Before anyone becomes a landlord, whether male or female, these days, there are basic rules to be thought about before any action is taken. Even if the tenant – the person renting the flat from you, is a relative. If money is to be passing hands, then this becomes a legal tenancy and the rules for landlords and rental of property clock in.
The first and foremost one is for landlords to observe is to ensure the property is safe and there are certificates to show that the utilities have been installed and maintained as they should be. That needs a separae certificate for the gas, if available, electricity, oil, if installed, and of course, the water supply. The electrical one in particular needs to be reviewed and recertified every five years by a qualified electrical engineer, and the report copied to the landlord and tenant. The property must also have an energy performance certificate – this is required for the tenant to know whether it will cost them a lot to run the flat/house once they’re in. It is the same for anyone buying their own house – the cost of the mortgage payment is only the start, running the property needs almost as much money. Other protections include installing smoke and carbon monoxide monitors and alarms, especially in any room that has solid fuel burning appliances.
Another newish condition is deposit protection – this must conform to current legislation and the government has set up the approved deposit holding scheme where the tenant’s deposit must be placed within 30 days of the landlord receiving it.