February 2019


Being a landlord looks like it should be easy. Hand over the keys, collect the rent and everyone’s happy. However, the reality is that there are many bumps in the road, particularly if you’re renting out your first property. These are just a few of the most common mistakes that many first time landlords make. 1. Failing to Protect Deposits Ensure that you protect the tenant’s deposit in a government-approved tenancy deposit scheme. If this isn’t done within 30 days of the deposit being paid then tenants can make a claim against a landlord for three times the amount of the deposit not protected. 2. Incomplete Paperwork The internet is awash with different tenancy agreements but they are rarely a) up to date, or b) robust enough, yet some landlords still use them in the hope of saving a few pounds. A robust and current tenancy agreement is a ‘must…