Landlords failing to keep up with the law

 

As many as one in ten tenants could be renting a property without a proper tenancy agreement, a study has claimed.
 
New research from Total Landlord Insurance has found that 10 per cent of landlords have not provided their tenants with the proper and legally-recognised shorthold tenancy agreement, rman.co.uk reports.
 
In addition, around a third of landlords questioned said they were unsure of their legal obligations when it came to renting out their property.
 
This could be down to the number of so-called 'accidental landlords' making their way into the rental market because sales value on their homes proved too low. As more first-time landlords head onto the market, experts have advised them to seek out professional help to navigate the legal obligations.
 
The study found that it wasn't just landlords causing trouble, however, with as many as two in five claiming they had first-hand experience with troublesome tenants. Furthermore, two-thirds claimed they have had issues with late or unpaid rent in the past.
 
Speaking to lettingagenttoday.co.uk of the results, the CEO of Total Landlord Insurance, Eddie Hooker, explained: "Landlords need to put in place standard operating procedures so that each part know where they stand when issues arise.
 
"It was also staggering to learn that more than half of landlords do not even have rent guarantee insurance on their properties."

Author: Properties ABC