – Deposit Protection Service (DPS), MyDeposits or the Tenancy Deposit Scheme (TDS). You will need to protect the deposit within 30 days of receiving it and provide the tenant with both the Deposit Protection certificate and completed Prescribed Information.
Failure to do so could result in you not being able to evict your tenant plus the full return of the deposit and a fine of up to three times the value of the deposit.
Energy Performance Certificate (EPC)
You must serve your tenants with an Energy Performance Certificate. As of the 1st April this year, your property must be at least EPC band E before letting it out. If you’re caught arranging a new let without ensuring your property is up to these standards, you could be fined. In addition, since the 6 April 2018, you could be banned from managing your property for breaching a number of laws about how you manage your rental property. This means your local authority would take control of your property, and collect the rent. But you would still be liable for the mortgage and any costs such as repairs.
Safety checks
As a landlord, you are responsible for ensuring the property is safe for your tenants, and as a part of this, you are legally required to get all gas appliances checked by a Gas Safe registered engineer every year. You must then provide tenants with a Gas Safety Certificate within 28 days of the annual check taking place.
In addition to this, fire alarms should be fitted on every storey of the property from the start of the agreement, and carbon monoxide detectors must be in any room where solid fuel is used – both alarms have to be tested on the first day of the tenancy.
Written tenancy agreement
A tenancy agreement is a document between tenant and landlord that sets out the terms of the tenancy.
Although written agreements aren’t a legal requirement, it’s best practice so both the tenant and landlord are clear on what their rights and responsibilities are.
Regular inspections
It’s important to undertake regular inspections of the property, although remember that you cannot enter the property without the tenant’s permission as this is classed as trespassing and is illegal.
It’s best practice to grant them 24 or 48 hours’ written notice, and this should be stipulated in your tenancy agreement.
Landlord insurance
If you do not inform your buildings insurer that you’re renting your property out, you risk invalidating your policy. Most standard buildings insurers don’t provide the protection you require as a landlord, so it’s worth taking out specialist landlord insurance. A good policy will cover loss of rent, damage, legal expense and liabilities.
Get the property rental ready
If you are offering your property as a furnished home, think carefully about what you can provide. Remove anything valuable or sentimental – aside from the fact they’re at risk of damage, it can be off putting for tenants to rent a property that is filled with someone else’s belongings. You should also think about the type of tenants you want; if you’re hoping a family will move in for a few years, they may have their own furniture already and therefore won’t want your stuff. However, if you’re renting to university students, it’s highly unlikely they’ll have accumulated enough belongings to furnish a house. Regardless of who your tenants are, before anyone comes to view your property, make sure it is clean, tidy and you have completed any modernisation or DIY projects.