As more and more people struggle to sell their homes and decide to rent their properties out instead, confusion on official procedures such as creating inventories, drawing up contracts and taking deposits is becoming a growing issue, for an increasing number of people. Whilst it is absolutely imperative that you have a formal agreement in place; even if you are letting your property to someone you know socially, it is also important to have these other formal documents and procedures in place too.
Without these crucial moves in place, a host of issues may arise. Therefore it is essential to be aware of the correct procedures to follow when becoming a Landlord to ensure everything goes smoothly.
Do you need a Landlord Inventory form to keep track of all the fittings within a property? What happens if you have a tenant that has destroyed your furniture? What rights do you have if you want to withhold part of the deposit due to wear and tear?
We were joined by Eddie Hooker from Total Landlord Insurance and my|deposits and Nick Lyons co-founder and Managing Director of No Letting Go, to answer these and other Landlord queries, when it comes to inventories, contracts and deposits. Watch the on demand version of the show now to find out more.
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