The Landlord and the Law
There are some important pieces of legislation that expressly affect a landlord and cannot be taken lightly. The penalties for none compliance can be severe and may even lead to imprisonment if ignored. There is much legislation that both directly and indirectly covers the field of letting, but the most important ones can fundamentally be divided into the following areas.
The 1988 and 1996 Housing Acts
The majority of lettings in the domestic market are undertaken on Assured ‘Shorthold’ Tenancies. These were initially regulated by the ‘88 Act, however this was updated by the ‘96 Act, which came into effect on the 28th February 1997 and introduced some important new provisions.
As a landlord you are not required to know the full workings of such Acts or the details regarding the associated legislation, you may safely leave these legalities to Simply Lets. Initial tenancies are usually for a term of 6 months, however both longer and shorter tenancies are available if required. Your Simply Lets Property Consultant will be able to discuss with you the options and explain the advantages and disadvantages. There are also certain circumstances where Assured Shorthold tenancies are not appropriate. The one thing that is important is that these Acts provide a landlord with a legal right to repossess his/her home and preserve the security of the property. This right, whilst not necessarily guaranteeing posession on that day is (in the very rare cases where it is contended), legally enforcable through the courts. Sadly as legal action can take weeks, landlords should always ensure they have a contingency for the worse case scenario!
There are several different specified types of legal notice that may be required relating to repossession of your property, but again if uncertain our Managed Service will ensure that all such notices are correctly served and we will be able to explain the periods of notice required and the legal responsibilities of both the landlord and tenant when possession is sought. It is worth noting however that a minimum of 2 months notice to be served on or before a rent day is always required under Section 21 of the Act.