With the challenges that come with being a landlord, large or small, the multitude of laws to be familiar with and the regulations to be followed, Inspex can help so it's less likely you’ll run into serious issues along the way. The experience we've gained over years of working with our local authorities, is the difference between getting an inspection of a rented property and getting an Inspex inspection.
Private rental housing or buying property to let can appear to be an attractive investment because unlike stocks and other financial investments, property is bricks & mortar, something you can physically see & touch. But owning a residential rental property comes with the responsibility to act as a landlord and being a landlord today is a tougher job than most realise.
Buying-to-let is much more than just an investment, it is a long-term commitment that requires a knowledge of the law, financial prudence and a lot of hard work. The successful landlords understand the laws that govern the PRS sector and ensure their rented properties comply with all requirements under the relevant Housing Regulations. Ignorance in this case is not bliss, even if you don’t know or understand the laws, a landlord is still responsible.
At a minimum all rented accommodation must meet the accommodation standards set out in the Housing (Standards for Rented Houses) Regulations 2019 and it must also comply with all other relevant legislation. Failure to comply with these standards and laws can result in penalties for and prosecution of landlords.
Whether an institutional investor or small private landlord, consider three proactive ways to ensure rented properties meet minimum standards & potentially avoid unwanted issues or disputes
#1. New Tenancy
The Residential Tenancies Board (RTB) deals with the majority of disputes between landlords and tenants but disputing parties are required to submit evidence to support claims. Having an Inspex Inspection completed makes the difference. The Inspex Report is a Housing (Standards for Rented Houses) Regulations checklist that acts as evidence to confirm a property's condition and compliance with minimum standards.
#2. End of Tenancy
We recommend a landlord gets an Inspex Inspection completed when a tenant exits. The Inspex Exit Report helps compare the property’s condition from the beginning to the end of a tenancy. It may be used to claim some or all of the security deposit for property damage or replacement of missing items. Conducted within the framework of Housing Standards, this is not just a property inspection, its an Inspex Inspection
#3. Proactive Inspection
As a landlord you have a right to inspect a rented property and regular inspections should be carried out at reasonable intervals on an agreed date and time with the tenant. With what might seem as forever changing rules and regulations ensuring rental properties meet minimum accommodation standards, as per Government Regulations, couldn't be easier when you choose the Inspex' inspection and verification service.