Changes in Tax Returns

Changes in Capital Gains Tax

Changes to Energy Efficiency Rules

Changes to Section 21 Evictions

Changes in Lifetime Deposits for Tenants

If there is one thing of significant importance in regards to rented properties during the ongoing pandemic, it is that landlords, tenants and local authorities should continue to work together, to maintain these properties safe. This is in the very best interest of both landlords and tenants. Ensuring that the properties are free of hazards and are a safe environment is priority number one. Tenants need to stay on top of the issue and alert their landlord early on, in case of a problem. This will allow the landlord to address the task as soon as possible and take adequate action. In the following guide, we will have a look at a few important factors considering all of that. 

Ventilation 

Allowing fresh air in is very important for any meetings conducted indoors. According to health and safety experts, it is best if landlords and tenants meet outside. For communal areas, opening windows and doors is one of the simplest ways to improve ventilation. It allows stale air to circulate outside the building and thus reduce the chance of Covid-19 virus particles remaining in the building. In case windows have openings at both the bottom and the top, like sash windows, keeping the top open ensures the incoming fresh air warms up a bit. If the weather allows it, both openings should be used. It is a good idea to open windows/doors on opposite sides of a room, to ensure the best circulation. If possible, tenants should maintain openings throughout the day to ensure a constant flow of fresh air is entering the home. 

Carrying out repair and maintenance work 

Work undertaken should always follow the safety guidance during Covid-19. If local authorities, landlords and contractors need to access a property, to carry out certain work there, they should do so in a safe manner. The possible works include: 

• Safety inspections are done on a routine basis, which also includes electricity and gas safety checks. 
  
  
• Various essential and non-essential repairs
  
  
• Unplanned or planned maintenance inside and outside of the home
  
  

There are no guidelines for homes with potential or confirmed coronavirus infection. The same guidelines apply to the occupants of shared properties. If one of the occupants have symptoms of the virus, all of them should behave as a single household. No work should take place in households isolated due to symptoms of the virus unless there is a very clear risk for the safety of the same household or public. 

If there is a case of a tenant refusing access to the property, landlords have the tools and powers that will allow them to gain access. This includes obtaining an injunction from the court, or a warrant. 

Maintenance work and repairs with clinically vulnerable people 

As per expert clinical advice and the rollout of the vaccine programme, all individuals previously considered clinically extremely vulnerable are not advised to shield again. Such individuals should consider some advice from their healthcare professional on what precautions are right for them. 

Communal lounges in retirement/shelter schemes 

Scheme managers and landlords should always perform a risk assessment, inclusive of the risk of Covid-19 and do the necessary to minimise it. Everyone who is self-isolating, or symptomatic of Covid-19 or has a positive test should steer clear of communal areas when others are there. These areas should be properly sanitised at all times, to ensure no cross-contamination occurs. 

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A large number of people invest in properties every year to earn rent from them. The landlord prepares his house and lets it out to others to live and call it a home with utmost trust that they will treat it well and pay their rent on dues. In today’s time when the crime rate is escalating at a rapid pace, it is important to be cautious and takes all precautions that ensure the safety of their property. Running background credit check tenant is one of the ways that can save landlords from unpaid rent, losing sleep over damage to their properties, going through the stress of evicting tenants in the worst case and more.

Since it is not possible for the landlord to carry out a comprehensive check, it is better to use the services of a property management company that check the creditworthiness of the tenant. The company also check the identity of the tenant to find if it is correct by conducting a detailed background check of the tenant. This check will give a clearer picture to the landlord about the prospective tenant and he can rest assured about getting his rent on time and no chance of his property getting damaged.

Before renting out a property to a new tenant, check if he or she will be able to pay the rent. Many times, landlords lease their property without running a background check about their creditworthiness and this results in landlords losing out their rental property and getting mired in the frustrating and stressful legal process to get it back. It is thus important to conduct credit check for landlords. It is what they need to do.

Firstly, they need to get in touch with a credit reporting agency and get the FICO Score and credit history of the potential tenant. There is no dearth of tenant screening companies that specifically focuses on handling tenant background checks. Ask the service provider for information like name and current address of the tenant and his individual taxpayer identification number or social security number.

It is prudent to inform the tenant beforehand about checking his background and credit. In case, you would like the tenant to cover the cost of this check, let him know in advance. To avoid any issues later on, it is advisable to get permission from the potential tenant about running his background check.

The credit report received after a thorough check must give you information like misdemeanors or felonies, bankruptcy filings, delinquent payments, and civil suit liabilities. This information will help to check the credit history of the potential tenant. Ask for at least two years’ history so that it can raise red flags if any. Keep the file and paperwork safe in case it is required later. It is not necessary to share this information with the prospective tenant.

Armed with pertinent facts and information can help you make the right choice and rent out your property only to a deserving person. If you spot any warning sign, it is better to move on and look for another tenant.

Source: http://soft2share.com/why-carrying-out-background-credit-check-of-the-tenant-is-essential/