The real estate industry in Bristol is one of the most thriving and successful industries. Bristol is a vibrant city which is home to many students and businesses that are always looking for the best place in the hub to attain business growth. There is plenty of advice available about selling and buying property in Bristol but the area of letting a property is not one of the commonly discussed topics.
Letting a Property in Bristol
The real estate industry in Bristol has a lot to offer for buyers, sellers and people who are looking for rented property and those who want to put up their property for rent. Here is how you can let a property in Bristol.
Formal and Written Agreements
One of the most important factors when letting a property is to make sure that you record formal agreements. Informal or oral agreements will not suffice in case of a legal issue. To prevent any complication in the future, keep a proper written record of important documents and agreements to show them as proof.
Keeping the Property in Good Condition
According to the United Kingdom law, the landlord is responsible for all major renovations. Landlords are responsible for repairs to walls, floors, roof and windows. If you are letting your property, then you must ensure the working condition of electrical wiring, gas piping and fixed heaters.
The landlord is supposed to run safety checks on gas and electrical appliances at least one time in a year. You are responsible for hiring a person for the safety checks that is registered with the Gas Safe Register. Furthermore, the landlord is required to keep a record of all inspections including their dates and any action that might have been taken as a remedy to the problem.
If you are providing furniture or other household contents along with the rented property than it is your responsibility to make a list of these items. Also, record the age and condition of the items provided. This list must be checked and agreed upon by both the tenant and landlord and then signed.
Assured Shorthold Tenancy
If you let a property in Bristol or anywhere else in the UK, it will automatically fall under the assured shorthold tenancy (AST) if you have not mentioned some other form of tenancy in written form. This means that the landlord has the right to get the property back after six months, can charge a market rent and get the property back in six months if the tenant fails to pay rent for eight weeks.
Bristol is a good place for buying, selling and renting properties. It is not difficult to find interested parties and you can always consult a real estate agent for advice on letting a property. Involving a real estate agency might cost you a fee but they help make the procedure smooth between the potential tenant and the landlord. For more information on letting a property, check the How to Rent Guide.