Page 6 - John Payne Letting Guide

PREPARING YOUR PROPERTY TO LET... the legal essentials
Our experienced lettings team will provide the latest information and guidance to ensure you meet all your legal obligations as a Landlord.
CONSENT TO LET
It may be that your property is mortgaged to a building society, bank or other lender. If so, the mortgage deed will almost certainly require the written consent of the lender to be obtained before you let the property. If your property is mortgaged, you should apply for consent. Lenders will not deal with us in relation to the mortgage; you will therefore need to fill out their application form, though we would be happy to help and provide any information necessary. Occasionally, it will be a condition of consent to the proposed letting that your mortgage interest rate is increased and it is therefore advisable for you to approach your mortgage lender at an early stage to see what the financial consequences are likely to be. Some lenders also charge an administration fee.
If the property is leasehold, you may also need consent from the freeholder or management company, which might involve paying them a fee and complying with special conditions.
ENERGY PERFORMANCE
CERTIFICATE
All properties for rent must have an Energy Performance Certificate (EPC) before any marketing or viewings
can take place. An EPC rates energy efficiency and its environmental impact and is valid for ten years for rental properties. A copy of the EPC must be made available
to tenants before entering into a tenancy agreement.
If you do not have an EPC for your property, John Payne Estate Agents can arrange an assessment for you.
To comply with the Minimum Energy Efficiency Standard (MEES) the EPC rating has to be an ‘E’ or above. If the property has a rating of either ‘F’ or ‘G’ then unless there is a valid registered exemption, or an EPC is not legally required, the property cannot be let.
BUILDINGS INSURANCE
We always advise landlords to make sure that the property and its contents are adequately insured (unfurnished properties may still have contents such
as curtains, white goods etc). It is extremely important that you advise your insurance company that you are proposing to let your property and that you confirm to them once this has been done. Failure to do so could result in you losing insurance cover. Some insurers impose letting conditions and we would require details as this may affect the choice of tenant. If your insurer is not happy with you letting the property, we can introduce you to companies that specialise in insurance for the rental market.
HOUSES IN MULTIPLE
OCCUPATION (HMO)
If your property is let to at least three tenants who share toilet, bathroom or kitchen facilities but are not from one household or family – sometimes called a ‘house share’ – it is a House in Multiple Occupation’ (HMO). Depending on the size of the property, the number of tenants
and the area, you are likely to need an HMO license from your local council. We can advise you on this.
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