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Showing posts from January, 2017

If you’re a landlord, you’re in business

If you’re a landlord, you’re in business Your rental property might be the result of a clever investment plan or something you just fell into. Either way, if you collect rent on a rental home, you’re running a business and there are rules you’ll need to comply with.
What you need to know Like any small business, if you rent a home, you have customers — your tenants — and contracts and laws you need to understand.
You have to be across the property, the people, the paperwork and the processes. And as with any business, things keep changing, eg:
smoke alarms are now compulsory in your rental home and you must fit the right type in the right placesall your new tenancy agreements must now include an insulation statement disclosing if there is insulation, where, what type and its condition — you must make all reasonable efforts to provide this information so tenants know what to expectyou will need ceiling and underfloor insulation, where reasonably practicable, by July 2019, though some e…