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30th January 2012

Landlords 'need to be aware of their responsibilities'

Those letting a property for the first time need to make sure they are aware of what their responsibilities are as a landlord.

 

Recent figures from the Young Group revealed that around 80 per cent of landlords expect rents to increase in 2012, continuing a trend seen last year and likely to tempt many new investors into the buy-to-let market.

 

David Barbour, managing director of Martin & Co Whitley Bay, notes that 'more people are getting into it and letting property.'

 

However, many may do so without fully realising the level of responsibility this brings. "It is not easy and there is a lot to know", said Barbour.

 

He recommends using the services of a professional lettings agent, like Martin & Co, who can help landlords meet their various obligations.

 

While investing in and letting a property can prove to be a profitable venture, particularly with rents currently so high, Barbour warned that there are a number of things that can potentially go wrong if someone goes into the private rented market without first doing their research.

 

"One thing to note of course is bad tenants or tenants from hell - tenants who don't pay the rent," he said.

 

"You also have a legal responsibility to know your legal duty to do certain things. You have to maintain the property properly and have gas safety checks done. It is not that hard, but they need to be aware of what their responsibilities are."

 

His comments follow recent advice from the Association of Residential Letting Agents, which advised landlords to make sure they carry out referencing of tenants before offering them a tenancy agreement as this can help avoid taking on those who may be more likely to fall behind with their rent.

 

A survey of member agents by the organisation found that, in the final quarter of 2011, over 39.2 per cent reported an increase in tenants struggling to pay their rent, up from 36.7 per cent the previous quarter.

 

Martin & Co Whitley Bay are a leading letting agent who are always happy to assist and advise first time landlords. Our expert guidance helps to make the letting of your property as stress free as possible. To see how we can help you call us today on 0191 253 5666.

 

For information on lettings in Newcastle upon Tyne visit Martin & Co Newcastle upon Tyne.

 

For information on lettings in Cramlington visit Martin & Co Cramlington.