In short, thoroughly.
Do not be fooled by sparkling interiors and seemingly ‘happy’ tenants. Instruct a surveyor to inspect the property and meet with the tenants in situ. Have they built a strong relationship with the existing landlord? Do they have any grievances about the property?
Do not rely on the existing landlord’s due diligence work and conduct your own investigations. Ensure that all of your paperwork is in order before the exchange of contracts.
You should be alive to your obligations outlined in HM Government’s ‘How to rent: the checklist for renting in England’ [see sources below] and ensure that the existing tenants have the following:
- A gas safety certificate – You cannot assume that this was provided at the outset of the tenancy. Therefore, you should instruct a Gas Safety Engineer to conduct a gas safety check and then provide the tenants with the updated certificate. This must be repeated annually.
- A deposit protected in a government-approved scheme.
- A copy of the guide outlined above.
- An Energy Performance Certificate with a minimum rating of ‘E.’
- A report that shows the working condition of the property’s electrical installations – Fixed electrical parts must be inspected every five years, and throughout the entirety of the tenancy, national electrical safety standards must be satisfied.
- Evidence that carbon monoxide and smoke alarms are in working order.
Your obligations do not stop here. You have an ongoing duty to maintain the structure of the property, deal with any issues stemming from the utilities and carry out any reasonable repairs when requested.
Remember, it is all in your best interests to do so if you would like to build, or even sustain, strong relationships with your tenants in situ.
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