Prop Man Flashcards
EPC’s
The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 introduced
Minimum energy efficiency standards 2018
Resi
minimum rating - E
minimum rating C by 2030 - proposed
commercial
Minimum rating - E
Minimum rating B by 2030 - proposed
AST
Housing act 1996
Housing Act 1988
Landlord Obligations
keep your rented properties safe and free from health hazards
make sure all gas equipment and electrical equipment is safely installed and maintained
provide an Energy Performance Certificate for the property
protect your tenant’s deposit in a government-approved scheme
check your tenant has the right to rent your property if it’s in England
give your tenant a copy of the How to rent checklist when they start renting from you (you can email it to them)
Right to enter
You have a legal right to enter your property to inspect it or carry out repairs. You must give your tenants at least 24 hours’ notice, although immediate access may be possible in emergencies. Your tenants have the right to stay in the property during the repairs.
You’re normally responsible for repairs to:
the structure of your property
basins, sinks, baths and other sanitary fittings
heating and hot water systems
anything you damage through attempting repairs
Major repairs
You can ask tenants to move out during major repairs. Before this happens, you should agree in writing:
how long the works will last
the tenants’ right to return
details of any alternative accommodation
Can rent be increased
For a periodic tenancy (rolling on a week-by-week or month-by-month basis) you can usually only increase the rent once a year.
For a fixed-term tenancy (running for a set period) you can only increase the rent if your tenancy agreement permits this. Otherwise, you can only raise the rent when the fixed term ends.
How to increase rent
How you can increase the rent
If a fixed-term tenancy agreement says how the rent can be increased, you must stick to this.
For a periodic tenancy, you can:
agree a rent increase with your tenants and produce a written record of the agreement that you both sign
complete Form 4: Landlord’s notice proposing a new rent, giving your tenant at least a month’s notice
How to settle issues with tenants
Speak to your tenants about your concerns.
If this does not work, write a formal letter setting out the problem.
Use a mediation service, which is usually cheaper and quicker than going to court.
As a last resort, you can take your tenants to court.
What should a tenancy agreement include
the names of all people involved
the rental price and how it’s paid
information on how and when the rent will be reviewed
the deposit amount and how it will be protected
when the deposit can be fully or partly withheld, for example to repair damage caused by tenants
the property address
the start and end date of the tenancy
any tenant or landlord obligations
which bills your tenants are responsible for
It can also include information on:
whether the tenancy can be ended early and how this can be done
who’s responsible for minor repairs (other than those that the landlord is legally responsible for)
whether the property can be let to someone else (sublet) or have lodgers
How to evict
You must give your tenants written notice that you want the property back (‘notice to quit’) and the date they must leave. The notice period you give them must be at least 2 months for section 21 notices.
Eviction process
Give your tenants a Section 21 notice if you want the property back after a fixed term ends. Give them a Section 8 notice if they’ve broken the terms of the tenancy.
Apply to the court for a standard possession order if your tenants do not leave by the date specified on the notice and they owe you rent. You can apply for an accelerated possession order if you’re not claiming any unpaid rent.
Apply for a warrant for possession if your tenants still will not leave - this means bailiffs can remove the tenants from your property.
Do you publish fees
Any fees for either tenant or landlord would be openly published and will be transparent in line with the consumer rights act 2015
Tenant fees legislation
The tenant fees act 2019
permitted payments
rent
capped at 5 weeks rent under 50k capped at 6 weeks rent over 50k
holding deposits - capped at 1 weeks rent
payment on variation capped at £50 or reasonable cost if higher
payment on termination of a tenancy to cover reletting costs if leaving during fixed term
holding deposit retained if tenant fails to enter into a tenancy
Key points of a tenancy
Exclusive possesion is required - Street v Mountofrd
There needs to be identiified
the premises
the term
rent
What is a lease
A lease is a legal interest in land under the law of property act 1925. These interests can only be created or conveyed by deed unless the deed is under 3 years.
Difference between Assured shorthold tenancies and assured tenancies
Assured tenancies have far greater security of tenure as vacant possession cannot be obtained without a court order
There is one succession under a assured tenancy
What are you required to give tenant before tenancy commences
A copy of the how to rent guide
A copy of the current valid epc certificate
A copy of the gas safety certificate
What happens after the initial fixed term under a AST
the tenant will remain in occupation under a statutory periodic tenancy under the same terms
rent reg ast
There are no rent regulations under a assured shorthold tenancy
benefits of a fbt over grazing licence
more security and stability for a tenant than a grazing license, and can be more suitable for longer-term use of the land: This can encourage investment on the land and a higher rent may be able to be achieved.
what is a gross margin
A Gross margin is the income produced minus the variable costs of production.
when are epc’s not required
listed buildings where the works required would unacceptably alter the buildings
how long do epcs last for
10 years
exemption for a epc in resi letting
made all relevent epc improvments and the rating is below a E with total costs being £3,500
a tenent has refused consent for the works to occur
what does a EICR test for
An EICR is when your electrical installations are tested by a ‘skilled’ person to ensure they are safe and they will not cause any fire risks or electric shocks.
CDM regulations
Construction design and management regulations 2015 governs the main set of regulations for managing the health, safety and welfare of construction project
Who holds duty holder and principal designer responsibilities?
What is the advantage to you in appointing a principal contractor?
it frees up a lot of your time and resources, allowing you to focus attention on other areas and add value to the business in other ways
section 21 notice period
2 months
section 8 ground 12 notice period
2 weeks
rent review a ast
can only during the initial terms if agreed in the tenency
periodic tenancy - form 4 - 1 months notice - once a year - a tenent who disagrrees can apply to the first tier tribunal.
new rent could be RPI based or comparable
rent review FBT
by negotation (ban on upward only) freedom of contract
rent review AHA
based on production capacity
rent review landlord and tenanct act 1954
freedom of contract
