Monday, 24 April 2017
New Landlord Rules 2017
The law is changing. Private landlords in England are subject to new regulations surrounding the safety of their properties and tenants.
Immigration Act 2016 - Since December 2016 it has been a criminal offence to breach The Right to Rent legislation. The penalty is now unlimited and/or 5 years in prison. This is on top of £3k civil penalty.
Mortgage interest relief - Since 6 April 2017, landlords are taxed on your turnover, not profit. If you’re thinking about becoming a landlord but are not mortgage free, then this charge could have a huge impact.
Housing & Planning Act 2016 - Expected to come into effect by April 2017, the updated act will capture rogue landlords more effectively, introducing higher fines for repeat offences, rent repayment orders, fixed penalty notices, and Tenancy Deposit Protection data shared with local authorities.
Electric Safety - The Electrical Installation Condition Report (EICR) is currently optional. It will be mandatory for the private rental sector.
Landlords will need to install a smoke alarm on each storey of living accommodation from Thursday 1st October 2015. They must also install a Carbon Monoxide (CO) alarm where there is a solid fuel burning appliance. Landlords must test these alarms are working at the start of every tenancy.
These new safety measures are part of wider government moves to ensure there are sufficient measures in place to protect the public. These changes will align private rented properties with existing building regulations for newly-built homes which already require the installation of hard-wired smoke alarms.
If you are concerned about your property then it is worth reviewing your current home insurance policy (taking care to read the small print) as some claims will not be valid without proper safety measures, such as a working smoke alarm in place.