Panchalay

Becoming a landlord is not just about collecting the rent every month and watching your business and bank balance grow as a result; rather, a landlord has several responsibilities and and duties to their tenants. Indeed, one of the very first things that a landlord needs to do is get adequate insurance both for themselves and the tenants; Just Landlords provides a good cover and insurance plan.

Your first responsibility as a landlord is to ensure that the property which you are putting up for rent fully complies with all building and safety regulations. This includes having fire and smoke alarms in all rooms and also removing any potential health and safety hazards such as loose floorboards etc… Furthermore, you are also responsible for any repairs that occur during the occupiers tenancy. These include things like a burst water pipe or the heating not working properly. Usually you can reclaim this expense of repair on your insurance. A good idea is to make the tenant fill out an inventory list at the very start of their letting period so they can inform you of any damages right away and therefore, if anything is damaged over the duration of their stay, you will know that it wasn’t that way at the beginning.

If you own several flats or apartments in a building for example then you, as the landlord, will often be responsible for keeping the communal areas within the building clean as well unless you have stated otherwise in the tenancy agreement. These ares include the stairways and the halls of the building and it will be up to your to hire cleaners or ensure yourself that they are of a satisfactory standard. By following these simple guidelines, and having correct insurance, you will have a successful career and business as a landlord.